Thai Equities Are Asia’s Worst Performers on Interest Rate Hikes
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Thai equities are Asia’s worst performers this year, hammered by an exodus of foreign investors, inflationary pressures and rising interest rates ahead of elections next month.
The SET Index has declined about 8% so far in 2023, compared with a gain of 2.5% in the MSCI Asia Pacific Index. Overseas traders have withdrawn almost $1.8 billion from Thailand stocks, the biggest outflow in Asia this year after China and India.