Foreign Investors Flee Thai Stocks, Fueling World’s Biggest Drop
- Thai benchmark equity index trades near its lowest since 2020
- Allure of Thailand as a market ‘diminished,’ fund manager says
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Foreign investors have sold Thai stocks for 13 straight days, the longest stretch since Jan. 26, partly driven by a sluggish economy, weak currency and political uncertainties.
Global funds offloaded almost $2.5 billion of the Southeast Asian nation’s stocks on a net basis so far this year, according to data complied by Bloomberg as of Monday. Other markets in the region, including Indonesia, Vietnam and the Philippines, also have seen overseas investors withdrawing funds in 2024.