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Thailand's stock investor confidence hits 7-month high in August

BANGKOK, Sept. 6 (Xinhua) -- Thailand's stock investor confidence jumped to a seven-month high in August, boosted by clarification over a new government formation, a survey showed on Wednesday.

The investor confidence index (ICI), which predicts market conditions over the next three months, increased by 69.3 percent, reaching 141.27 last month compared to 83.45 in July, jumping to the "bullish" zone from the "neutral" zone, according to the Federation of Thai Capital Market Organizations (FETCO).

Among the different categories of investors, retail investors' confidence increased by 75.6 percent to 165.00, while that of foreign investors increased by 87.5 percent to 125.00, the FETCO said in a statement.

Investors viewed the new government's assumption of office, its implementation of economic stimulus measures, and a recovery in tourism as the most supportive factors, FETCO Chairman Kobsak Pootrakool told a news conference.

Despite the Stock Exchange of Thailand index experiencing high volatility during the first half of August, the index bounced back to positive territory during the last two weeks as the Thai parliament elected a new premier, which was reflected as improving political stability, he said.