In brief
The index dropped from 148.72 in September to 100.86 in October, with all investor groups reporting negative sentiment. Key factors included Middle East conflict, high energy costs, and rising U.S. Treasury yields, but listed company earnings, government stimulus and tourism recovery helped lift the market.
Thailand’s stock investor confidence index fell to 100.86 in October, down from the bullish 148.72 seen in September, according to the Federation of Thai Capital Market Organizations (FETCO).
The drop slipped the market into a neutral zone, as all investor categories reported lower morale: retail investors were down 13.2 percent, proprietary investors 19.2 percent, domestic institutional investors 7.4 percent and foreign investors a steep 49.2 percent.
FETCO highlighted that despite the decline, listed companies’ earnings continued to be the biggest driver of market sentiment, followed by government economic stimulus measures and a rebound in tourism.
Analysis from FETCO chairman Paiboon Nalinthrangkurn said the downward trend was shaped by the prolonged Middle East conflict, persistently high energy prices, and rising U.S. Treasury yields, while worries over inflation also weighed on investor mood.
He added that the rise in Thai exports, particularly digital and electronic products, provided some support for the market and that investors were keeping an eye on the U.S. midterm elections, the Federal Reserve’s monetary policy and ongoing geopolitical tensions.
Locally, expectations center on the third‑quarter earnings of listed companies, the effectiveness of government flood‑relief and consumption‑stimulus measures, and the recovery of the tourism sector during the high season.