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Pattaya Daily News

29 April 2009 :: 13:04:54 pm 38080

Swine Flu Undermines Investment Sentiment: Bourse Chief

BANGKOK, April 29 Mounting concerns over the outbreak of swine flu in Mexico have undermined investment sentiment in Thailand's stock market, but the impact is not as severe as that of the earlier threats of Severe Acute Respiratory Syndrome (SARS) and bird flu, according to Stock Exchange of Thailand (SET) president Patareeya Benjapolchai.
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She said the SET is assessing how the influenza outbreak in Mexico and some states in the United States would affect investment in the stock market.

The Stock Exchange of Thailand (SET) composite index lost 2.27 points to close at 472.72 points on Tuesday. Dealers said investors feared the effects of swine flu on tourism and airlines.

The SET president said she believed the swine flu outbreak would not have an adverse impact should it be brought under control quickly.

Currently, many countries around the world have attempted to contain the swine flu virus to ensure it does not spread extensively.

Mrs. Patareeya said that the swine influenza outbreak had impacted the prices of stocks in the aviation and tourism sectors because people around the world had slowed spending and reduced travel.

We monitored stock movements in the US bourse last night and found stock prices in the aviation and tourism industries had dropped in the initial trading period, but recouped the loss later.

“So, we believe the impact is not severe, but we need to monitor how quickly the swine flu virus is brought under control,” she said.

The SET chief said the investment sentiment in the Thai bourse had improved following the easing of the political turmoil. It could be witnessed by an increase in the daily trading value to Bt9.8 billion or Bt20 billion on certain days.

She reported having discussions with executives of stock markets abroad and found that foreign investors have returned to buy more stocks in Asia.

Stock indices in some countries had rallied and increased by around 20 per cent so far. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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