Foreigners flee Thai stocks
Foreign investors are selling Thai stocks at the fastest pace this year as the nation’s military government struggles to deliver on pledges to revive economic growth.
Overseas funds unloaded a net $774 million of Thai shares in July as the benchmark Stock Exchange of Thailand Index fell 4.3%. The baht is trading near the weakest level in more than six years after slumping 3.4% against the United States dollar last month.
The selloff suggests international money managers are losing patience amid falling exports, weak corporate earnings and a contraction in manufacturing.
