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$ThaiBev (Y92.SG)$ There may be more downside for ThaiBev. F...

There may be more downside for ThaiBev.
Foreign investors have sold Thai stocks for 13 straight days, the longest stretch since 26 Jan, partly driven by a sluggish economy, weak currency and political uncertainties.
Global funds offloaded almost USD2.5 billion of the Southeast Asian nation's stocks on a net basis so far this year, according to data complied by Bloomberg as of Mon. Other markets in the region, including Indonesia, Vietnam and the Philippines, also have seen overseas investors withdrawing funds in 2024.
The equity benchmark Bangkok SET Index is down about 7% for the year and near its lowest since Nov 2020, with Prime Minister Srettha Thavisin acknowledging Tue that political risks may weigh on investors’ sentiment. With a 15% decline in the last 12 months, it is the world's worst-performing market of all tracked by Bloomberg.
"Weakness in EM currencies is causing some outflows in Indonesia and Thailand," said Tareck Horchani, head of prime brokerage dealing at Maybank Securities Pte. "Additionally, there are some political uncertainties" in Thailand that "could be contributing to investor caution."
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