HONG KONG (Reuters) – Foreign fund managers said on Wednesday they have not starting dumping Thai assets after the army seized power, and that they may use the coup as an opportunity to enter one ofAsia’s most inexpensive markets.
But they warned that signs the military plans an extended stay in power, prolonged political uncertainty, or attempts to control capital flows could trigger heavy selling.
Thailand’s army chief vowed on Wednesday to clean up the country’s political landscape and return “power to the people” as soon as possible after the bloodless coup.
“These political events in hindsight typically turn out to be fairly good purchasing opportunities,” said Anthony Muh, head of Asia Pacific for the Alliance Trust in Hong Kong.
“Whilst not looking to immediately buy the market, we’ll be looking for opportunities if the market does sell off, or sell off aggressively … to pick things up.”
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HONG KONG (Reuters) – Foreign fund managers said on Wednesday they have not starting dumping Thai assets after the army seized power, and that they may use the coup as an opportunity to enter one ofAsia’s most inexpensive markets.
But they warned that signs the military plans an extended stay in power, prolonged political uncertainty, or attempts to control capital flows could trigger heavy selling.
Thailand’s army chief vowed on Wednesday to clean up the country’s political landscape and return “power to the people” as soon as possible after the bloodless coup.
“These political events in hindsight typically turn out to be fairly good purchasing opportunities,” said Anthony Muh, head of Asia Pacific for the Alliance Trust in Hong Kong.
“Whilst not looking to immediately buy the market, we’ll be looking for opportunities if the market does sell off, or sell off aggressively … to pick things up.”
Alliance Trust manages about $1 billion (530 million pounds) in Asian equities, including Thai energy firm PTT PCL.
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