July 30, 2013 / 5:42 AM / 4 years ago

STOCKS NEWS THAILAND-Nomura cautious on Thailand's weaker fundamentals

1 Min Read

Nomura said it is cautious on Thailand's stock market in the short- to medium-term due to economic headwinds and rising political tension.

The broker has downgraded Thailand to 'neutral' from 'overweight' on concerns about "the country's deteriorating fundamentals", Nomura said in a report dated July 29.

The SET index was among Southeast Asia's underperformers last week as political sentiment turned sour ahead of a parliamentary session next month which will consider a number of key bills related to investment and political issues.

"We believe political uncertainties could prevent the market from performing well in the short to medium term," it said.

The SET index edged up 0.11 percent to 1,455.88 near the midday trading break, with a year-to-date gain of 4.6 percent, Southeast Asia's second-worst performing market.

1225 (0525 Gmt)

Reporting by Viparat Jantraprap in Bangkok; Editing by Jijo Jacob

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