Traders Spurn Thai $15 Billion Handout in Test For Srettha
- Foreigners sold $1.5 billion in bonds, stocks since Sept.
- SET Index may test 1,370 level if bond yields rise: Krungsri
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Pressure is growing from financial markets for Thailand’s premier to change course on his blockbuster spending plan as concerns mount that the government will increase borrowings substantially to fund the stimulus.
Global funds have withdrawn about $1.5 billion from Thailand’s bonds and equities since September, while former central bank chiefs have joined a group calling for Srettha Thavisin’s administration to scrap a pledge to hand out 560 billion baht ($15.3 billion) in cash to residents, the main pre-election promise of his Pheu Thai Party.