Local investors go against the flow after Thai floods

As the death toll from Thailand’s worst floods in half a century passed 600, an interesting reaction to the disaster emerged among investors in the country’s stock market, while fund redemptions have been rife. Local retail investors were net buyers of stocks in August and September (+Bt50.85 billion baht and +Bt26.38 billion respectively), but by October they had turned sharply net sellers (–Bt31.34 billion). This month they have once again turned net buyers (+Bt7.55 billion), as…