Baht expected to fall further, says Mizuho

Pulling out: An investor watches share prices at private stock trading floor in Bangkok. Foreign funds have pulled a net US3.8bil from the nation’s equity market since the end of March. — AP

BANGKOK: The Thai baht, set to become the worst-performing currency in emerging Asia this quarter, doesn’t look like it’s going to bottom anytime soon, according to Mizuho Bank Ltd.

Foreign funds have pulled a net US$3.8bil from the nation’s equity market since the end of March, the most since at least 1999 on a quarterly basis, amid concerns that an escalation in trade frictions between the US and China will weigh on Thailand’s current-account surplus – a source of attraction for the country’s currency bulls.