Investor sentiment strong enough to survive Thai rate hike

Thailand has been a talking point among equity investors lately as an air of political stability has settled over the country since the July 3 elections, which passed without violence. This has added further support to the local stock market, which as of last night was the third best performing market in Asia this year after the Philippines and Indonesia, and among the rare few markets globally that are still in positive territory.

It has also boosted demand for primary market deals as international investors are looking for ways to increase their exposure to this market, and existing shareholders have taken advantage by monetising part, or all, of their existing...