(Bloomberg) -- The baht gained to its strongest level in 30 months as China’s stimulus boosted risk assets globally, adding pressure on the Bank of Thailand ...
-- The baht gained to its strongest level in 30 months as China’s stimulus boosted risk assets globally, adding pressure on the Bank of Thailand to act to curb its rally.The currency rose as much as 0.8% against the dollar to 32.56 on Wednesday, a level last seen in March 2022. Robust inflows into equities and bonds are also boosting sentiment, with the benchmark stock index near a one-year high.
“The topic of strong baht is already on the agenda of policymakers,” said Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. in Singapore. “But if a weak dollar is the dominant trend, then the measures may not be as forthcoming. At this point, it is likely they may wait and watch but we cannot rule out any responses.”
Global funds poured over $400 million into Thai bonds in September, the third straight month of net foreign inflows, according to data compiled by Bloomberg. They bought about $1 billion of local equities during the period — the first net inflow in five months — as the government’s plan to revive the local market with a new fund-subscription offer partly boosted stocks.
The Australian Securities & Investments Commission said the court found Vanguard Investments Australia misled investors about its "ethically conscious" bond index fund. The fund said it screened issuers to exclude those with operations in some sectors such as fossil fuels, when that was not always the case, ASIC added.
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