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12 Oct 2018 | 13:11

Aberdeen New Thai Investment Trust NAV falls 2.3% in the first half

Aberdeen New Thai Investment Trust posted a 2.3% decline in its net asset value per share in the first half, in line with a 2.2% fall in the Stock Exchange of Thailand index.

Its total return, which included a 7p interim dividend per share, fell 0.6% over the period.

'The Thai equity market succumbed to worsening external risks over the six-month period, following a steady two-year climb that reached a record high at the end of January 2018,' the trust said.

'For some time, domestic stocks were relatively unaffected by the challenges afflicting other emerging market equities.'

'However, this proved unsustainable as global trade tensions ratcheted higher, hurting sentiment worldwide.'

'The case for investment in Thailand remains compelling, in the board's view, given its enduring strength through political and other uncertainties, the appeal of its companies and its position as a gateway to the wider region with first-rate economic growth potential.'

At 1:11pm: (LON:ANW) Aberdeen New Thai Investment Trust Plc share price was -17p at 557p

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