Thai Bits: Thai Health Organization Does Not Trust Antigen Test Kits, Thai Investors Are Advised To Invest In Value Stocks

Health Organizations Are Going To Test Antigen Test Kits

Despite doubts about their ability to detect Covid-19 infections, the Government Pharmaceutical Organization (GPO) has postponed its purchase of 8.5 million antigen test kits, each costing 70 baht, to test their quality.
Dr. Kiatiphum Wongrajit, permanent secretary for health and chairman of the GPO, said on Thursday that a media organization expressed its concern over the quality of the chosen devices. As a result, the GPO and the Food and Drug Administration will check their quality first, he said.
According to Dr. Kiatiphum, Rajavithi Hospital has requested that the GPO urgently procure 8.5 million antigen test kits in order to conduct initial Covid-19 tests. Specifications of the test kits are set by the hospital and the National Health Security Office.
He said the GPO had chosen a supplier certified by the FDA but had not yet signed a contract. The cost of the test kits, including VAT, was set at 70 baht.
Rural Doctors Society said on Thursday that the GPO’s selection was based on price, not on the quality and accuracy of the test kits.

Thai Investors Get Advice From A Thai Research Firm

Thai investors should focus their picks on value stocks to reinforce an economic recovery after an inflow of US$720 billion into US mutual funds over the past six months, according to Morningstar Research Thailand.
From May to June, US mutual funds recorded net inflows of $100 billion.
Value stock funds have received more attention from investors than growth stock funds, with US equity funds posting $18 billion in net inflows in June after a very small net inflow over the previous two months.
Large-cap blend, a category that includes both growth and value stocks covering a variety of industries, saw the most inflows in June at $6.8 billion.
According to Morningstar, the large blend had the most net inflows with a total value of $50 billion for the first half of the year.
Growth stock funds for the large, medium, and small categories saw some outflows because investors collected profits from strong returns over the past few years.
In the first six months of this year, the Morningstar US Market Broad Value Index returned 16.9%, higher than the Morningstar US Market Broad Growth Index’s 13.4%.
Morningstar said passive funds are clearly more attractive than active ones.
In the first half of this year, US active equity funds reported $88 billion in inflows, with ARK Innovation ETF leading the group with $7.4 billion. Investors in passive funds reported $16 billion in inflows, led by the Vanguard 500 index VFINX with $15 billion.
Global equity funds saw inflows of around $20 billion (which includes US equity, sector equity, and international equity).
China saw the second-highest growth rate in the international equity category at 18.2%, similar to the diversified emerging markets group with a high proportion of Chinese stocks.
Inflows into short-term bond funds are still greater than those into volatile interest funds.
Taxable bond funds continued to be the top category for net inflows in June, with $48 billion, bringing the total to $340 billion for the first half of the year.
Thai mutual fund markets follow a similar trend to those in the US. After the US economic recovery, money has been flowing into bond funds, especially short-term bonds in the US, while Chinese stock inflows have slowed.

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