Central banks' concerted move boosts SET index
The Stock Exchange of Thailand Index rose 24 points or 2.42 per cent as the market opened Thursday, to exceed 1,000 points for the first time in three months, thanks to the six central banks' move to inject liquidity into European banks.
As of 9.56pm, the index stayed at 1,019.39 points. The index last stood above 1,000 points on September 19.
The Thai market rose in tandem with other regional bourses, driven by six central banks' concerted move to ease liquidity problems of European banks.
Joining the move are central banks in the US, European Central Bank, United Kingdom, Japan, Canada and Switzerland. They plan to lend dollar loans to European banks, which have found it more difficult to borrow from other banks.
Dow Jones Industrial Index on Wednesday ended 4.2 per cent higher on the good news.
The Bank of Thailand's policy rate cut yesterday by 25 basis points, the first cut in months, also propelled the bourse as well as the Thai baht which today strengthens against US dollar to 30.87-89.
