Market bull run drives index to nearly 16-year high
Concerns over China's slowing economy could not block a bull run in the Stock Exchange of Thailand, as the index ended on Wednesday above 1,200-point psychological level despite declines in other Asian bourses.
The index is the highest in 15 years and eight months, or since July 11, 1996.
The market witnessed fluctuations during the day, but thanks to brisk buying orders in the last hour, the index shot up and ended the day at 1,207.67 points, or a gain of 11.07 points or 0.93 per cent. Turnover was Bt39 billion.
According to SET's website, overseas investors' purchases today were Bt1.76 billion above sale.
The market gained though the indices in key markets like Japan, South Korea, Australia, Shanghai and Hong Kong dropped.
Bloomberg reported today that Goldman Sachs Group said in its report that stocks will probably begin a "steady upward trajectory" over the next few years as any declines in economic growth are already reflected in share prices.
