SET down on renewed eurozone concern
The Stock Exchange of Thailand composite index on Thursday slid 15.68 points to 1.31 per cent, in tandem with regional declines on a renewed concern over the eurozone debt crisis.
The index today peaked at 1,197.04 points and plunged to as low as 1,177.83 points. With net purchases so far this year at Bt85.45 billion, foreign investors on the day turned to net-buyers, with net-buy positions of Bt77 million.
Thai and other Asian bourses were under pressure as the Spanish government fell to attract enough demand for its bond auction, sparking concern about the region's sovereign-debt crisis.
The market fell despite the Office of Insurance Commission's plan to widen the ceiling on insurance companies' stock investment portfolio. The office's public hearing is underway, to sound out opinions on the expansion of the ceiling.
The OIC is of the view that insurance companies have so far plotted good investment plans and listed companies' shares are of high liquidity with transparent prices. Moreover, insurance companies with investment in high-risk assets must set aside sufficient capital.
