SET index at new 16-year high
The Stock Exchange of Thailand index reached a new 16-year high today at 1,239.06 points, as global investors cheered good news from the US and China.
Asian stock markets rose as factory output in the US and China improved, lifting optimism on the prospects of the world's biggest economies. The Jakarta Composite index rose 0.6 per cent to 4,219.30, closing at a record.
Theerada Chanyingyong, deputy director of securities analysis at Phillips Securities (Thailand), said that the SET Index, which rose today on the back of satisfactory factory output in the US, could further advance tomorrow.
"Yet, the upside is limited. And if any bad news from the eurozone hits the market, the index could be affected," she said.
The SET index today peaked at 1,241.13 points, before easing at the end of the day. Turnover was Bt39 billion. Against fears that foreign investors may flee the market, they remained net-buyers today with net-buy positions of Bt628.87 million. Year to date, their purchases outpaced sells by Bt84.58 billion.
