Investors welcome Court's decision
The Stock Exchange of Thailand warmly welcomed the Constitutional Court's decision today, with the 1.44 per cent gain which was enough to push the index above the 1,200 psychological points.
The SET index ended the day with a 17.16 points gain to 1,210.29 points, on turnover of Bt24.9 billion.
During the day, the index fell as low as 1,194.48 points slightly before the Constitutional Court's announcement. After the court said that all the eight judges unanimously dismissed the case, the index jumped above 1,200 points.
Stock analysts attributed the surge to the good news, which would prevent the dissolution of Pheu Thai Party and diffuse some political conflicts.
Still, the market is still threatened by external vulnerabilities, explaining why foreign investors were net-buyers yesterday. Their sale exceeded purchases by Bt1.12 billion. Chief among them was the disappointment that the US Federal Reserve Board indicated no qualitative easing, in its June minute. Meanwhile, China showed the 7.6 per cent economic growth in the second quarter, the lowest in three years.
