SET index hits new 16-year high
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The Stock Exchange of Thailand, the worlds 8th best performer and Asia's 2nd best this year, saw its composite index hit a new 16-year high at 1,324.04 points today.
The index gained 14.47 points or 1.10 per cent today. The previous new high was 1,314 points.
Foreign investors turned to be net-buyers, with net-buy position of Bt3.85 billion. This pushed the market's daily turnover to Bt77.6 billion.
Brokers foresee further spikes in the index on continued capital inflows.
Asia Plus Securities commented in a research note that the market is now under the influence of daily news. Today, the market rose on goods news that the US politicians could reach a deal on the fiscal cliff.
Historically, the index peaked at 1,753.73 points on Jan 4, 1994.
Record turnover was Bt94 billion on Jan 23, 2006, but that included the Bt57 billion big-lot transaction for Shin Corp shares.
