Another new high
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The Stock Exchange of Thailand index further climbed up, ending today at another new 19-year high.
The index gained 10.73 points or 0.68 per cent, to end the day at 1,577.65 points. Turnover was Bt68 billion.
Asia Plus Securities said that it is possible that the index would rise further to 1,600 or 1,650 points on foriegn buying sprees. Foreigners have been net-buyers in the past 6 trading days, with combined net-buys of over Bt9 billion.
"Still, once the index is that high, there could be a correction and the index could fall back to 1,350 points," it said.
The house noted that since November 29, foreign net-buys through non-voting depository receipts (NVDR) have reached Bt100 billion, against Bt30 billion net-buys in the stock market. This indicated more short-term inflows to the stock market.
