SET index ends higher despite continued foreign sell-off
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The Thai stock market managed to regain its losses in the past days, to stay above 1,400 points once again on Wednesday.
The market ended with a gain despite huge foreign sell-off. Foreign net-sells today hit Bt16.9 billion, which boosted the month-to-date net-sells to Bt66.3 billion and year-to-date net-sells to Bt87.38 billion.
The market witnessed great volatility today. From the increase of over 10 points at the open, the Stock Exchange of Thailand composite index suffered from profit-taking until the index fell to 1,390.37 points in the morning. In the afternoon, the index headed up to peak at 1,425.01 before falling slightly to end the day at 1,424.38 points.
The index gained a total of 39.75 points today or 2.87 per cent on huge turnover of Bt74.975 billion.
Stock analysts attributed the gain to improvement in some US economic indicators while the situation in China eased. Moreover, window dressing - a term indicating the decorating of investment accounts ahead of the end of each quarter - also attributed to the gain.
Analysts expect a further increase in the SET index tomorrow. Still, this depends on the result of Japan's central bank meeting.
