Bernanke's comment lifts up investors' mood
Play
The Stock Exchange of Thailand and other Asian bourses rose today, after US Federal Reserve Chairman Ben S. Bernanke backed further stimulus and the Bank of Japan maintained its policy stance.
At 3.55pm, the SET index gained 53.60 points or 3.86 per cent to 1,442.01. Turnover was brisk at Bt44 billion.
This is the first increase after three days of loss.
Bernanke yesterday backed sustained stimulus for the foreseeable future even as the minutes of policy makers' June meeting showed them debating whether to halt bond buying by the Fed this year. "Highly accommodative monetary policy for the foreseeable future is whats needed in the US economy," Bernanke said today in response to a question after a speech in Cambridge, Massachusetts.
The Bank of Japan today also revised up the economic outlook, spurred by the pledging to expand the monetary base by 60 to 70 trillion yen ($709 billion) per year.
