Thai shares ride over downward pressure
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Thai shares ended higher on Tuesday, despite a loss in the morning session on political concerns at home.
Brokerage houses said there are fears that the anti-government protest would be prolonged and hurt the economic climate.
However, at noon, the index reversed to the positive territory, gaining 10.91 points or 0.77 per cent. Turnover was tuned at Bt14.8 billion.
The market ended 5.08 points or 0.36 per cent higher, on turnover of Bt28.59 billion. Foreign investors and individual investors remained net-sellers for the second day. Foreign net-sells hit Bt999.53 million.
External pressure also built up, as fears for tapering in the US quantitative easing (QE) renewed.
At 10.34am, the Stock Exchange of Thailand index stood at 1,415.83 points, down by 8.48 points or 0.60 per cent. Turnover remained thin, at Bt5.33 billion.
On Monday, the market managed to close higher, but with the thinnest turnover in eight months. The turnover of Bt20.88 billion was just half of the average daily turnover in July, worth Bt44.4 billion, according to the exchange’s data. By month, July’s average daily turnover is the lowest in this year, against the peak of Bt68.46 billion in March.
