Thai stock market joins regional rallies
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The Stock Exchange of Thailand extended its gain on Tuesday, joining the rallies across Asia following the agreement a major trade deal and expectation of further easing monetary measures in developed economies.
The SET index gained 2.11 points or 0.15 per cent to 1,365.28 points as of 2.43pm.
The main focus was on the Trans-Pacific Partnership, which will see the easing of a number of barriers, including to Japan's closeted farm sector and the US car market.
Japanese Prime Minister Shinzo Abe hailed the deal and expressed a hope that China would join at some point.
"It's the opening of a new century for the Asia-Pacific region," he said in a televised news conference Tuesday.
"If China participates in this system in the future, that will contribute to both Japan's security and the stability of the Asia-Pacific region," he added.
Analysts said the news would boost stocks in the region, adding to an already upbeat mood among investors.
Toshihiko Matsuno, chief strategist at SMBC Friend Securities Co. in Tokyo, told Bloomberg News the TPP "has a lot of potential to become a big deal for the US and Japan."
He added: "Concerns over the global economy had become ingrained in the market's mindset. It's possible that the TPP has triggered some regret over having sold too much."
