Post by mangomoney on Aug 9, 2016 13:33:42 GMT 7
Shares soar after poll
Investors rush for assets, baht rises
Published: 9/08/2016 at 06:00 AM
Newspaper section: Business
Thai shares climbed to a 16-month closing high, up 1.6%, and the baht rose yesterday after Sunday's overwhelming Yes vote for the new constitution.
The result, seen as a big step towards a general election next year, revved up investor appetite for Thai assets.
Asian stock market gains, propelled by tempered concerns on the world's largest economy following upbeat US job data, also bolstered sentiment.
The SET index shot up to 1,539.17 points at the opening bell from 1,518.69 at the market close on Friday. The buying spree intensified in the afternoon session and pushed the main gauge to close at 1,542.26 -- a level unseen since April last year. Turnover was heavy at 76.3 billion baht.
Foreign investors bought 6.89 billion baht more than they sold yesterday alone, stretching to 89.4 billion this year.
Thai shares have surged almost 20% this year, making the SET index the best performer in Asia.
The baht rose to 34.97 per dollar yesterday after falling to a three-week low of 35.08 on Friday, according to Reuters data.
more...
www.bangkokpost.com/business/finance/1056589/shares-soar-after-poll
Investors rush for assets, baht rises
Published: 9/08/2016 at 06:00 AM
Newspaper section: Business
Thai shares climbed to a 16-month closing high, up 1.6%, and the baht rose yesterday after Sunday's overwhelming Yes vote for the new constitution.
The result, seen as a big step towards a general election next year, revved up investor appetite for Thai assets.
Asian stock market gains, propelled by tempered concerns on the world's largest economy following upbeat US job data, also bolstered sentiment.
The SET index shot up to 1,539.17 points at the opening bell from 1,518.69 at the market close on Friday. The buying spree intensified in the afternoon session and pushed the main gauge to close at 1,542.26 -- a level unseen since April last year. Turnover was heavy at 76.3 billion baht.
Foreign investors bought 6.89 billion baht more than they sold yesterday alone, stretching to 89.4 billion this year.
Thai shares have surged almost 20% this year, making the SET index the best performer in Asia.
The baht rose to 34.97 per dollar yesterday after falling to a three-week low of 35.08 on Friday, according to Reuters data.
more...
www.bangkokpost.com/business/finance/1056589/shares-soar-after-poll
