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177265
Fri, 04/22/2011 - 12:38
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http://m.oananews.org//node/177265
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SET index posts fastest advance in Southeast Asia
BANGKOK, April 22 (TNA) - The Stock Exchange of Thailand (SET) composite index has now posted the fastest advance in Southeast Asia, as it has soared by 5.05 per cent from the end of last year.
Thienthip Supanich, Director of Thailand's Capital Market Research Institute, said that since February this year, foreign investors have made a net purchase amounting to 23.38 billion baht, which has boosted the SET index.
According to Thienthip, foreign investors are interested in Thai stocks which gave high returns of 3.67 per cent at the end of the first quarter of this year, compared with some 3.56 per cent returns at the end of last year. The investors have also expected performances of listed companies on the Thai bourse to grow by 20 per cent in the first quarter of this year. Thienthip acknowledged that the Indonesian and Philippine stock exchange indices are declining due to the outflows of foreign funds.
Veerathai Santiprabhob, SET chief strategy officer, said that foreign investors have also considered Thai inflation as not serious, compared with that of other emerging nations, and that rising oil prices are benefiting energy stocks they are investing, accounting for as much as 30 per cent of the Thai stock exchange. This is also raising the SET index.
Veerathai suggested that international investors keep investing on the Thai stock market due to high liquidity, noting that the Federal Reserve (FED), the US central bank, has kept low interest rates and has, thus, prompted investment funds to find higher returns in other countries, including Thailand and other Asian nations due to their strong economic fundamentals. (TNA)
Thienthip Supanich, Director of Thailand's Capital Market Research Institute, said that since February this year, foreign investors have made a net purchase amounting to 23.38 billion baht, which has boosted the SET index.
According to Thienthip, foreign investors are interested in Thai stocks which gave high returns of 3.67 per cent at the end of the first quarter of this year, compared with some 3.56 per cent returns at the end of last year. The investors have also expected performances of listed companies on the Thai bourse to grow by 20 per cent in the first quarter of this year. Thienthip acknowledged that the Indonesian and Philippine stock exchange indices are declining due to the outflows of foreign funds.
Veerathai Santiprabhob, SET chief strategy officer, said that foreign investors have also considered Thai inflation as not serious, compared with that of other emerging nations, and that rising oil prices are benefiting energy stocks they are investing, accounting for as much as 30 per cent of the Thai stock exchange. This is also raising the SET index.
Veerathai suggested that international investors keep investing on the Thai stock market due to high liquidity, noting that the Federal Reserve (FED), the US central bank, has kept low interest rates and has, thus, prompted investment funds to find higher returns in other countries, including Thailand and other Asian nations due to their strong economic fundamentals. (TNA)
