ID :
200296
Wed, 08/10/2011 - 08:59
Auther :
Shortlink :
http://m.oananews.org//node/200296
The shortlink copeid
SET index rebounds by over 20 points in line with Dow Jones
BANGKOK, August 10 (TNA) - Asian stock markets recovered for the first time in seven working days, with the index of the Stock Exchange of Thailand (SET) rebounding by 22 points shortly after opening on Wednesday.
The recovery came in line with the rise in the Dow Jones Industrial Average Index of 430 points on Tuesday’s trading session, following the U.S. Federal Reserve policy to ground its interest rate to near 0 percent until mid 2013.
The SET composite index peaked at 1,066.83 points, rising by 24.29 points, thanks to strong gains in blue chip shares in the energy, banking, communication and petrochemical sectors.
Meanwhile, an analyst at Far East Securities Co. commented on the rebounding Thai stocks, saying the Federal Reserve’s interest rate policy had relieved concerns over the possibility of another U.S. economic crisis.
The analyst also attributed the recovery to strong fundamentals in the Thai economy, coupled by the smooth cabinet formation process, saying he expected the SET index to have a resistance level at 1,070 points and a support level at 1,040-1,050 points. (TNA)
The recovery came in line with the rise in the Dow Jones Industrial Average Index of 430 points on Tuesday’s trading session, following the U.S. Federal Reserve policy to ground its interest rate to near 0 percent until mid 2013.
The SET composite index peaked at 1,066.83 points, rising by 24.29 points, thanks to strong gains in blue chip shares in the energy, banking, communication and petrochemical sectors.
Meanwhile, an analyst at Far East Securities Co. commented on the rebounding Thai stocks, saying the Federal Reserve’s interest rate policy had relieved concerns over the possibility of another U.S. economic crisis.
The analyst also attributed the recovery to strong fundamentals in the Thai economy, coupled by the smooth cabinet formation process, saying he expected the SET index to have a resistance level at 1,070 points and a support level at 1,040-1,050 points. (TNA)
