ID :
211486
Thu, 10/06/2011 - 09:33
Auther :

Thai stocks surge in wake of European bailout plan

BANGKOK, October 6 (TNA) - The Stock Exchange of Thailand (SET) composite index soared over 20 points on Thursday morning, in line with global stock markets in the wake of a new bailout plan announced by European finance ministers and a new economic stimulus expected soon from the US Federal Reserve (FED).

The SET index rose 24.29 points at the start of Thursday's trading and further climbed up 28.48 points to a peak at 891.13 points, over 2 per cent up from its closure at 862.65 on Wednesday, after the US Dow Jones industrial average index surged 131 points when it closed at 10,939 on Wednesday. Hong Kong stocks soared 700.96 points or 4.31 per cent to close on Thursday morning at 16,951.23 points.

The upbeat global stock sentiment followed a move recently agreed by the European finance ministers to inject more capital, said to be more than 140 billion euros totally, for troubled banks in the 27-member European Union (EU) and the FED's anticipated move shortly to introduce a new economic stimulus package to boost US economy, the world's most powerful. (TNA)

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