Rate cut a tonic for stock investors | Bangkok Post: business

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Rate cut a tonic for stock investors

  • Published: | Viewed: 1,739 | Comments: 1
  • Newspaper section: Business
  • Writer: Nuntawun Polkuamdee & Darana Chudasri
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Recap: The market jumped at midweek in response to the surprise interest-rate cut to 2.75% by the Bank of Thailand to help shield the domestic economy from the impact of further global weakening. The SET index rose 1.07% on Wednesday and remained in positive territory through Friday. 

The SET index moved in a range of 1,286.12 and 1,314.32 points and closed at 1,307.71, up 0.83% from the week before, with daily average trade of 34.42 billion baht. Retail investors were net sellers of 3.15 billion baht in shares. Local institutions were net buyers of 2.72 billion baht, brokers 395 million and foreign funds 34 million. However, for the month to Oct 19, foreigners have been net sellers of 8 billion baht.

Big movers: The ICT sector topped the table after the Big Three succeeded in paying rock-bottom prices for 3G wireless broadband spectrum at a competition-free auction. Advanced Info Service (ADVANC) shares went up 5.45% to 202 baht, TRUE rose 1.8% to 5.70 baht and Shin Corp (INTUCH) rose 2.76% to 65.25 baht.

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