SET posts record winning streak | Bangkok Post: business

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SET posts record winning streak

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Thai stocks rose, with the benchmark index posting its longest rally in almost four years, and the baht gained as international investors poured money into the nation’s assets on speculation the economy will rebound. 

The SET Index added less than 0.1% to close at 1,507.92, a 10th day of gains, the longest stretch of advances since August 2010. The gauge entered a bull market last month. The baht rose as much as 0.5% to 32.232 versus the dollar, the strongest intraday level since April 29.

Foreign funds have poured a net $843 million into Thai stocks and bonds this month, betting that accelerated spending by the military government will revive Southeast Asia’s second- biggest economy after it contracted in the first quarter. Junta leader Prayuth Chan-Ocha has approved new investment projects to spur growth since seizing power on May 22 amid escalating tensions between opposition politicians and former prime minister Yingluck Shinawatra’s party.

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