Trade thins out in nervous week | Bangkok Post: business

MARKET MONITOR

Recap: The Stock Exchange of Thailand rebounded to close in positive territory for three days during the week. Asian and European equities markets gained early in the week in anticipation of President Barack Obama's announcement of a major campaign to revive US employment, while sound economic data from Germany also helped sentiment. The SET index moved between 1,040.58 and 1,073.92 points and closed last week at 1,062.37 points, down 0.26%, in moderate to low turnover.

Foreign investors remained wary, however, and were net sellers of 3.52 billion baht in Thai stocks over the week. Brokers were net buyers of 1.3 billion baht, local institutions sold 959.44 million and retail investors were buyers of 3.176 billion baht.

Big movers: Telecom shares jumped after the appointment of 11 members of the long-awaited National Broadcasting and Telecommunication Commission (NBTC). Though its formation may be delayed pending an investigation by the Department of Special Investigation of the selection process, the market is still optimistic that a new 3G licence auction could be staged by the second half of next year.