MARKET MONITOR
Thai bourse joins in relief rally as us backs away from threatened financial cliff
- Published: 7 Jan 2013 at 00.00
- Newspaper section: Business
Recap: The Stock Exchange of Thailand joined other regional markets to stage a rally in the first week of 2013 after US legislators agreed on a quick fix to prevent the country from falling off a fiscal cliff. Now comes the hard part: reining in unsustainable spending and debt.
The SET closed above 1,400 points with heavy trading volume on all three days. However, analysts suggested investors act with caution, as the market might drop this week due to pressure from long-term equity fund sales.
The SET index moved in a range of 1,391.93 to 1,416.67 points and closed at 1,416.66, up 1.8% from the end of 2012, in heavy daily trade averaging 45.8 billion baht.
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