MARKET MONITOR
US budget impasse keeps lid on equity gains
- Published: 4 Mar 2013 at 00.00
- Newspaper section: Business
Recap: Worries about automatic US spending cuts of $85 billion that began on Friday plus uncertainty about the future of Federal Reserve stimulus dampened sentiment on Wall Street and affected emerging markets. However, Fed chairman Ben Bernanke's reassurances about his commitment to the quantitative easing plan helped to calm markets.
The SET index rebounded and reached a 19-year record of 1,549.5 points on Friday morning before easing back. For the week the index traded in the range of 1,518.02 to 1,549.82 points and closed at 1,539.8, down 0.03% from the week before, with heavy daily average turnover of 64.5 billion baht.
Foreign investors were net buyers of 3.22 billion baht, putting them back into the net-buy column for the year. Institutional investors were net sellers of 950 million baht, brokers 172 million baht and retail investors 2.1 billion baht.
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