Baht, bonds rise
- Published: 7 Jan 2013 at 10.32
- Online news: News
Thailand's baht advanced toward a 10-month high and government bonds rose as United States jobless numbers supported demand for emerging-market assets.
Employers in the US, Thailand's third-largest export market, added 155,000 workers last month, more than the median estimate in a Bloomberg survey for 152,000, Labour Department figures showed Jan 4. Global funds purchased US$128 million more Thai equities than they sold last week and bought a net $341 million of sovereign securities, according to data from the stock exchange and the Thai Bond Market Association.
"Funds have been flowing into Asia and good data leads to speculation of more inflows into the region," said Tohru Nishihama, an economist at Dai-ichi Life Research Institute Inc. in Tokyo. "The situation will continue and that supports Asian currencies."
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