Thai stocks jumped by 2.05% yesterday to push the index to its highest level in 21 months as most Asian markets gained ground on continued optimism about the global economic recovery. The Stock Exchange of Thailand index closed at 774.59 points, up 15.57, in heavy trade worth 33.99 billion baht, its highest close since June 2008. Banks gained 3.92%, energy stocks rose 1.5% and petrochemicals rose 4.97%.
Foreign investors were net buyers for the 19th straight day, at 2.74 billion baht yesterday while local institutions were net buyers of 77.7 million and local investors net sellers of 2.98 billion.
Capital inflows have helped push the index up by more than 50 points this month, with the index now up 6.13% over the past three months.
Asian markets, meanwhile, continued gains for the sixth straight week, with Tokyo up by 0.8%, Shanghai by 0.1% and Seoul by 0.65%.
Concerns about the state of the Greek economy helped push the dollar up against the euro, boosting Asian shares. In Asian trade the dollar stood at 90.45 yen, up from 90.39 Thursday in New York. The euro was at 1.3621 dollars and 123.20 yen, compared with 1.3603 dollars and 123.07 yen in New York. The baht is just off a 21-month high, and closed yesterday at 32.27/31 to the dollar against 32.29/31 on Thursday.
Bangkok 7th World Most connected city to China
Bangkok also ranks 3rd in terms of the volume of Chinese corporate leasing activity over the last three years, according to a new report from real estate consulting firm JLL.
While China’s biggest corporates are increasingly flexing their global muscle as the country’s economic and geopolitical influence accelerates, Bangkok is the 10th most popular destination for mainland firms expanding overseas. (more…)
Thailand’s Special Economic Zones (SEZ) and new opportunity connected
The SEZ policy was first launched in 2015 based on the government’s belief in the strong potential of the 10 areas to connect with the neighboring countries in terms of trade, economy and investment
With its strategic location in the center of ASEAN with emerging markets, including Cambodia, Laos, Myanmar, Malaysia and southern China, on its border, Thailand is well position to connect investors to new opportunities arising from the increasing border trade and the region’s rapid economic growth.
Decrypting the Crypto Bubble : China Ban Vs. Thailand’s cautious welcome
ICO has gained popularity among tech startups as a convenient and timely way to access funding. In the past few months, ICO has grown exponentially and has surpassed early stage venture capital funding
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