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Thai Stocks climb on China economic figures

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Thai stocks climbed 1.29% yesterday as most Asian markets closed higher on positive economic news from China. The Stock Exchange of Thailand closed at 703.64 points, up 8.93, in trade worth 15.2 billion baht. Energy stocks gained 1.43%, banks rose 1.17% and ICT stocks closed up 2.15%.

Local institutional investors were net buyers of 851.55 million baht in stocks, while foreign investors were net sellers of 163 million baht and local investors net sellers of 678.74 million baht.

Markets across the region were buoyed by reports that Chinese exports in November fell just 1.2% from the year before, the smallest decline for the year and a sharp improvement from the 13.8% year-on-year decline posted in October.

In Bangkok, some analysts expected a market correction soon.

Industrial output and retail sales figures for China also improved, fuelling optimism about economic trends. Tokyo's Nikkei 225 average rose 2.5%, Hong Kong gained 0.9% and South Korea rose 0.3%.

Tawatchai Asawapornchai, vice-president for the research department at Globlex Securities Co, said the SET index rose in line with other regional markets.

via Stocks climb on China economic figures.

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