SET index hits 18-year high

The Stock Exchange of Thailand advanced to the 18-year high despite foreign sell-offs.

At the close, the SET index stood at 1,526.74 points, gaining 12.63 points or 0.83 per cent from the previous closing. Turnover was as brisk as Bt58 billion.

"In the week where several Asian bourses are closed for the Lunar New Year, the regional sentiment has been quiet," said Asia Plus Securities. "Plus, the Bank of Japan ended the meeting without new measures to boost the market."

To the house, foreign net-buys of Bt823 million yesterday were insignificant, indicating the uncertainty that foreign investors have really returned to Thailand. Moreover, their transactions accounted for only 13 per cent of total, below the 19 per cent year-to-date average.

"This indicates that there could be possible sell-offs," it said in a research note.

The Bank of Japan on Thursday held off pulling the trigger on fresh policy action, following the announcement of an indefinite easing programme last month, while serving up a rosier view of the economy. Following a two-day policy meeting, the BoJ also held rates steady at zero to 0.1 per cent, as its Governor Masaaki Shirakawa prepares to step down, making way for new leadership widely expected to embrace Prime Minister Shinzo Abe's views on aggressive easing. Japan's premier and top central banker were unable to see eye-to-eye on policy matters, as the Abe-led government demanded that the BoJ fall in line with its prescription to heal the economy.

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Article source: http://www.thethailandlinks.com/2013/02/14/set-index-hits-18-year-high/