1,482 as new SET index target

As the Stock Exchange of Thailand composite index already passed the previous 16-yearrhigh at 1,464 points, Asia Plus Securities expects a new high at 1,482 points.

The index gained 10.64 points or 0.73 per cent, to close at 1,472.05 points, the highest in 16 years and 11 months. Turnover was also high at Bt59 billion.

Year to date, foreign investors are net-buyers of Thai shares, with net-buy position of Bt15 billion.

Asia Plus said in the afternoon note that Thai market has risen in tandem with Asian bourses, fuelled by stimulus measures in many countries. For example, India increased rupee-denominated bond holding by foreign investors by US$10 billion to $75 billion.

"This improved the regional sentiment and spurred speculation. In the morning, Vietnam’s bourse experienced a 3.01 per cent gain, followed by 0.47 per cent in Hong Kong, 0.29 per cent in Taiwan and 0.25 per cent in the Philippines," it said.