SET climbs up despite UDD’s mass rally

BANGKOK, 17 March 2010 (NNT) – The Stock Exchange of Thailand (SET) composite index on Wednesday morning is still climbing and rose by 10.72 points to close at 762.92 points with a trade value of 16.90547 billion THB.

The SET index increased immediately by 7.08 points as the trade started at 10.00 hrs. The peak of the trade this morning was at 763.38 points. The SET index has been climbing since Tuesday despite the ongoing major rally of the anti-government United Front of Democracy Against Dictatorship (UDD).

Main stocks in attention of foreign investors were from energy companies, commercial banks, and construction material companies. Many analysts believed that the stock market trade would be rocketing in line with the ongoing appreciation of the Thai Baht.

Foreign investors are expected to buy high volume of stocks similar to Tuesday. However, small Thai investors have been selling their shares partially due to lack of confidence, as they ancitipate potential violence amid the ongoing rally.