Thais in all social sectors want peaceful end to rallies, says SET chief

BANGKOK, Mar 23 (TMA) – All segments of Thai society want to see a peaceful end to the ongoing political rallies so that investors and the business community can have confidence and make investment plans as usual, according to Stock Exchange of Thailand (SET) president Pattareeya Benjapolchai.

Should the government and the United Front for Democracy Against Dictatorship (UDD, the Red Shirts) settle the standoff by negotiation in the national interest, she said, it would help not only the stock market, but also the country’s overall economy.

The stock exchange chief attributed the continued SET index rally now to the improved economic fundamentals and more handsome profits gained by listed companies, which encouraged investment by foreign investors in the Thai bourse.

However, she warned investors to be careful in investing in the market now, saying the index had already surged for a while and could consolidate its base anytime.

Investors must take into consideration the political situation and the direction of foreign stock markets for their investment decision, she said.

The SET index moved in a narrow range at the opening bell before edging up at the closing of Monday’s trading session, but it lost ground due to profit-taking in the afternoon and closed at 772.25 points, down marginally 2.34, in heavy trade of Bt42.1 billion. (TNA)