Business News
Thai shares up 2.02 per cent as rumours fade
Oct 19, 2009, 10:16 GMT
Bangkok - Thai shares rose 2.02 per cent on Monday as investor confidence returned to the kingdom, analysts said.
The Stock Exchange of Thailand (SET) index closed at 731.61, up 14.49 points or 2.02 per cent.
Last week, the SET index tumbled 7 per cent in two days of panic selling on rumours about Thai King Bhumibol Adulyadej's health.
Bhumibol, 81, has been in hospital since September 19 with a lung infection. The finance minister and members of the royal family have dismissed the rumours affecting the market, sparking a rebound Friday which carried over to Monday.
'Investors are back after last week's rumours,' said Mongkol Phuengpatra, an analyst at Country Group securities.
Another positive factor affecting the local bourse was higher world oil prices, which gave energy-related stocks a boost, he said.
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