Business News
Thai shares jump 5.9 per cent on European optimism
Oct 6, 2011, 9:59 GMT
Bangkok - Thai shares rose 5.9 per cent Thursday on growing investor optimism over European measures to avoid a double-dip recession, brokers said. The Stock Exchange of Thailand Index ended at 913.72, up 51.07 points.
Investor sentiment was buoyed across Asia after European policymakers moved to protect the continent's banks from the national debt crises in the eurozone.
'Investors are feeling optimistic that the European Central Bank won't hike interest rates and may lower them in the near future,' said Chaiyodh Jiwangkul, an analyst at Country Group Securities.
The Bangkok bourse has dropped more than 15 per cent over the past week because of jitters over the economy of Europe, a major market for Thai exports.
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