SET index continues rising amid election assurance

The Stock Exchange of Thailand’s main index continued rising today, up 8.72 points to close at 1,715.67 points at the end of trading session this morning.

The trade value was 42.26 billion baht, with 8.8 billion shares traded.

The rise of the SET index above the psychological 1,700 points reflected confidence of investors in the country’s political stability after the prime minister has again assured that his government will next year announced election date, said a stock analyst Chaiyos Jiwangura at Globex Securities.

He also attributed the SET increase to stronger Baht that draws more capital inflows from foreign investors to the stock market.

But he said the rise today was not as strong as the first day because all good news have already been absorbed by investors.

Board of Trade chairman Kalin Sarasin, meanwhile, said election assurance has boosted confidence of both local and foreign investors.

But what remains a concern if the new government will continue to implement the policy or make a change, he said.

Federation of Thai Industries president Jane Namchaisiri said the prime minister’s annoucement on election has contributed positively to investment atmosphere as it showed that the government will keep its election roadmap as it promised.

Tourism Industry Association president Ithirit Kinglek also said the election announcement will encourage more tourists from Europe.