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    Thai stocks recover after China’s stimulus plan

    Posted Date: 2009-03-05 21:02:01

    By Manager Online 5 March 2009 16:55 

    Bangkok (ASTV Manager Online) – Thai stock index went up 5.50 points during the market closing this morning. Index hike was supported by positive regional markets.
           The index closed at 423.50. Trading volumes valued more than 5.5 billion baht.
           Index rise was supported by supportive factors from the United States and other Asian markets, according to Mr. Apisak Limthamrongkul, director of SCIB securities analysis institute.
           Psychological impact was also derived from the announcement of China’s economic stimulus plan.
           Chinese government planned to allocate about 42 billion dollars of budget to stimulate the job market.
           China’s employment figures sharply dropped because of the global financial crisis.
           Apisak said that there would be more profit taking in the afternoon. As a result, the index would narrowly swing at 420-425 points.

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