SET Jumps 14pts on Hopes for Fresh Stimulus Packages
SET gains 14 points in the afternoon session as Investors jump back into big-cap stocks following government's decision to raise the public debt ceiling
The SET Index as of 15:57 local time in Thailand was at 1,616.87 points, gaining 13.81 points or 0.86%, with a total trading value of 69.87 billion baht.
The analyst stated that the market rebounded today (September 21) in hopes for a new round of economic stimulus measures after the government raised the ceiling of public debt-to-GDP ratio to 70% from 60%. Yesterday (September 20) the Thai market was overshadowed by the concerns over debt problems of China’s second largest real estate company Evergrande Group.
Raising the public debt ceiling has boosted banking stocks, as well as perhaps domestic plays, making a significant contribution to the SET Index’s return to green territory. Global plays, on the other hand, remain under pressure from China Evergrande Group’s debt problems.