Thai stocks seen rebounding, new cabinet to lend support
BANGKOK: Thai stocks were expected to rebound on Wednesday in line with other Asian bourses, while the announcement of a new cabinet would lend support, analysts said.
On Tuesday, the Thai SET index fell 3.31 percent to finish at 1,042.54, tracking falls in global stock markets, which were hammered by fears of a world recession.
Foreign investors sold Thai shares worth a net 8.9 bilion baht ($301 million) on Tuesday, up from 5.3 billion baht on Monday.
"Thai stocks should rebound in line with the Dow Jones and other Asian bourses and I think the announcement of acceptable economic ministers, including the finance minister, should be another positive factor," said Parin Kitchatornpitak, a senior analyst at broker Far East Securities.
Tokyo's Nikkei share average rose more than 2 percent on Wednesday after the US Federal Reserve's pledge to keep rates near zero for another two years sparked a rally in US stocks.
Copyright Reuters, 2011
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