Thai stocks bounce back
Thai stocks have rebounded on the back of the country’s strong economic fundamentals after a steep drop of 64 points to an 18-month low on 24 August, Finance Minister Apisak Tantivorawong said on 25 August.
The Thai bourse joined several other Asian and European markets in the recovery, but China’s Shanghai Composite and Japan’s Nikkei 225 continued their second day of huge losses, dropping a further 7.63 per cent and 3.96 per cent, respectively.
Across Asia, financial authorities reacted swiftly to China’s rout after share prices fell more than 15 per cent in two days, fearing the prospects of serious spill-over effects.
In Bangkok, Apisak said the Thai economy remained solid, which supported a slight rebound in the Stock Exchange of Thailand (SET) Index that closed at 1,323 on 25 August, up 1.75 per cent, after losing 4.73 per cent on 24 August.
