(1888PressRelease)
May 02, 2009 - Singapore's benchmark index jumped 3.8 percent to its highest since April 17, with the country's biggest lender, DBS Group, rising 4.4 percent and its largest developer, CapitaLand, climbing 7.8 percent.
Thailand's SET index gained 2.4 percent, earlier hitting its highest since Oct. 15, with top energy firm PTT up 2.3 percent, leader Bangkok Bank up 4.6 percent and top conglomerate Siam Cement SCC.BK up 3 percent.
“Positive data from the United States, plus data suggesting the Thai economy might have bottomed out in the first quarter, boosted risk appetite,” said Stephen Yang, an analyst with Seedorf Luxman & Partners in Singapore.
"It's a sentiment drive across Asia today, backed by
positive signs from the U.S. economy," the Seedorf Luxman & partners analyst said. "For the Thai market, a good number of funds moved out from the money market to equities today and it's because of more political stability and the economic hopes,” he said.
Seedorf Luxman & Partners are a specialized advisory and consultancy company that provides investors with the resources necessary to find small stocks with tremendous growth potential, unknown to the general investing public. All of our team with comprehensive fields of expertise are driven by a focus upon helping our clients meet their investment objectives. Whether you are an individual investor or an institutional client we will provide an excellent level of service.
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