July 9, 2008
Bangkok - Thai stocks jumped up ten points this morning in line with Yongyut Tiyapiarat’s red card news and possibility of the People’s Power Party (PPP) disbandment.
The stock index positively went up to remain at 733.04. The trading volumes were 4,288.37 million baht.
The investors became more relaxed as the Constitutional Court and Supreme Court agreed to red card Yongyut Tiyapairat, PPP’s partylist MP, according to analysts.
Investors previously held cash to reduce risk due to political worries.
Banking and energy shares were mostly traded. As a result, the index rose over the resistance at 730.
Pongrat Rattanatavananont, Bualuang Securities Plc’s securities analysis manager, revealed the Thai stock market’s technical rebound was in line with overseas markets’ rebound.
At about 11 AM, the index remained at 735.51 million baht, up 13.01 points. Trading volumes were 5,765.37 million baht.
