Thai shares up more than 6 per cent as investors return to market

Business Materials 30 October 2008 14:24 (UTC +04:00)

Thai shares rose 6.29 per cent Thursday as domestic investors snapped up bargains.

The Stock Exchange of Thailand closed up 24.16 points at 408.31 after markets across the region rose on renewed investor optimism after the US Federal Reserve's overnight interest rate cut, reported dpa.

"It is a technical rebound, back to the original Thai market," said Puwado Labudomsuk, analyst at Asia Plus Securities.

"Share prices on the Thai stock market are attractive to investors now," he said.

But trading volume was low, indicating foreign investors might not yet be confident enough to return to the market, he added.