Fund managers dismissed notions of a stock market bubble as the Stock Exchange of Thailand (SET) rallied 3.04% yesterday on a technical rebound after last week's 7.46% plunge.
The benchmark SET Index surged at the opening bell and moved in positive territory throughout the session to close at 1,523.95, up 44.98 points, with active trading worth 58.35 billion baht.
Last week's selling spree was triggered by a slew of concerns over potential harsh measures to be launched by the central bank to curb the baht's 16-year high. Traders were also worried by the SET's plan to raise the cash account collateral value, and uncertainties over Cyprus's debt crisis. The 7.46% market fall was the biggest weekly drop since October 2008.
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