SET Surges Nearly 80pts to 1,217 after Thai Cabinet Greenlights ฿1.9tn Stimulus Packages

SET Surges Nearly 80pts to 1,217 after Thai Cabinet Greenlights ฿1.9tn Stimulus Packages.

The Stock Exchange of Thailand (SET) Index continued its rally in the afternoon session after the Thai Cabinet gave a greenlight on stimulus plans worth 1.9 trillion baht to negate effects from the coronavirus outbreak.

 

The plan includes 1) 6 months remedial plan for Thai citizens as well as economic recovery plan 2) allowing the Bank of Thailand (BOT) to issue a soft loan to buoy business sector with 2% loan interest rate for SME 3) A remedial plan for financial sector and founding BSF, allowing BOT to buy and sell securities.

SET Index rose 78.33 points or 6.9% to 1,217.17 points in response to the newly announced stimulus plans during the coronavirus crisis.

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