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Tuesday, February 09, 2010

Thai Bourse Keeps Trading Volume Target Despite Uncertainty

By Piyarat Setthasiriphaiboon

Dow Jones Newswires

BANGKOK -(Dow Jones)- The Stock Exchange of Thailand is maintaining its 2010 average daily trading volume target at THB18.5 billion ($557.4 million) despite a fragile economy and heightened political uncertainty, the bourse's president, Patareeya Benjapolchai, said Tuesday.

"It (average trading target) is still in the level that will be able to hit our target," she told reporters, adding that this year the bourse will focus more on luring new listings.

The SET is aiming for new listings this year to hit THB100 billion in market capitalization.

Patareeya said daily trading has been lower than THB15 billion in recent weeks, with the SET Index falling almost 10% from its Jan. 15 peak of 753.17. In the year-to-date, average trading volume has been THB17.7 billion.

Worries over the European economy and an unhealthy domestic political environment have taken their toll on the market. The SET said the average daily trading volume in 2009 was THB17.85 billion.

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