Thai bank stocks soar

What I got for Christmas was ... some Thai bank stocks.

Christmas might not figure in the Buddhist calendar but the Thais found something to celebrate anyway. With the stock exchange open for business throughout the festive period local investors gorged on bank stocks, rather than goose fat and brandy butter.

There was barely a turkey in sight as the banking index soared 31.8% during the month, led by Kasikornbank, which put on almost 55%. Christmas was the busiest trading day of the month for bank stocks as local investors took the chance to buy into the sector before the foreigners returned from their holidays a kind of religio-cultural arbitrage.

The boom in bank stocks reveals a revival in confidence in the...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222