The Thai stock market rebounded above the 1,400 threshold on Wednesday, following a tumultuous period marked by a steep decline to 1,365 points last week.
A wave of selloff activity in key stocks had driven the downturn, primarily triggered by concerns regarding CPAXT’s investment decisions in The Happitat. Compounding the market’s challenges, Thai Oil’s announcement to shareholders of increased investment in its Clean Fuel Project sparked worries over rising expenses.
The climate of uncertainty gradually subsided as both CPAXT and Thai Oil engaged in comprehensive dialogues with investors and fund managers, offering detailed clarifications to underscore their commitment to cautious and transparent business operations. This proactive communication played a crucial role in stabilizing investor sentiment, thereby aiding in the stock market’s recovery.
