Thailand’s stock market opened nearly 9 percent higher Wednesday, recovering from a historic fall that shook regional markets and sparked concerns over another Asian financial crisis.
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Original post by The Associated Press on Topix.net
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Money managers and other institutional investors sold shares in emerging markets around the world on Tuesday after Thailand imposed then rescinded currency controls on stock investments in that Asian nation.
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Thai stocks are set to recover from their worst rout in 16 years after the government performed an abrupt U-turn on drastic measures to rein in the soaring baht.
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Stocks in the U.S. recovered from an early selloff as worries about a new Asian-market meltdown proved short-lived, and the Dow Jones Industrial Average surged to a new all-time closing high.
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The Dow Jones industrial average, boosted by rising oil prices, rallied late Tuesday to another record close.
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The Dow Jones industrial average reached another record close on Tuesday as investors largely looked past economic and earnings reports that had stirred concerns about the health of the economy.
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Tuesday 19th December, 2006 U.S. stocks indexes continued their slow descent in afternoon trading Tuesday, bothered by a report that indicated inflation may be more a threat than expected.
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Thailand was forced into an astonishing retreat from its controversial move to impose controls on equity investment by foreign investors after Bangkok shares suffered their steepest one-day plunge since 1990.
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The Thai government performed an abrupt U-turn on Tuesday after the stock market suffered its worst fall in 16 years as foreign investors pulled the plug in response to drastic measures to rein in the baht.
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BANGKOK, Thailand _ Foreign investors bailed out of the Thai stock market in droves Tuesday, forcing Thailand’s military government to abandon just-announced measures aimed at stemming the country’s surging …
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