Thailand will increase the size of a state mutual fund by between 100 billion baht and 150 billion baht ($2.8 billion-$4.3 billion) to invest in local stocks, officials said on Tuesday, in a bid to support Asia’s worst performing market this year.
The Vayupak Mutual Fund will offer new units to the public by September, Finance Minister Pichai Chunhavajira told reporters. “The project should restore confidence in the capital market”, Pichai said, adding the government was also considering other support measures.
Source: REUTER
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