Baht makes further gains on optimism about emerging markets

       The baht continued to trade at 13-month highs yesterday as signs that a global economic recovery is gaining traction encouraged fund managers to invest more heavily in emerging markets.
       Local policymakers do not see any signs of asset-price bubbles developing,said Paiboon Kittisrikangwan, a Bank of Thailand assistant governor.
       The baht has risen 1.4% this month as overseas investors have been net buyers of $545 million in Thai equities.
       "It's all about sentiment," said Usara Wilaipich, chief economist at Standard Chartered in Bangkok."There is more optimism on the global outlook. That is encouraging short-term portfolio inflows into the region, including Thailand. The dollar-baht will move lower."
       The baht rose to 33.51 per dollar yesterday from 33.60 on Tuesday.