Thai share prices closed 0.07 percent higher on Thursday, supported by robust gains across the region and Wall Street smashing the 13,000-point barrier for the first time, dealers said. They said the Thai market held firm on buying of energy and construction stocks.
The Stock Exchange of Thailand (SET) composite index rose 0.49 points to 690.79, while the blue chip SET 50 index added 0.46 points to 484.74. Losers led gainers 157 to 126, with 156 stocks unchanged on turnover of 1.6 billion shares worth 12.5 billion baht (360 million dollars).
The Thai baht traded flat against the dollar, closing at a nine-year high of 34.80-82. Against the euro, the Thai currency finished at 47.35-40 from 47.42-50. "Investors bought energy and construction stocks as sentiment was upbeat due to strong gains in the region" which came after the US stock market broke the 13,000-point barrier for the first time on Wednesday, said Kanang Duangmanee, an economist at Kasikorn Research Centre.
But she added overall gains in the Thai market were limited due to ongoing political worries following a September coup. Thailand's top energy firm PTT rose 4.00 baht to close at 214.00, while its subsidiary PTT Exploration and Production was flat at 91.00.
The nation's top lender Bangkok Bank traded was unchanged at 111.00, but the third-largest lender Kasikorn Bank fell 0.50 to 67.00. Thai Airways International was flat at 47.00 and Thailand's largest mobile phone operator, Advanced Info Service, was also unchanged at 74.50. Thailand's largest industrial conglomerate, Siam Cement, fell 2.00 to 234.00 after announcing a 14-percent drop in net profit in the first quarter of 2007 due to a slowdown in the economy.
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