Thai stocks fell 0.63 percent on Friday as bargain hunters took quick profits on energy stocks and went defensive by buying bank shares, with number three bank Kasikornbank picked on expectations of a dividend payment. The benchmark Stock Exchange of Thailand composite index dipped 4.04 points, or 0.63 percent, to 635.09 and the big-cap SET50 fell 0.65 percent to 44.36 points.
Turnover was 16.6 billion baht ($404 million), slightly higher than Thursday's 16.38 billion baht.
Kasikornbank shares, the fifth most active, rose 2.67 percent to 48 baht after the bank said it was likely to pay dividend on its 2004 earnings thanks to strong profitability.
Shares in number four bank Siam Commercial Bank rose 0.56 percent to 45.25 baht and the bank sub index gained 1.08 percent.
"Our top picks are Kasikornbank, with a target price of 57.5 baht, and Siam Commercial Bank, with a target price of 51.5 baht," Bualuang Securities said in a note to clients.
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