Thai share prices rise

Thai share prices closed 0.29 percent higher on Friday as investors focused on more immediate concerns as the fallout from Prime Minister Thaksin Shinawatra's resignation continued in the background, dealers said.
They said investors' were looking ahead to the Bank of Thailand's policy board meeting on Monday amid expectations that the central bank will likely raise its key interest rate by a quarter of a point to 4.75 percent.
The Stock Exchange of Thailand (SET) composite index rose 2.26 points to 770.33 and the blue chip SET 50 index gained 2.77 points to 539.71.
Gainers and losers were equal at 175, with 101 stocks unchanged on turnover of 3.8 billion shares worth 30.2 billion baht (792 million dollars).
The Thai baht closed at a new one-year high of 38.11-15 to the dollar Friday, up from Thursday's 38.36-39. The baht was at 46.45-60 against the euro, compared with 47.02-07.
On Wednesday, the Thai market soared over three percent following Thaksin's resignation announcement, which came after weeks of street demonstrations demanding his ouster over alleged abuse of power and corruption.
"The impact of Thaksin's announcement fizzled out today. While the market remained firm, we saw some profit-taking," said Kanang Duangmanee, a senior economist at Kasikorn Research Center.
The market expects the Bank of Thailand to raise its key interest rate by a quarter point to 4.75 percent due to high oil and food prices.
Thaksin said late Tuesday he would not accept the post of prime minister when parliament convenes following troubled weekend elections boycotted by the main opposition parties.
Simmering public anger against Thaksin erupted following his family's 1.9-billion-dollar tax-free sale of its stake in Shin Corp, the telecom giant Thaksin founded before entering office, in late January.
Since then, Thaksin has faced street protests demanding his ouster over alleged abuse of power and corruption. Shares in Shin Corp fell 0.25 to 37.75 baht and its flagship mobile phone unit, Advanced Info Service (AIS), slipped 1.50 to 91.50.
Thailand's top energy firm PTT rose 6.00 to 258.00 and its subsidiary PTT Exploration and Production jumped 12.00 to 588.00. Top lender Bangkok Bank was up 2.00 to 120.00 but the third-biggest lender Kasikorn Bank fell 2.50 to 68.50.
Thai Airways International was unchanged at 51.00.