Thai share prices closed 0.59 percent higher on Thursday, led by gains in the energy sector as investors adjusted their portfolios for the end of the second quarter, dealers said. They said investors continued to trade with caution as they awaited a US Federal Reserve decision on interest rates later in the day.
The Stock Exchange of Thailand (SET) composite index rose 3.91 points to 670.71 while the blue chip SET 50 index gained 3.47 points to 465.74. Gainers led losers 203 to 104 while 114 stocks were unchanged on trade of 1.59 billion shares worth 9.9 billion baht (260 million dollars).
The Thai baht closed at 38.45-47 to the dollar, little changed from Wednesday's 38.43-47. Against the euro, the Thai currency closed at 48.16-21 from 48.25-35.
"The market rose mainly on window-dressing activity. Foreign investors were buying energy shares to adjust their portfolios before the end of the second quarter," said Pichai Lertsupongkit, a senior market analyst at Prudential Siam Securities.
While the market extended gains for a third consecutive day, the advance was modest as investors remained cautious ahead of the US Federal Reserve's expected rate hike later in the day.
Shares in Thailand's top energy firm PTT rose 2.00 baht to 222.00 and its subsidiary PTT Exploration and Production was unchanged at 105.00. Thai Oil gained 0.50 to 62.50. Bangkok Bank added 0.50 to 99.50 and Kasikorn Bank, the third-largest bank, also rose 0.50 to 58.50. Thai Airways International gained 0.75 to 39.75.
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