Thai share prices closed 1.13 percent higher on Thursday in line with new record highs on Wall Street amid hopes for a soft landing for the US economy, dealers said. They said gains across the region also boosted the Thai market with buying spread across the board.
The Stock Exchange of Thailand (SET) composite index rose 7.76 points to 695.72 and the blue chip SET 50 index gained 6.09 points to 487.19. Gainers outnumbered losers 264 to 79 with 113 stocks unchanged on turnover of 2.9 billion shares worth 13.8 billion baht (423 million dollars). The Thai baht closed at 37.60-62 to the dollar from Wednesday's 37.57-63 and at 47.75-82 to the euro after 47.58-83.
"Sentiment was upbeat as investors speculated there would be no more US rate hikes," said Thanomsak Saharatchai, a senior market analyst at Capital Nomura Securities. Thailand's largest energy firm PTT was unchanged at 212.00 baht and its subsidiary PTT Exploration and Production also traded flat at 105.00. The country's top lender Bangkok Bank rose 3.00 to 112.00, and the third-largest lender Kasikorn Bank gained 2.50 to 68.50.
Thai Airways International edged up 0.50 to 48.75.
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