Thai share prices closed 0.52 percent higher on Tuesday after three consecutive days of losses as the central bank reported a boost in the current account surplus, dealers said. They also said investors took heart from the Bank of Thailand's decision Monday to revise up its growth projections for this year and next.
The Stock Exchange of Thailand (SET) composite index gained 3.72 points to 722.46, and the blue chip SET 50 index rose 2.48 points to 504.55. Gainers outnumbered losers 251 to 85 and 109 were unchanged with turnover of 2.0 billion shares worth 9.9 billion baht (269.4 million dollars).
The Thai baht gained against the dollar Tuesday to 36.70-75 baht to compared to Monday's close of 36.78-80. The Thai unit also rose against the euro, closing at 46.45-75 baht to one euro against 46.76-80.
"The index gained today but it's not a significant rise after three days of drops. There were not enough positive factors to support buying," Pichai Lertsupongkit of Prudent Siam Securities said. Pichai said the Bank of Thailand's monthly report showing that a current account surplus of 1.2 billion dollars in September was in line with market expectations.
"Investors will wait for Wednesday's release by the Commerce Ministry of inflation figures, which are expected to drop further from 2.7 percent in September. That would allow the central bank to ease its monetary policy," he said.
The country's top lender Bangkok Bank was unchanged at 115.00 baht, but Kasikornbank added 0.50 to 69.00, and Siam Commercial Bank rose 1.00 to 65.50. Thailand's largest energy firm PTT fell 2.00 to 222.00, and its subsidiary PTT Exploration and Production lost 1.00 to 109.00. Thai Oil was up 0.50 at 61.00. Siam Cement stayed put at 242.00 while Airports of Thailand gained 2.00 at 66.00.
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