Thai share prices closed 0.11 percent higher on Friday amid falling oil prices, as small-cap domestic-oriented stocks boosted the volume, dealers said.
They said investors stayed on the sidelines to wait for policy movements regarding interest rates and the possible lifting of martial law after the September 19 coup.
The Stock Exchange of Thailand (SET) composite index gained 0.78 points to 733.92, and the blue chip SET50 index rose 0.21 points to 512.39. Gainers led losers 193 to 140, with 122 stocks unchanged on turnover of 2.3 billion shares worth 15 billion baht (5 million dollars).
The Thai baht slipped slightly from an eight-year high, closing at 36.60-64 to the dollar from Thursday's 36.48-52, and finished at 46.65-90 to the euro from 46.65-78. "Airlines and related stocks gained from falling oil prices but the Thai market did't move much compared to the region because there is no catalyst," said Thanomsak Saharatchai, a senior market analyst at Capital Nomura Securities. "The market is still in a correction period, awaiting clear policy actions mainly on interest rate cuts and lifting of the martial law," he said.
Meanwhile, foreign investors have delayed buying Asian stocks to minimise currency risks while they boosted investment in the United States where markets remain at new highs, Thanomsak added. Thailand's largest energy firm PTT Plc lost 2.00 baht to 224.00, and its subsidiary PTT Exploration and Production dropped 2.00 to 104.00.
The kingdom's top lender Bangkok Bank gained 1.00 to 124.00, while the third-largest lender Kasikorn Bank edged down 0.50 to 70.00. Flag carrier Thai Airways International rose 1.25 to 49.25, while the biggest mobile phone operator, Advance Info Service plunged 1.50 to 82.50.
Comments
Comments are closed.