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Thai share prices are expected to rise next week on gains in the energy sector on the back of soaring global oil prices, which hit a record high 90 dollars per barrel, dealers said.
"Investors will continue to buy energy and oil shares. Buying sentiment remains positive as oil prices hit a record high," said Chai Chirasevenupraphand, a market strategist at Capital Nomura Securities.
Energy shares alone account for nearly 30 percent of the Thai stock market.
World oil prices hit a historic 90.02 dollars per barrel in electronic trade after the market close on Thursday on fears over a possible incursion by Turkey into northern Iraq - where many of the country's largest oil fields are based.
Apart from the oil factor, sentiment would turn upbeat as investors took heart from the Thai king's approval Friday of December 23 as the date for Thailand's first general elections since last year's military coup.
His approval made the election date official. Investors had been worried that the army-backed government might delay general elections. For the week to October 19, the Stock Exchange of Thailand composite index fell 11.19 points or 1.26 percent to close at 875.83. Chai said the Thai market could rise to the 890-point level next week.

Copyright Agence France-Presse, 2007

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