Thai share prices closed 0.13 percent higher on Friday, led by gains in energy stocks as world oil prices rose past 92 dollars per barrel to a new record on tension in the Middle East, dealers said. But they said buying sentiment fizzled out in the afternoon session.
The Stock Exchange of Thailand (SET) composite index rose 1.12 points to 894.57 and the blue chip SET-50 index added 1.61 points to 662.91. Losers outnumbered gainers 220 to 116, with 108 stocks unchanged on turnover of 1.95 billion shares worth 33.2 billion baht (974 million dollars).
The Thai baht closed at 34.11-12 to the dollar, little changed from Thursday's 34.13-15. Against the euro, the Thai currency was quoted at 48.96-49.02 from 48.73-78. "Foreign investors snapped up gains in energy and oil stocks in line with high oil prices," said Sukit Udomsirikul, a senior market analyst at Siam City Securities.
World oil prices rose past 92 dollars per barrel in Asian trade on Friday to a new record on rising tension in the oil-rich Middle East and new US sanctions against Iran, Opec's number-two exporter, dealers said. Energy shares alone account for nearly 30 percent of the Thai stock market.
Despite sharp gains in the energy sector, overall buying sentiment was modest as investors found few new incentives in the market, Sukit said. Top energy firm PTT jumped 14.00 baht to 408.00, while its subsidiary PTT Exploration and Production was unchanged at 169.00.
Thai Oil rose 1.00 to 92.00. The nation's top lender Bangkok Bank was unchanged at 121.00. Thai Airways International fell 0.50 to 40.75, and Thailand's biggest mobile phone operator, Advanced Info Service, was flat at 92.00.
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