Thai share prices closed 1.06 percent higher on Wednesday as they rebounded following losses in the previous session amid political demonstrations in Bangkok, dealers said. They said investors seemed confident the government had adopted a clear approach to the mass rally occupying Government House, issuing arrest warrants for protest leaders.
The Stock Exchange of Thailand (SET) composite index rose 7.07 points to close at 675.99 points, while the blue chip SET-50 index gained 5.55 points to close at 478.03 points. Gainers overwhelmed losers 248 to 72 with 87 stocks unchanged on turnover of 1.79 billion shares worth 9.21 billion baht (270.90 million US). The Thai baht strengthened against the dollar, finishing at 34.04-06 baht from Tuesday's 34.21-24 baht. But the unit weakened against the euro, closing at 50.10-15 baht from 49.86-90 baht.
Pongrat Ratanatavananonda, vice president at Bua Luang Securities, said the market rebounded from Tuesday's loss as the government signalled a clear direction in the ongoing political crisis. A Thai court on Wednesday issued arrest warrants on charges of treason for five leaders of the anti-government group, the People's Alliance for Democracy (PAD), who have led thousands of demonstrators besieging government buildings.
"It is clear for investors how the government will deal with the anti-government rally," Pongrat told AFP. Thailand's top energy firm PTT closed unchanged at 258.00 baht, while its subsidiary PTT Exploration and Production was up 4.00 baht to 147.00. Banpu, the country's largest coal miner, gained 2.00 to 384.00. The kingdom's biggest lender Bangkok Bank edged up 1.00 to close at 115.00. Kasikornbank and Siam Commercial Bank both closed 2.00 baht up to finish at 71.00 and 78.00 respectively. Thai Airways edged down 0.20 to 15.20 but Thailand's biggest telephone operator Advance Info Service added 1.00 baht to close at 88.50.
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