Thai share prices closed 0.92 percent higher on Friday in line with new peaks on Wall Street and rising regional markets, dealers said. They said the market was also supported by buying of energy-linked shares as global oil prices traded firm in Asian trade.
The Stock Exchange of Thailand (SET) composite index rose 6.53 points to 716.44 while the blue chip SET 50 index increased 5.81 points to 506.54. Gainers led losers 182 to 152, with 141 stocks unchanged on turnover of 2.7 billion shares worth 19.4 billion baht (560 million dollars).
The Thai baht closed flat at 34.75-77 to the dollar, but still traded at nine-year highs against the greenback. Against the euro, the Thai currency finished at 47.11-16 from Thursday's 47.20-35.
"Investors remained bullish due to the strong US and Asian markets," said Chai Chirasevenupraphand, a market strategist at Capital Nomura Securities. Foreign investors were net buyers on Friday as they bought energy-linked shares in line with steady global oil prices, which remained above the 63-dollar a barrel in Asian trade.
While Thailand's top oil exploration firm, PTT Exploration and Production, on Friday announced a drop in net profit in the first quarter, demand for oil-related stocks was high as investors expected stronger profits in the energy sector in the second quarter, Chai said.
Thailand's top energy firm PTT rose 6.00 baht to close at 236.00, while unit PTT Exploration and Production added 0.50 to 94.00. Thai Oil was flat at 65.50. The nation's top lender Bangkok Bank was also unchanged at 112.00. Thai Airways International rose 1.00 to 47.00.