Thai share prices closed 1.18 percent higher on Wednesday as foreign investors chased gains in communication and energy linked stocks on bargain hunting, dealers said. They said sentiment was upbeat due to a regional gain, which followed a new record high on Wall Street Tuesday.
The Stock Exchange of Thailand (SET) composite index rose 8.39 points to 721.66 while the blue chip SET 50 index gained 7.51 points to 510.71. Gainers led losers 205 to 154, with 111 stocks unchanged on turnover of 2.5 billion shares worth 16.2 billion baht (469 million dollars).
The Thai baht moved little against the dollar, closing at a nine-year high of 34.56-58 from Tuesday's 34.52-55. Against the euro, the Thai unit finished at 46.97-47.02 from 46-65-81.
"The market was supported by bargain hunting as foreign and domestic investors bought communication and big cap energy shares," said Chai Chirasevenupraphand, a market strategist at Capital Nomura Securities. Sentiment was also positive in line with a regional gain and a new record on Wall Street on Tuesday, Chai said.
Thailand's top energy firm PTT rose 4.00 baht to 232.00, while its unit PTT Exploration and Production gained 5.00 to 97.00. The nation's top lender Bangkok Bank added 1.00 to 111.00, but the third largest lender Kasikorn Bank was unchanged at 65.50. Thai Airways International edged up 0.50 to 47.25. Thailand's largest mobile phone operator, Advanced Info Service, gained 2.00 to 93.00.