Thai share prices closed 0.29 percent higher on Monday as investors downplayed rising tensions between anti-coup protesters and the military-backed government, dealers said. They said foreign investors were waiting for more US economic data set to be released this week amid worries over higher US interest rates.
The Stock Exchange of Thailand (SET) composite index rose 2.15 points to 754.15, while the blue chip SET 50 index gained 2.78 points to 534.95. Losers outnumbered gainers 240 to 115, with 105 stocks unchanged on turnover of 2.3 billion shares worth 15 billion baht (432 million dollars).
The Thai baht fell to the greenback on stronger dollar, closing at 34.64-65 from Friday's 34.59-60. Against the euro, the Thai currency finished at 41.21-26 from 46.20-25. More than 10,000 Thais demonstrated in Bangkok on Saturday to demand an end to the country's army-backed government with many calling for a return of deposed premier Thaksin Shinawatra.
Police had banned protesters from marching outside a central Bangkok plaza, but the crowd defied the ban and walked to the army headquarters some three kilometres (about two miles) away. But analysts said the daily protests have had a limited effect on stock trading.
"Even though the crowd is getting bigger, investors have just kept an eye on the protest. A significant impact is unlikely unless violence happens," said Thanomsak Saharatchai, head of research at Capital Nomura Securities. "Meanwhile, investors have taken a wait-and-see stance ahead of the release of US economic data this week, on worries of a possible US interest rate hike." Thailand's top energy firm PTT lost 2.00 baht to 262.00 while its unit PTT Exploration and Production added 1.00 to 106.00.
The kingdom's top lender Bangkok Bank was flat at 115.00 and the third largest lender Kasikorn Bank edged up 0.50 to 70.00. Thai Airways International closed unchanged at 44.25. Thailand's largest mobile phone operator, Advanced Info Service, gained 2.50 to 89.50.