Thai share prices closed 1.27 percent higher on Friday, led by robust regional markets, as investors chased gains in the banking and energy sectors, dealers said. But they said trading volume was low amid worries over political tensions as ousted and exiled premier Thaksin Shinawatra was set to deliver a live video address from London at an anti-junta rally later in the day.
The Stock Exchange of Thailand (SET) composite index rose 9.32 points to 744.25, while the blue chip SET 50 index added 7.63 points to 527.43. Gainers outnumbered losers 247 to 86, with 116 stocks unchanged on turnover of 2.63 billion shares worth 15.7 billion baht (453 million dollars).
The Thai baht was unchanged from Thursday, closing at 34.65-66 to the dollar. Against the euro, the Thai currency finished at 46.10-15 from 46.07-11. "The market followed a regional trend, and investors bought back energy and banking-related shares following recent losses," said Sukhbir Khanijoh, a senior market analyst at Kasikorn Securities.
But Sukhbir said trading volume remained thin as foreign investors traded with caution amid fears that daily protests against the country's junta could turn violent. "The market continued to face pressure due to political tensions," Sukhbir said. Thaksin, who was ousted by the military in September 2006, was expected to speak to his supporters at an anti-coup rally in central Bangkok on Friday.
The opposition movement has spooked the military, which has held almost daily meetings to discuss how to handle the situation. Thailand's top energy firm PTT gained 8.00 baht to 260.00 and its unit PTT Exploration and Production rose 2.00 to 105.00.
The kingdom's top lender Bangkok Bank added 1.00 to 114.00 and the third largest lender Kasikorn Bank also rose 1.00 to 68.50. Thai Airways International edged up 0.25 to 42.50. Thailand's largest mobile phone operator, Advanced Info Service (AIS), rose 0.50 to 83.00.