Thai share prices closed 1.42 percent higher on Monday as foreign funds continued flowing into the region, pushing the market to a fresh 10-year high, dealers said. They said sentiment was upbeat on encouraging US economic data, while investors bought local big-cap energy stocks as global oil prices rose.
The Stock Exchange of Thailand (SET) composite index added 11.81 points to 844.19 points and the blue chip SET 50 gained 9.23 points to 604.82. Gainers led losers 246 to 122 with 100 stocks unchanged on volume of 6.9 billion shares worth 40 billion baht (1.18 billion dollars).
The Thai baht rose further against the dollar to close at 33.82-84 compared to Friday's 34.01-02. It was at 46.10-30 to the euro after 46.22-27. Dealers said stocks continued firmer following a jump of more than seven percent last week, when the Thai index reached its highest level since the 1997 Asian financial crisis.
"Investors continued buying stocks across Asia. Thailand is a part of the regional gains as funds flow into the region," said Kavee Chukitkasem, assistant managing director of Kasikorn Securities.
"The latest US economic data on employment on Friday was encouraging, relieving worries over the US economic slowdown," he added. US stocks rose Friday after a report showed solid job growth last month. Kavee said buying of big-cap stocks boosted local trading. Energy-linked shares, which account for almost 30 percent of the local bourse, rose on strong earnings prospects in the second quarter.
Thailand's top energy firm PTT added 2.00 baht to 296.00 and unit PTT Exploration and Production jumped 6.00 to 125.00. The top lender Bangkok Bank rose 2.00 to 130.00. Thai Airways International closed flat at 44.00. The largest mobile phone operator Advanced Info Service rose 1.50 to 91.00.