Thai share prices closed 1.97 percent higher on Friday as investors chased gains in energy-linked stocks in line with rising world oil prices, dealers said. They said the market rose on steady buying of banking shares. The Stock Exchange of Thailand (SET) composite index jumped 16.08 points to 831.51 and the blue chip SET-50 index gained 14.35 points to 604.70.
Gainers led losers 220 to 98 with 122 stocks unchanged, on turnover of 2.6 billion shares worth 25.5 billion baht (744 million dollars). The Thai baht moved little against the dollar, closing at 34.22-24. Against the euro, the Thai unit was quoted at 48.13-18 from Thursday's 48.00-10.
"The market rose mainly on strong gains in energy-related shares," said Chai Chirasevenupraphand, a market strategist at Capital Nomura Securities. Energy shares alone account for nearly 30 percent of the Thai stock market.
Investors bought into energy stocks as global oil prices hit a record 84.10 dollars per barrel Thursday on fears a storm could threaten energy facilities in the Gulf of Mexico, Chai said.
Thailand's top energy firm PTT jumped 12.00 baht to 332.00, while its subsidiary PTT Exploration and Production rose 2.00 to 135.00. The nation's top lender Bangkok Bank added 2.00 to 117.00. Thai Airways International edged up 0.75 to 41.75, while the kingdom's largest mobile phone operator Advanced Info Service gained 1.50 to 87.00.