Thai share prices rose 0.93 percent on Friday, gaining from a technical rebound but still under-performing compared with other regional markets, analysts said. The Stock Exchange of Thailand (SET) composite index gained 3.66 points to close at 397.51 points, and the blue chip SET-50 index was up 3.31 points to 274.51.
Gainers outnumbered losers 161 to 125 and 110 stocks were unchanged amid light trading with 3.1 billion shares worth 11.3 billion baht (320.75 million dollars) changing hands. The Thai unit fell further against the dollar to close at a 21-month low on Friday at 35.21-23 baht to the dollar compared to the previous day's close of 35.13-14.
But it hovered against the euro at 44.07-27 compared to Thursday's close of 44.04-12. "Today's gains are not significant. It's in line with the region's markets, although our market still underperformed compared with others despite a technical rebound when some stocks dropped to their lowest levels," said Mayuree Chowikran, head of research at Kim Eng Securities.
"Investors are still concerned about the protest this weekend so they prefer to hold on to their cash," she said. Anti-government protesters have vowed to stage a massive rally on Sunday after laying siege to government offices since August and staging demonstrations since May that have occasionally turned violent.
Among the blue chips PTT shed 1.00 baht to close at 141.00, and PTT Exploration and Production edged down 0.50 baht to 84.00. Banpu rose 3.00 baht to 170.00, and Bangkok Bank added 1.00 baht to 65.50. Advanced Info Service jumped 6.50 baht to 79.50 baht.