Thai share prices closed 2.53 percent higher on Friday due to gains in big-cap shares, dealers said. They said investors bought shares as they expected good news from the United States next week with the approval of a massive fiscal rescue package.
The Stock Exchange of Thailand (SET) composite index rose 10.95 points to close at 444.39 while the blue chip SET-50 index gained 9.55 points to 309.27. Gainers outpaced losers 194 to 108 with 103 stocks unchanged on turnover of 2.8 billion shares worth 13.45 billion baht (384.14 million dollars). The Thai baht weakened against the dollar and finished at 35.01-02 baht on Friday from 34.93 baht Thursday.
The unit hardly changed against the euro and closed at 44.83-85 from 44.80-90. "The index rose steeply today due to gains in big-cap shares," said Mayuree Chowvikran, senior vice president at Kim Eng Securities. "Trading was heavy in both volume and value. Investors bought shares today because they speculated on profits next week. They expect the US's 900-billion-dollar economic package to be approved early next week," she added.
Thailand's top energy firm PTT Plc rose 10.00 baht to 165.00 baht while its subsidiary PTT Exploration and Production added 3.00 to 100.00. The country's biggest lender, Bangkok Bank, gained 4.00 to 75.50. Kasikorn Bank rose 1.00 to 45.75 while Siam Commercial Bank advanced 1.50 to 53.50. The kingdom's top telephone operator, Advanced Info Service, added 1.00 to 75.00.