The Thai stock market was up 0.38 percent Tuesday on bargain hunting in property shares, an analyst said. The Stock Exchange of Thailand (SET) composite index rose 2.71 points to close at 714.54, and the blue chip SET-50 index closed up 1.32 points at 506.96.
Gainers overwhelmed losers 240 to 92 with 121 stocks unchanged on turnover of 3.2 billion shares worth 15.8 billion baht (472.6 million dollars). The Thai baht rose against the greenback to close at 33.34-35 baht to one dollar compared to Monday's close of 33.38-40 baht. The unit also strengthened against the euro to finish at 49.72-80 baht to one euro compared to the previous day's close of 50.38-45.
Arparporn Sawaengpak, an analyst at DBS Vickers Securities, said investors sought bargains in property shares as the sector started to release its third quarter earnings. Among major stocks, Banpu lost 4.00 baht to finish at 448.00 baht but mobile phone operator Advanced Info Service added 1.00 baht to 88.50.
Bangkok Bank slipped 0.50 to 115.50 baht, Kasikornbank edged up 0.75 baht to 82.75 and Siam Commercial Bank closed 0.50 baht higher at 82.50. PTT Plc closed 1.00 baht lower at 257.00 and its subsidiary PTT Exploration and Production edged down 0.50 to 155.50 baht. Siam Cement shed 1.00 baht to close at 211.00.