Thai stocks gained 0.87 percent Monday due to Abu Dhabi's 10 billion dollar bailout for troubled Dubai and recent positive economic data in the United States, an analyst said. The Stock Exchange of Thailand (SET) composite index added 6.10 points to close at 709.74, and the blue chip SET-50 index was up 4.40 points at 498.84.
Gainers outnumbered losers 203 to 97 and 145 stocks were unchanged with turnover of 2.0 billion shares worth 17.3 billion baht (520.7 million dollars). The Thai baht fell slightly against the dollar to close at 33.13-14 baht to one dollar compared to Friday's close of 33.11-12.
But the Thai unit rose against the euro to close at 48.57-64 compared to the previous day's close of 48.83-88. "The market rebounded on positve news from Dubai after Abu Dhabi injected 10 billion dollars," said Kavee Chukitkasem, an analyst at Kasikorn Securities. He said the market was also boosted by positive US economic data released last week.
Among major shares, Banpu rose 8.00 baht to close at 550.00 baht, PTT Plc gained 3.00 baht to 225.00 and PTT Exploration and Production was up 1.50 baht to 136.50. Bangkok Bank added 1.00 to 112.50 baht, Kasikornbank and Siam Commercial Bank both edged up 0.25 to close at 84.25 baht and 86.00 baht respectively. Siam Cement rose 4.00 to 224.00 baht.