The Thai stock market rose 1.29 percent on Tuesday boosted by gains in Wall Street and key regional markets, an analyst said. The Stock Exchange of Thailand (SET) composite index gained 9.23 points to close at 724.40, and the blue chip SET-50 index added 7.74 points to 511.45.
Gainers led losers 182 to 117 and 146 stocks were unchanged with turnover of 1.9 billion shares worth 13.2 billion baht (396.3 million dollars). The Thai baht fell slightly against the dollar to 33.25-26 baht to one dollar compared to Monday's close of 33.23-24.
The unit also lost against the euro, finishing at 47.57-63 baht to one euro compared to the previous day's close at 47.53-60. Arparporn Sawaengpak, an analyst from DBS Vickers Securities, said the market was boosted by gains on Wall Street and in Japan, coupled with domestic factors.
One reason was that the Thai cabinet agreed on Tuesday that 19 of 65 projects still suspended in an eastern industrial estate would be allowed to make court appeals to resume work, saying they were not linked to environment concerns. "Investors also speculatively bought some shares such as PTT on hopes that the court will allow those projects," she said.
PTT and Siam Cement both have projects suspended at the estate. PTT Plc rose 5.00 baht to 234.00 and its subsidiary PTT Exploration and Production gained 2.00 baht to end at 143.00, while Siam Cement was up 7.00 baht to 232.00. Coal producer Banpu added 2.00 baht to close at 580.00.