January 8, 2008
BANGKOK (AFP) - Thai share prices closed 0.42 percent higher on Tuesday as energy and banking stocks rose, dealers said.
But they said buying was modest due to political uncertainty at home over the formation of a new government.
The Stock Exchange of Thailand (SET) composite index rose 3.38 points to 811.69, while the blue-chip SET-50 index added 3.45 points to 589.82.
Losers led gainers 173 to 128, with 116 stocks unchanged on turnover of 1.7 billion shares worth 15.63 billion baht (469 million dollars).
The Thai baht closed at 33.29-30 to the dollar from Monday's 33.34-37. Against the euro, the Thai unit was quoted at 48.94-48.99 from 48.95-49.07.
"The market rebounded like other regional markets following a rise on Wall Street, but it was mainly technical rebound," said Mayuree Chowvikran, vice president of Siam City Securities.
Mayuree said buying was modest throughout the day due to political uncertainty over the shape of a new government following December polls, the first election since last year's coup.
Allies of deposed premier Thaksin Shinawatra emerged from the polls just shy of a majority in parliament, but the military-appointed Election Commission has opened dozens of vote fraud investigations that threaten their ability to form a new government.
Thailand's biggest energy firm PTT rose 2.00 baht to 336.00, and its subsidiary PTT Exploration and Production was unchanged at 152.00. Energy firm Banpu jumped 18.00 to 374.
The kingdom's top lender Bangkok Bank was flat at 112.00.
Thai Airways International slipped 1.25 to 34.25, while Thailand's biggest mobile phone operator, Advanced Info Service, rose 2.50 to 98.00.
