February 4, 2008
BANGKOK - Thai share prices closed barely higher on Monday, marking a five-day winning streak, on the back of robust gains across the region following a rise on Wall Street, dealers said.
But they said buying was modest due to lingering concern over a recession in the US economy.
The Stock Exchange of Thailand (SET) composite index added 0.70 points to 811.56 but the blue-chip SET-50 fell 0.87 points to 587.72.
Gainers led losers 205 to 132, with 110 stocks unchanged on turnover of 4.12 billion shares worth 36.31 billion baht (11 billion dollars).
The Thai baht closed at 32.91-92 against the dollar, little changed from Friday's 32.94-95. Against the euro, the Thai unit was quoted at 48.75-77 from 48.97-49.05.
"The Thai market carried its positive momentum due to gains in the regional and US markets," said Pichai Lertsupongkit, senior vice president at Thanachart Securities.
But gains were modest due to sustained fears over a slowdown in the US economy, Pichai said, adding there was some buying as investors bought stocks to adjust their positions ahead of China's Lunar New Year holiday.
The holiday, China's most important festival of the year by far, begins on February 6 and runs for several days.
Thailand's biggest energy firm PTT lost 10.00 baht to 328.00 and its subsidiary PTT Exploration and Production fell 4.00 to 148.00.
But Thailand's largest lender Bangkok Bank rose 3.00 to 122.00, and the kingdom's biggest mobile phone operator, Advanced Info Service, added 2.00 to 100.00.
Shares in Thai Airways International rose 0.25 to 33.75.
