February 12, 2008
BANGKOK (AFP) - Thai share prices closed 1.66 percent higher on Tuesday as investors chased gains in banking and energy-linked stocks, dealers said.
They said some investors stayed on the sidelines, awaiting the outcome of a meeting between new Finance Minister Surapong Suebwonglee and Central Bank Governor Tarisa Watanagase.
The two were discussing economic measures including whether to consider lifting currency controls, which were imposed by the previous military government in a bid to halt the baht's rapid rise against the dollar.
The Stock Exchange of Thailand (SET) composite index rose 13.34 points to 817.49 and the blue-chip SET-50 added 10.29 points to 589.33.
Gainers outnumbered losers 258 to 79, with 106 stocks unchanged on turnover of 3.6 billion shares worth 25.5 billion baht (777 million dollars).
The Thai baht closed at 32.88-89 to the dollar, little moved from Monday's 32.92-93. Against the euro, the Thai unit was quoted at 47.67-72 from 47.88-93.
"The market held firm on buying of blue-chip stocks such as banking and energy shares," said Chai Chirasevenupraphand, a market strategist at Capital Nomura Securities.
Overall gains across the region also helped lift sentiment, Chai said.
But some investors took a wait-and-see stance on the meeting between Surapong and Tarisa over the fate of the stringent currency rules, the analyst said.
Thailand's biggest energy firm PTT rose 8.00 baht to 324.00 and its subsidiary PTT Exploration and Production gained 3.00 to 148.00.
Thailand's largest lender Bangkok Bank added 2.00 to 124.00. The kingdom's biggest mobile phone operator, Advanced Info Service, was also up 1.00 at 98.50.
Shares in Thai Airways International were unchanged at 34.00.
