March 12, 2008
BANGKOK (AFP) - Thai share prices closed 0.87 percent higher on Wednesday as investors cheered international moves to pump cash into financial markets in a bid to ease a global credit squeeze, dealers said.
They said sentiment was upbeat as investors bought shares in line with rising benchmarks across Asia.
The Stock Exchange of Thailand (SET) composite index rose 7.17 points to 827.00 and the blue-chip SET-50 added 5.61 points to 598.63.
Gainers led losers 171 to 149, with 134 stocks unchanged on turnover of 3.56 billion shares worth 20.74 billion baht (657.04 million dollars).
The Thai baht closed at 31.56-57 against the dollar, unchanged from Tuesday. Against the euro, the Thai unit was quoted at 48.52-57 from 48.60-65.
"The market rose as investors were happy with news that the Fed and other central banks were helping financial markets," said Pongrat Ratanatavanananda, vice president at Bua Luang Securities.
The US and other central banks agreed to a huge cash injection into ailing financial markets aimed at easing the credit crunch, lifting Wall Street and Asian shares.
Thailand's biggest energy firm PTT rose 8.00 baht to 338.00 while its subsidiary PTT Exploration and Production gained 2.00 to 160.00.
But major energy firm Banpu fell 4.00 to 440.00, and the kingdom's largest lender Bangkok Bank was unchanged at 128.00.
Thailand's largest mobile phone operator, Advanced Info Service, rose 1.00 at 100.00.
Shares in Thai Airways International remained unchanged at 28.25.
