March 14, 2008
BANGKOK (AFP) - Thai share prices closed up 0.46 percent Friday on gains in energy stocks as global oil prices hovered near record levels after hitting an all-time high, dealers said.
But they said buying was limited as investors continued to worry over a possible recession in the economy of the United States, Thailand's largest trading partner.
The Stock Exchange of Thailand (SET) composite index rose 3.73 points to 818.04 and the blue-chip SET-50 added 2.80 points to 591.03.
Gainers led losers 199 to 115, with 126 stocks unchanged on turnover of 3.08 billion shares worth 11.6 billion baht (368.3 million dollars).
The baht closed at a fresh 10-year-high of 31.40-42 against the dollar, slightly up from Thursday's 31.45-46. Against the euro, the Thai unit was quoted at 48.89-95 from 49.03-08.
"The market was mainly supported by gains in energy-related stocks as oil prices remained so high," said Thanomsak Saharatchai, a senior market analyst at Capital Nomura Securities.
Energy shares account for nearly 30 percent of the Thai bourse.
Thanomsak said buying fizzled at the end of trading due to sustained fears over a US recession.
Thailand's biggest energy firm PTT rose 2.00 baht to 334.00 and its subsidiary PTT Exploration and Production added 2.00 to 158.00.
Major energy firm Banpu was unchanged at 432.00.
The kingdom's largest lender Bangkok Bank gained 3.00 to 128.00, while the biggest mobile phone operator, Advanced Info Service, edged up 0.50 to 97.50.
Shares in Thai Airways International were flat at 29.00.
