March 25, 2008
BANGKOK - Thai share prices closed 1.61 percent higher on Tuesday, boosted by a strong showing on Wall Street overnight and by the return of foreign investors following the Easter holiday, dealers said.
They said the Thai bourse rose in line with markets around the region, which took heart from better than expected US housing data and JP Morgan's improved bid for troubled bank Bear Stearns.
The Stock Exchange of Thailand (SET) composite index gained 13.03 points to 820.31 and the blue-chip SET-50 rose 10.40 points to 591.03, according to AFP.
Gainers far led losers 247 to 86 with 118 stocks unchanged on turnover of 3.28 billion shares worth 24.30 billion baht (770.22 million dollars).
The baht stayed at a 10-year-high of 31.53-55 against the dollar, barely moving from Monday's 31.53-54. Against the euro, the Thai unit was quoted weaker at 48.97-49.06 from 48.50-55.
"The market rose due to positive sentiment about the recent news on the US market and the return of major investors after the Easter holiday," said Pongrat Ratanavanananda, vice president at Bua Luang Securities.
Thai share prices rose in nearly every sector, she said, with trading especially thick in the banking and energy sectors.
Thailand's biggest energy firm PTT surged 10.00 baht to 322.00 while its subsidiary PTT Exploration and Production rose 3.00 to 154.00. Major energy firm Banpu also surged 16.00 to 408.00.
The kingdom's largest lender Bangkok Bank gained 3.00 to 136.00.
Thai Airways International edged up 0.25 to 28.75, but Thailand's biggest mobile phone operator, Advanced Info Service, slipped 0.50 to 99.00.
