March 27, 2008
BANGKOK - Thai share prices closed 0.66 percent higher on Thursday as investors chased gains in blue chips, in banking and energy stocks, dealers said.
But they said market sentiment remained clouded by fears over a recession in the United States.
The Stock Exchange of Thailand (SET) composite index rose 5.39 points to 822.96 and the blue-chip SET-50 gained 3.92 points to 592.35.
Gainers far led losers 243 to 87 with 119 stocks unchanged on turnover of 3.10 billion shares worth 16.40 billion baht (522.34 million dollars).
The baht continued to trade at 10-year highs against the dollar, closing at 31.38-40 from Wednesday's 31.41-43. Against the euro, the Thai unit was quoted at 49.48-52 from 49.32-40.
"The market rose as investors chased gains as the first quarter is about to end," said Ronnakrit Sarinwong, executive vice president at Adkinson Securities.
Ronnakrit said however, investors remained worried that a US recession could slow down the global economy.
"Trading was moderate today, led by banking and energy shares," he said.
Share prices rose in nearly every sector across the board.
Thailand's biggest energy firm PTT rose 4.00 baht to 320.00 while its subsidiary PTT Exploration and Production edged up 1.00 to 154.00. Major energy firm Banpu also surged 16.00 to 424.00.
The kingdom's largest lender Bangkok Bank rose 3.00 to 138.00.
Thai Airways International was unchanged at 28.75, while Thailand's biggest mobile phone operator, Advanced Info Service, was unchanged at 100.00.
