April 28, 2008
BANGKOK (AFP) - Thai share prices closed 0.51 percent higher on Monday as foreign investors purchased big cap shares on expectations of positive earnings reports from energy firms next month, dealers said.
They said the possibility that the US Federal Reserve would cut interest rates also spurred the Thai bourse.
The Stock Exchange of Thailand (SET) composite index rose 4.23 points to 836.42 while the blue-chip SET 50 index gained 4.41 points to 602.74.
Losers led gainers 180 to 147, while 132 stocks were unchanged with sluggish trade of 3.53 billion shares worth 15.11 billion baht (476.65 million dollars).
The Thai baht weakened slightly against the dollar, finishing at 31.70-73 from Friday's 31.69-70. Against the euro, the Thai unit closed at 49.65-75 from 49.42-47.
Far East Securities analyst Veerachai Krongsamsri said the Thai bourse closed up in line with regional markets.
"Energy firms raised the market as investors expect good earnings reports," he said. Firms are due to release the reports in early May.
"The other factor was the prospect of the US Federal Bank cutting its benchmark rate," Veerachai added.
Thailand's biggest energy firm PTT jumped 8.00 baht to 340.00 while its subsidiary PTT Exploration and Production rose 5.00 at 172.00.
The kingdom's largest lender Bangkok Bank gained 2.00 to 136.00 while Siam Commercial Bank fell 0.50 to 88.00.
Thai Airways slipped 0.25 baht to 27.50.
