Thai share prices closed 0.37 percent higher on Tuesday in thin trading volumes as investors awaited a decision on interest rates by the US Federal Reserve, dealers said. They said investors shored up the Thai bourse by buying heavy-weight energy stocks, even as several regional markets slipped due to weak sentiment on Wall Street.
The Stock Exchange of Thailand (SET) composite index gained 2.85 points to 766.97, while the blue chip SET 50 index added 2.13 points to 543.34. Gainers led losers 195 to 117 with 143 stocks unchanged on turnover of 1.9 billion shares worth 10.9 billion baht (316 million dollars).
The Thai baht held firm to the dollar, closing at 34.53-54 to the unit. Against the euro, the Thai unit finished at 46.25-75 from 46.48-54. Mayuree Chaovikran, a senior market analyst at Siam city Securities, said the Thai market moved sideways as daily protests against the nation's military leaders appear to be slowing down.
Allies of deposed premier Thaksin Shinawatra have organised nightly protests to demand resignation of the junta. The rallies so far have been largely peaceful. "Local political concerns are easing as the government has kept the protests under control," Mayuree said.
"Investors are waiting for the Fed statement on a possible interest rate hike," she added. She said investors opted for energy-related stocks which soared as global oil prices reached 70 dollars a barrel, she said. Thailand's top energy firm PTT rose 2.00 baht to 268.00 baht and its unit PTT Exploration and Production gained 1.00 to 109.00.
The kingdom's top lender Bangkok Bank closed flat at 116.00 and the third largest lender Kasikorn Bank was also unchanged at 71.00. Thai Airways International held firm at 43.50. Thailand's largest mobile phone operator, Advanced Info Service (AIS) was flat at 85.00.
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