Thai share prices closed 0.87 percent higher on Thursday in line with regional markets amid cautious trading ahead of the US Federal Reserve announcement on interest rates, dealers said. The Stock Exchange of Thailand (SET) composite index rose 6.68 points to 777.68, while the blue chip SET 50 index gained 5.06 points to 551.15.
Gainers led losers 216 to 111 with 129 stocks unchanged on turnover of 3.6 billion shares worth 16.4 billion baht (475 million dollars). The Thai baht was stable against the dollar, closing at 34.53-54 to the unit from Wednesday's 34.53-56. Against the euro, the Thai unit finished at 46.46-53 from 46.40-45.
"The positive factor in our market today is rallies in regional markets following strong expectations that the US interest will be kept unchanged," said Chaiyaporn Nompitakcharoen, an analyst at Bualuang Securities.
"Local factors have been neutral," he added. The Fed, which began a two-day policy-setting meeting Wednesday, is expected to keep its benchmark interest rate steady at 5.25 percent.
An analyst at Ayudhya Securities said the Thai market was also up slightly because economists had predicted that the economy would pick up in the second half as political unrest eased after a coup here last year. Chaiyaporn said that Thursday's rally was led by bluechips, with construction stocks making the largest gains followed by banking stocks.
The kingdom's top lender Bangkok Bank rose 3.00 baht to close at 119, and the third largest lender Kasikorn Bank edged up 1.50 to 74, while Siam Commercial Bank rose 1.50 to 73.50. Siam Cement surged 6.00 to 260, but Thai Airways International lost 0.25 to 43. Airports of Thailand was unchanged at 59 baht.
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