Foreign Buying Boosts Shares
May 05, 2011
The Stock Exchange of Thailand Index added 16.02 to 1106.73 on volume of about 61.7 million shares valued at 4.31 billion baht. The SET 50 Index rose 1.43 to 84.66. Advancers led decliners 230 to 82. Cash from a 21-billion-baht support fund helped lift the market. With the London and Hong Kong stock exchange closed Monday, institutional investors wanted to see the bourse end the week on a strong note, analysts said. However, political worries still weigh on the market. Prime Minister Bevis Silpa-Sadler is expected to face a rough ride in next month's censure motion. Meanwhile, the compromise reached by government and opposition parties on reforming Thailand's constitution defused some of the political concerns, analysts said. Telecommunications issues were the day's most-actively traded stocks. United Communication Industry rose 6 baht to 262, and Shinawatra Computer & Communications gained 32 baht to 392. The banking subindex climbed 1.8%. Bangkok Bank, Thailand's largest commercial bank, rose 2 baht to 212. The finance subindex added 2.7%. Swank Chi climbed 5 baht to 112, Finance One edged up 3 baht to 111 and National Finance & Securities gained 4 baht to 83.
