BANGKOK: Thai shares hit a more than two-week high on Thursday as PTT rallied on positive earnings prospects after the government raised the wholesale price of liquefied petroleum gas (LPG), while other Southeast Asian markets rose in line with broader Asia.
Asian stocks rose on Thursday after upbeat U.S. employment
data and a halt to a slide in oil tempered investor risk
aversion.
The Thai SET index rose 1.4 percent to 1,521.62, its
highest close since Dec. 24, extending Wednesday's climb amid
bargain-hunting in battered banks.
PTT, the most actively-traded stock by turnover on Thursday,
closed up 1.8 percent at its highest in nearly three weeks.
The LPG price, which will be raised to $488 a tonne, boded
well for PTT which has shouldered losses from fuel subsidies
given the energy giant has had to import LPG at global prices
and sell them at the government-fixed price of $333 per tonne
since 2008.
Malaysia's index ended six sessions of losses as the
ringgit pulled off 5-1/2-year lows due to pressure over
the past few weeks from concerns about the impact of tumbling
oil prices on Malaysia's trade and fiscal balances.
Among the outperformers, Singapore's key index
ended the day up 1.4 percent at 3,345.11, a shy of its day's
high, while the Philippines rose for a ninth session to
its highest close since May 22.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3345.11 3298.36 +1.42
Kuala Lumpur 1728.06 1709.18 +1.10
Bangkok 1521.62 1500.75 +1.39
Jakarta 5211.83 5207.12 +0.09
Manila 7367.63 7309.70 +0.79
Ho Chi Minh 553.47 552.05 +0.26
Change on year
Market Current End 2014 Pct Move
Singapore 3345.11 3365.15 -0.60
Kuala Lumpur 1728.06 1761.25 -1.88
Bangkok 1521.62 1497.67 +1.60
Jakarta 5211.83 5226.95 -0.29
Manila 7367.63 7230.57 +1.90
Ho Chi Minh 553.47 545.63 +1.44
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