SET up 5.56 points to 1,556.97

SET up 5.56 points to 1,556.97

Thai stocks gained 0.3% on Friday in line with gains across Asia on optimism about the US economic recovery.

The Stock Exchange of Thailand Index rose 5.46 points from Thursday to close at 1,556.97, an increase of 0.6% from the previous Friday's close. Turnover was 45.96 billion baht, with 13.84 billion shares traded.

The local market is up 19.9% from the end of 2013.

Foreign investors were net buyers on Friday of 662.47 million baht worth of Thai shares, bringing their net buying for the month to 2.26 billion. For the year to date they are net sellers of 24.99 billion baht.

Local institutions were net buyers of 332.2 million baht, brokers were net sellers of 68.4 million and individual investors were net sellers of 926.3 million baht.

Asian stock markets pushed higher on Friday after a record day on Wall Street powered by upbeat data that added to evidence the US economy is gaining strength. European shares were flat as investors awaited comments from the US and European central bank chiefs that might shed light on the timing of US interest rate increases.

Germany's DAX and Britain's FTSE 100 were flat in early trade while France's CAC 40 was down 0.2%. US stocks were poised for slight gains after Thursday's new highs, with Dow and S&P 500 futures both up 0.1%.

Attention is now focused on Jackson Hole, Wyoming, where US Federal Reserve Chair Janet Yellen and ECB President Mario Draghi will be addressing an annual retreat of economists and financial market heavyweights.

In Asian trade, Japan's benchmark Nikkei 225 erased morning gains to close 0.3% lower at 15,539.19 as the yen strengthened. South Korea's Kospi added 0.6% to 2,056.70. Hong Kong's Hang Seng advanced 0.5% to 25,112.23 and the Shanghai Composite gained 0.5% to 2,240.81. Australia's S&P/ASX 200 edged up 0.1% to 5,645.60. Benchmarks in Taiwan, Singapore, the Philippines and New Zealand also advanced.

In Bangkok, the SET50 index of blue chips ended at 1,043.55 points, up 2.75, on turnover of 25.34 billion baht, and the SET100 rose 6.59 points to 2,308.42 in trade worth 32.89 billion. The SETHD index of high-dividend shares rose 1.15 points to 1,244.78, with turnover of 9.41 billion baht. The Market for Alternative Investment gained 5.74 points to 621.04, with transaction value of 3.58 billion baht.

In the currency markets, the baht rose marginally on Friday but was off 0.2% from the week before. It was trading at 31.95/96 to the dollar, compared with 31.97/99 on Thursday and 31.84/85 a week earlier.

In the debt market, 10-year government bonds fell the most in two months as the odds for an interest-rate cut faded following data showing that the economy avoided slipping into recession.

Gross domestic product increased 0.4% from a year earlier in the second quarter, after contracting a revised 0.5% in the previous three months, the National Economic & Social Development Board reported last Monday.

The NESDB is now forecasting expansion of 1.5% to 2% in 2014, with a steady recovery expected for the rest of the year as the new interim government begins disbursing the 2015 budget.

The yield on the 3.625% notes due in June 2023 rose six basis points this week to 3.51%.

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Change

Baht

%

AOT

228.00

7.00

3.17

TMB

3.04

0.02

0.66

TRUE

10.80

0.30

2.86

KTB

23.60

0.30

1.29

JAS

6.75

0.05

0.75

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