STOCKS NEWS THAILAND-Brokerage shares rally on rising market trading

Mon Mar 25, 2013 5:28am EDT

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Shares of Thai brokerages jumped 4.9 percent on expectations of strong first-quarter earnings boosted by high brokerage income, traders said.

Among outperformers, shares of Maybank Kim Eng Securities (Thailand) Pcl surged 7.1 percent to 21.2 baht while Asia Plus Securities Pcl jumped 9.7 percent to 3.86 baht.

Broker Trinity Securities gave an 'overweight' rating for the brokerage sector, saying strong market turnover would boost brokerage income in the January-March quarter.

Turnover at Thai stock market hit a 38-year high of 100 billion baht ($3.41 billion) on Friday, when programme selling by brokers sent the broader SET index 3.3 percent lower to a near two-month low of 1,478.97.

1613 (0913 GMT)

($1 = 29.305 baht) (Reporting by Viparat Jantraprap in Bangkok; Editing by Jijo Jacob)

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