(Adds contractors, banks)
BANGKOK, June 17 (Reuters) - Thailand's benchmark stock
index .SETI was up 0.15 percent at 597.44 at 0519 GMT on
Wednesday, wiping out an earlier 1.28 percent fall, buoyed by
buying of banks and builders.
Investors snapped up shares in the two sectors after
Thailand's lower house of parliament approved the first of two
major fiscal bills authorising the government to borrow 800
billion baht ($23.4 billion) to finance stimulus spending and
fiscal deficits. [nBKK457132]
Stocks on the move included:
CONTRACTORS UP ON HOPES OF MASS TRANSIT PROJECT
Shares in top contractor Italian-Thai Developemnt ITD.BK
rose 2.55 percent to 3.22 baht, second-ranked CH Karnchang
(CK.BK) climbed 1.55 percent to 3.94 baht and Sino-Thai
Engineering STEC.BK edged 0.48 percent higher.
The builders were supported by the prospect of bidding for
contracts on the mass transit "Purple Line" beginning by the
end of June, brokers said.
0451 GMT
BANKS .SETB REBOUND ON GOVT SPENDING PLANS
The major banks bounced back from a two-day losing streak
as investors turned positive on the lending outlook after the
government's borrowing plans won parliamentary backing, dealers
said.
Top lender Bangkok Bank (BBL.BK) edged up 0.48 percent,
number three Siam Commercial Bank (SCB.BK) rose 1.73 percent
and fourth-ranked Kasikornbank KBAN.BK gained 0.75 percent.
0508 GMT
BANGKOK EXPRESSWAY BECL.BK, MBK MBK.BK RISE
Shares in tollway operator Bangkok Expressway rose 1.89
percent to 16.20 baht, while MBK, a property developer, climbed
nearly 2 percent after the stock exchange said it would include
them in the SET50 index .SET50 from July 1.
The firms in the SET50 index must be among the top 50
securities in terms of average daily capitalisation over the
previous 12 months. Other criteria include having a free float
of no less than 20 percent.
0328 GMT
LAND & HOUSES LH.BK DOWN ON DOWNGRADE
Thailand's top home builder fell nearly 3.0 percent to a
two-week low of 5.00 baht after Citi Investment Research gave a
sell recommendation, saying the stock was fully valued after
its recent strong performance. [nBKK464919]
0313 GMT
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- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=34.11 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
