BANGKOK May 28 Thai stocks climbed on Wednesday
as consumer-related shares rallied amid optimism among local
investors about the economy as the military government moved to
restart public spending and make delayed subsidy payments to
The economic outlook is more bullish for the second half of
the year after the army seized control of the government last
week, some brokers said. That came after almost seven months of
political turmoil during which the economy slumped.
Details of economic policies, including the state budget,
are expected next week.
The SET index rose 1.2 percent to 1,408.73, the
highest since May 22, when the military seized power after the
market had closed. The benchmark notched up a 0.3 percent gain
on Tuesday, ending two sessions of losses after the coup.
Foreign investors have been net sellers of Thai stocks since
the imposition of martial law on May 20 followed by the coup two
days later. Local investors and institutions have, however,
bought local stocks.
KGI Securities expects economic growth of 3-5 percent for
the second half of 2014, up from a close-to-negative rate in the
In a report on Wednesday, the broker said the end of
political disputes on the streets, declining political risks and
economic uncertainty, and restarting of growth drivers should
boost sentiment and real sector performances in the second half
Shares of retailer Robinson Department Store
jumped 4.1 percent and Siam Commercial Bank rose almost
2 percent to a near one-week high.
Data showed the economy remained weak in April, with factory
output down for the 13th straight month and imports slumping
again. Exports remained weak, falling 0.9 percent from a year
(Reporting by Viparat Jantraprap; Editing by Alan Raybould and