June 7, 2013 / 7:36 AM / 4 years ago

Thai index gains on buying in growth stocks

BANGKOK, June 7 (Reuters) - Thailand's benchmark SET index
 gained more than 1 percent at midday as growth stocks
such as Airports of Thailand Pcl and Minor
International Pcl recouped some recent losses amid
bargain hunting, traders said.
    Light trading volume so far in the session pointed to market
caution ahead of U.S. jobs data later in the day -- a key 
factor as to when the tapering of quantitative easing in the
United States begins.
    Domestic funds such as long-term equity funds (LTFs) and
trigger funds were in the market, which could help the main SET
index hold up well above the 1,500 level, said CIMB Securities
analyst Teerawut Kanniphakul.
    Phillip Securities advised investors to limit their exposure
to equities.
    "The support level of 1,440-1,460 may be used as a buying
opportunity to bet on a rebound, but investors should limit
equity holdings to 25 percent of the short-term portfolio until
more developments in factors affecting the market will play
out," the broker said.
    
 ----------------------MARKET SNAPSHOT @ 0719 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 SET INDEX                        1507.19      1.14%    16.980
 SET 100 INDEX                    2227.69      1.21%    26.720
 SET 50 INDEX                     1000.68      1.18%    11.680
 SET 50 INDEX FUTURES<0#S50:>     998          0.98%     9.700
 SET ENERGY                       20576.71     1.01%   204.970
 SET BANK                         550.59       0.91%     4.990
 SET TELECOMS                     244.05       1.84%     4.410
 SET PROPERTY                     319.44       2.03%     6.370
 SET FINANCE                      1940.33      0.77%    14.870
                                  VOLUME    TURNOVER          
 SET TRADING VOLUME               4088201   26331916     X1000
 -------------------------------------------------------------
 
 (Reporting by Viparat Jantraprap in Bangkok; Editing by Sunil
Nair)

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