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Stocks

Thai stocks fluctuate amid mixed news

SINGAPORE -- Thai stocks fluctuated Monday, as investors tried to absorb last week's bomb attacks and the release Monday of better-than-expected economic growth figures.

At one point in Monday trade, the benchmark SET index was down as much as 13.87 points, or 0.89%, from Thursday. The market was closed Friday for the queen's birthday.

Tourism-related stocks faced selling pressure amid worries that the attacks will dampen the industry, with shares in Airports of Thailand and hotel and restaurant operator Minor International falling sharply.

But the National Economic and Social Development Board announced that the economy expanded a faster-than-expected 0.8% in the second quarter from the previous three months, pushing the index into positive territory.

On Thursday, the SET index hit a 15-month high amid expectations that the economy would bottom out soon. 

Meanwhile, the Thai baht was holding steady in Monday trade. As of noon, Japan time, the currency was trading at around 34.70 against the dollar, about the same level as Friday night.

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