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Thai shares jump 3 percent, led by energy stocks

Thai shares jump 3 percent, led by energy stocks

Thai shares surged 3 percent Friday, led by energy blue chips amid rising global oil prices.
The Stock Exchange of Thailand's benchmark SET Index gained 2.32 points to close at 741.38, as trading totaled 2.3 billion shares worth 12.6 billion baht.
Banks continued to gain amid optimism over loan growth outlook and earnings prospects for next year but overall gains were limited by profit-taking in some construction contractors and housing developers.
Analysts forecast that the index was expected to continue its rise, given the baht's strength against the U.S. dollar and expectations of a year-end rally.
Among actively traded issues, oil and gas giant PTT rose 1.7 percent to 234 baht, Siam Commercial Bank increased 0.7 percent to 70.50 baht. Land & Houses fell 0.6 percent to 8 baht, Airports of Thailand was down 2.3 percent to 63.50 baht on profit-taking after it announced earnings in line with expectations for fiscal year 2006.