Thai shares up, but not up to expectations

The Earth Times

Tue, 14 Oct 2008
Author : DPA

Bangkok - Thai shares jumped 5.13 per cent in value Tuesday, up, but not up to expectations, analysts said. The Stock Exchange of Thailand (SET) index ended at 500.71, up 24.44 points or 5.13 per cent.

"International factors pushed the market up but prices didn't go up as high as expected," said Mongkol Phuangphaetha, a stock analyst at Adkinsons Securities.

"Perhaps there was some hesitancy to buy because of fears of a clash with Cambodia," he added.

Cambodian Prime Minister Hun Sen on Monday warned Thailand to withdraw its troops from a disputed area around the Preah Vihear temple on the Thai-Cambodian border by Tuesday or face a fight.

In Phnom Penh Hun Sen claimed the Thais had withdrawn by noon, although in Bangkok the Thais said they hadn't retreated. Whatever the truth, there was no fighting.

Preah Vihear is an 11st century Hindu temple on the Thai-Cambodian border that was ruled to belong to Cambodia by the International World Court in a controversial 1962 case. The area around the temple is still subject to a border dispute.