Shares of energy stocks, mainly those operating power plants in Thailand, edged higher on Thursday in a positive response to an unexpected interest rate cut by the Bank of Thailand yesterday.
Shares of Gulf Energy Development Public Company Limited (SET: GULF) reached 68 baht, rising by 2.25 baht or 3.42%.
Global Power Synergy Public Company Limited (SET: GPSC) saw its share price increase to 48.75 baht, up by 0.25 baht or 0.52%.
Ratch Group Public Company Limited (SET: RATCH) shares climbed to 33.75 baht, a rise of 0.75 baht or 2.27%.
Gunkul Engineering Public Company Limited (SET: GUNKUL) showed an increase to 2.88 baht, adding 0.02 baht or 0.70%.
Maybank Securities (Thailand) remarked that the Thai stock market has risen following the major Asian markets on Thursday. This positive sentiment is further supported by the Monetary Policy Committee (MPC) lowering interest rates, benefiting stocks that gain from declining interest rates, such as GULF and GPSC.
