Thai Currency, Stock Markets Make More Gains.

Dec. 1--The currency and stock markets yesterday both extended week-long gains credited to a pickup in foreign investment in Thai shares and speculation ahead of next week's start of trade for PTT Plc.

The baht yesterday broke through 44 to the US dollar, helped by foreign buying in the share market. The baht ended yesterday at 43.88/92 to the US dollar, compared with 44.04/08 on Thursday.

The currency gains were helped by steady foreign buying of Thai shares. The Stock Exchange of Thailand yesterday broke through the 300-point barrier from the start of trade, and ended the day at 302.62, up 4.75, in trade worth 10.45 billion baht. Leading gains were finance, up 3.25 percent, banks, up 0.38 percent and property stocks, up 2.88 percent.

Foreign investors were net buyers on the market, purchasing shares totalling 1.88 billion baht and selling 1.6 billion.

Analysts said buying stemmed mostly from hopes of further rises next week.

Trading in PTT Plc will start on Thursday. The oil giant's initial public offering of 920 million shares was heavily oversubscribed, particularly by retail investors chasing short-term gains.

Improved sentiment in the market could help extend gains for the baht against the US dollar, particularly as interest rate spreads between the local and overseas market are expected to widen further. The central bank now keeps its key 14-day repurchase rate at 2.5 percent, ...