On Thursday, the share price of Bangkok Bank Public Company Limited (SET: BBL) at the time of 11.16 a.m. was at THB 143.00, a THB 3.00 or 2.14% increase with a total trading value of THB 690.33 million.
Meanwhile, the share price of Kasikornbank Public Company Limited (SET: KBANK) at the same time was at THB 155.50, a THB 1.00 or 0.65% increase with a total trading value of THB 988.93 million.
The share price of SCB X Public Company Limited (SET: SCB) was at THB 119.00, a THB 0.50 or 0.42% increase with a total trading value of THB 728.688 million.
The share price of Krung Thai Bank Public Company Limited (SET: KTB) was at THB 21.90, a THB 0.30 or 1.39% increase with a total trading value of THB 670.92 million.
Shares of major Thai commercial banks including KBANK, SCB, BBL, and KTB edged higher after the Monetary Policy Committee (MPC) announced its decision to maintain the policy rate at 1.75% per annum, with a 6-to-1 vote. One committee member had proposed a 0.25% policy rate cut, which would have brought the rate down to 1.50%.
Phillip Securities (Thailand) noted that its analysts view this decision as a positive market sentiment for banking stocks. The move to keep the policy rate unchanged helps ease pressure on the banks’ net interest margins.
The firm recommended that investors focus on BBL, KBANK, KTB, and SCB.
