At 9.25 am the SET index rose to 1,047.70 points, up 15.39 point (+1.49%).

Porranee Thongyen, managing director at Asia Plus Securities Plc, said the stock market went up in line with the regional bourses and is influenced by the weakening of the U.S. dollar, pushing energy and petrochemical stocks to lead the rise.

She added that the weakening of the U.S. dollar also helps pushed up petrochemical products and oil prices to further gain significantly.

Losers far outnumbered gainers 314 to 61 and 77 stock values remained unchanged.

The day’s most noticeable deal involved BANPU (502.00 -2.00 -0.40%), PTT (221.00 -8.00 -3.49%), PTTEP (126.00 -3.00 -2.33%), ADVANC (80.75 -3.75 -4.44), and SCB (78.75 +0.00 +0.00).

“Investors are worried that the so-called Red-Shirt protests might turn violent,” a broker in Bangkok said.

He said the country’s political uncertainties have brought a lot of nasty effects on the stock market and the Thai economy.

Mr. Thaksin supporters, known as the Red-Shirt people, previously announced to mount an endurance protest aiming to dethrone the government from power.

Mr. Thaksin himself told his supporters that the country’s reelection could come as soon as the first quarter of 2010—a speech that sparks hopes amid his supporters, which comprised of a network of poor citizens in the north and northeast.

Gainers far outnumbered losers 251 to 69 with 103 stocks remained unchanged.

Energy and banking sectors remained the major stocks to lead the market rally.

The day’s most noticeable deals involved PTT (232.00 +6.00 +2.65%), PTTEP (138.00 +4.00 +2.99%), PTTAR (19.70 +0.70 +3.68%), BANPU (336.00 +9.00 +2.75%), and SCC (171.00 +0.00 +0.00%).

Despite the economic contract, the country’s infrastructures remain strong with relatively low-level of non-performing loans in the banking sector and sufficient liquidity in the consumer market.

The country’s long political conflicts have been resolved and the government is now better stable.

Over the last two months, foreign investors were net buyer of more than 10 billion baht with turnover above 100 million baht daily, or accounting for more than 2.0 percent in the Thai equity market.

However, the international fund management still views the Thai bourse as small market with restrictions on foreign investors’ activities, comparing to its neighboring Singapore’s stock exchange, which receiving highly rated in term of flexibility, trading access and tax incentive.

Ms. Patareeya said the road show will give the international investment funds with boarder prospects of the Thai economic outlook and the market’s information disclosures.

The index gained 32.78 percent in first half of the year, adding 1.18 trillion baht to the market value.

Foreign investors are net buyer of 30.19 billion baht with an average daily turnover of 17.5 billion baht.

Analysts remarked it is obviously not easy to make profit during the downturn amid foreign investors dumping the energy and banking stocks for profit-taking, as well as the regional markets slump.

They said 600-point mark for the second half should be easy passed and the index now is in the upward trend.

“We expect to see the economy fully recovered in the next year. It means stocks prices should be higher,” a new source quoted comments of people involved with the stock market administration.

Kasikorn Thai Securities Plc estimated that the SET index will be able to reach 700 point by the yearend on a condition that crude oil price stayed around $80 a barrel. It suggests holding shares of energy companies such as PTT, PTTEP or their affiliates.

The energy and banking stocks led the market movements with losers far outnumbered gainers of 295 to and 90 stocks stayed unchanged.

The day’s most noticeable deals involved in PTT (222.00 -6.00 -2.63%), PTTEP (123.00 -6.00 -4.65%), BANPU (313.00 -15.00 -4.57%), KBANK (63.25 -3.25 -4.89%), and TOP (33.00 -2.00 -5.71%).

The major Asian stock markets are also all down on Tuesday. Tokyo’s Nikkei dropped 276.66 to 9,549.61. Hong Kong’s Hang Seng fell 521.18 to 17,538.37. Singapore’s Strait Time’s went down 40.82 to 2,226.10 and Taiwan’s Weighted Stock slumped 173.74 to 6,197.47.

The energy stocks led the fall in line with the regional markets and dollar weaken, which expected to continue to influent the market over the next week.

Losers far outnumber gainers of 239 to 99 with 114 stocks remained unchanged.

Traders noted that the market’s movement is in the same pattern of the regional markets, which seen to rebound conditionally depending on how fast it goes down.

The day’s most noticeable deals involved in PTT (234.00 -5.00), PTTEP (132.00 -4.00), BANPU (336.00 -15.00), KBANK (64.00 -2.25), and TTA (22.40 -0.50).