February 3, 2014 / 3:28 AM / 4 years ago

Thai stocks open higher after Sunday's election

BANGKOK, Feb 3 (Reuters) - Thailand’s main share index rose on Monday after voting in Sunday’s general election went ahead peacefully and investors bought back large caps such as Advanced Info Service and Krung Thai Bank to cover short positions.

The benchmark rose 0.9 percent to 1,285.26, in relatively light early volume but analysts said the rise might be limited.

“The market gain was more to do with trading and short-covering,” said Teerada Charnyingyong, a strategist at broker Phillip Securiites.

“I think investors will play on news flows about developments on the political front as the Election Commission still has a lot to do to solve election-related problems,” she said. (Reporting by Viparat Jantraprap; Editing by Alan Raybould)

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