April 4, 2013 / 9:24 AM / 5 years ago

STOCKS NEWS THAILAND-Property shares bounce; cbank plans no measures

Property shares rebounded from the previous session’s steep losses after Thailand’s central bank said it planned no measures to cool down the property sector.

Shares in Pruksa Real Estate Pcl jumped 5.7 percent to 27.75 baht after Wednesday’s 7.9 percent drop while Quality Houses Pcl gained 3.1 percent to 4.02 baht after losing 8.9 percent in the previous session.

Wednesday’s selloff came after the Bank of Thailand said growth in household credits and consumer loans remained high and property prices in some areas rose rapidly.

The Bank of Thailand senior official Somboon Chitphentom told reporters on Thursday the central bank has been cautious on growth in the property sector but it had no measures in the pipeline.

1606 (0906 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Anand Basu)

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