Thai shares manage to close above 600

Thai shares manage to close above 600 psychological level for first time in 2 weeks, end +1.0% at 601.60 in volatile, fairly moderate session. Bangkok Bank (BBL.TH) saying it is ready to divest its 19.3% stake in ACL Bank (ACL.TH), speculation on potential progress over Financial Institutions Development Fund selling stake in Siam City Bank (SCIB.TH) spark gains across banking sector while most energy blue chips underperform.

Benchmark likely to hover around current level Tuesday as "closing above 600 would be good enough for institutional investors' booking for second quarter," says DBS Vickers Securities analyst Arparporn Sawaengpak; 580-610 range tipped for week. Among top actives, Siam City Bank (SCIB.TH) +16.6% at THB16.90, Bank of Ayudhya (BAY.TH) +1.3% at THB15.20, ACL Bank (ACL.TH) +11.4% at THB5.85, Bangkok Bank (BBL.TH) +0.9% at THB107.