Shares in the country's top listed hotel and fast-food operator, Minor International Pcl, gained as much as 4.8 percent to its highest in almost five years, as rising tourist arrivals lifted hopes over its earnings, brokers said.

Minor shares were up 2.7 percent at 15 baht, climbing at one point to 15.3 baht, the highest since Oct. 2007, with about 14.9 million shares having changed hands, 2.1 times the average full-day volume in the last 30 days.

The broader stock market was down 0.7 percent.

The number of foreign tourists grew 7.5 percent year on year in the first two months of April-June quarter and the quarterly earnings outlook for hotel operators was expected to grow year on year on rising number of tourists, said Phillip Securities.

"Among peers, MINT is expected to see the highest earnings growth," the broker said in a report. Its target price on the stock is 16.1 baht ($0.51).

1116 (0416 GMT)

(Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)