Thai share prices closed 0.23 percent lower on Thursday, pressured by political uncertainty after a Thai court declared last month's snap polls invalid and ordered a new election, dealers said.
They said investors also sold banking and energy shares to adjust their positions ahead of a long weekend. The Stock Exchange of Thailand (SET) composite index fell 1.78 points to 782.50 and the blue chip SET 50 index lost 1.46 points to 544.68.
Losers outnumbered gainers 197 to 159 and 103 stocks were unchanged with 3.0 billion shares traded with 16.4 billion baht (433 million dollars).
The Thai baht closed on Thursday at 37.80-83 to the dollar, against Wednesday's 37.63-66. Against the euro, the Thai currency closed at 48.09-15, little moved from 48.09-14.
"Political uncertainty was pressuring the market. Although the court ordered a new election, we don't know when that takes place. Investors don't like uncertainty," said Sukhbir Khanijoh, a senior analyst at Trinity Securities.
The market was also under pressure as investors sold banking and energy shares to adjust their positions ahead of a long weekend. Thailand's financial markets are closed on Friday due to a public holiday.
On Wednesday, a Thai court ordered the government and election authorities to set the date for a new general election, while outgoing prime minister Thaksin Shinawatra remained coy about whether he would run again.
Thaksin's ruling Thai Rak Thai party won the April 2 election with 56 percent despite weeks of protests against him in Bangkok, but his victory was undermined by an opposition boycott that succeeded in persuading many Thais to cast protest votes.
The Constitutional Court on Monday ruled that the hastily-arranged April 2 snap polls were invalid and ordered a new election.
Shares in Thailand's top energy firm PTT fell 2.00 to 260.00 baht and its subsidiary PTT Exploration and Production was unchanged at 125.00.
Thailand's top lender Bangkok Bank lost 1.00 to 117.00, and Siam Commercial Bank, the fourth-largest lender, slipped 0.50 to 67.50.
Thai Airways International added 0.25 to 47.25.
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