Thai share prices closed flat on Friday, with investors cautious given sustained concerns over the likelihood of higher US interest rates, dealers said.
They said uncertainty over the fate of Prime Minister Thaksin Shinawatra's ruling party also made for subdued trade, with prosecutors considering filing vote fraud charges against the party that could lead to its dissolution.
The Stock Exchange of Thailand (SET) composite index edged up 0.20 points to 659.52 while the blue chip SET 50 index gained 0.11 points to 456.01.
Losers led gainers 163 to 120 and 130 stocks were unchanged on trade of 1.0 billion shares worth 5.0 billion baht (129 million dollars). The Thai baht on Friday closed at 38.42-47 to the dollar, little changed from Thursday's 38.34-39 and at 48.15-45 to the euro after 48.30-60.
"The market moved very narrowly as investors remained concerned over US interest rates," said Pichai Lertsupongkit, a senior market analyst at Prudential Siam Securities.
Investors were cautious ahead of a widely expected move by the US Federal Reserve to raise rates by a quarter-point to 5.25 percent when it meets on June 28-29, Pichai said.
The analyst said buying sentiment was also weak due to political uncertainty after the Election Commission ruled Thursday that Thaksin's party violated laws in the campaigning for snap polls on April 2 that were later invalidated.
A panel of prosecutors met for three hours Friday to consider whether to bring the case against the party, which has run the country for the last five years, to the Constitutional Court.
If found guilty, the court could disband the party and bar Thaksin from forming a new one for five years - a move analysts said could plunge Thailand's young democracy back into turmoil.
Shares in Thailand's top energy firm PTT were unchanged at 218.00 baht and its subsidiary PTT Exploration and Production also closed flat at 101.00. Thailand's top lender Bangkok Bank was unchanged at 98.00, and Kasikorn Bank, the third-largest bank, remained flat at 56.00. Shares in Thai Airways International edged up 0.25 to 40.00.
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