Thai share prices closed 0.37 percent lower on Friday in line with regional markets and pressure in the energy sector from rising oil prices, dealers said. They said there was also continued profit-taking amid negative effects in some sectors from the strength of the Thai baht.
The Stock Exchange of Thailand (SET) composite index fell 2.72 points to 725.77 and the blue chip SET 50 index lost 2.00 points to 508.64. Losers outnumbered gainers 198 to 121 with 125 stocks unchanged on turnover of 2.7 billion shares worth 12.2 billion baht (331 million dollars).
The Thai baht continued to strengthen to a near seven-year high at 36.87-89 to the dollar from Thursday's 36.98-37.01 and at 46.71-75 to the euro from 46.80-87. "The energy sector had pressure today from foreign oil prices," said Kanang Duangmanee, a researcher at Kasikorn Research Center. "Major regional markets also closed down today and the SET followed the regional trend," she said.
There was also continued profit-taking in the banking and communication sectors and negative effects felt by the agricultural sector from the continued strength of the Thai baht.
Thailand's largest energy firm PTT was flat at 228.00 baht, as was its subsidiary PTT Exploration and Production at 112.00. The country's top lender Bangkok Bank was fell 1.00 to 117.00, and the third-largest lender Kasikorn Bank dropped 1.00 to 70.50. Thai Airways International gained 0.25 to 47.75, and Thailand's top mobile phone operator, Advanced Info Service, rose 0.50 to 91.50.
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