Thai share prices closed 1.18 percent lower on Tuesday as investors remained jittery over the fallout from the US subprime loan crisis, dealers said. They said selling spread across the board following heavy losses on Wall Street on fears of a looming recession in the US economy.
The Stock Exchange of Thailand (SET) composite index fell 9.79 points to 822.99, and the blue chip SET-50 index lost 8.37 points to 602.11. Losers led gainers 217 to 101, with 109 stocks unchanged on turnover of 1.4 billion shares worth 11.8 billion baht (348 million dollars).
The Thai baht closed at 33.84-85 to the dollar, hardly changed from Monday's close. Against the euro, the Thai unit was quoted at 50.24-29 from 50.25-36. "Investors continued to sell big-capped stocks due to sustained worries over the subprime crisis," said Sukit Udomsirikul, a market analyst at Siam City Securities.
"They were worried because they had yet to see an end to the crisis. Investors still don't know the extent of the subprime crisis," Sukit said, adding hefty losses on Wall Street on Monday also pressured the market.
Thailand's top energy firm PTT fell 6.00 baht to 364.00, and its subsidiary PTT Exploration and Production declined 4.00 to 146.00. Thai Oil also shed 1.50 to 83.50.
The kingdom's top lender Bangkok Bank slipped 1.00 to 115.00. Thai Airways International was unchanged at 36.75. The flag carrier said Tuesday its net profit in the year to September 2007 dropped nearly 30 percent. Thailand's biggest mobile phone operator, Advanced Info Service, edged down 0.50 to 88.00.
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