Thai share prices closed 0.25 percent lower Friday with foreign investors taking profits in energy stocks after oil prices fell, dealers said. The Stock Exchange of Thailand (SET) composite index shed 1.81 points to 708.98 and the blue chip SET 50 index was off 1.94 points at 498.67.
Losers outnumbered gainers 148 to 123 and 131 stocks were unchanged amid sluggish trading of 1.6 billion shares worth 10.5 billion baht (257.0 million dollars).
The baht continued to gain on the US dollar amid investor expectations that the Bank of Thailand will raise its benchmark interest rate at the next Monetary Policy Committee meeting October 19.
The dollar lost against other major currencies, dealers said.
The Thai unit closed Friday at 40.83-85 baht to one dollar against 40.96-99 Friday.
But the Thai unit dropped against the euro to close at 49.60-65 baht to one euro against 49.07-12 Thursday. "Foreign investors are still selling blue chip stocks in the energy sector due to falling world oil price in recent days. Overseas investors hold a lot of energy shares," Pichai Lertsupongkit, chief dealer at Prudent Siam Securities said.
"Thai Oil hit an intra-day low of 69.50 baht before rebounding to close at 71.00 baht," he said.
He said investors were also concerned that the US Federal Reserve could raise its interest rates more than expected to stem inflation.
The energy sectoral index dropped 1.23 percent.
Bangkok Bank rose 1.00 baht at 101.00 but Kasikornbank shed 0.50 at 60.50 and Siam Commercial Bank lost 0.25 at 49.00.
PTT Plc fell 4.00 at 232.00 and its subsidiary PTT Exploration and Production plunged 8.00 to close at 448.00. Advanced Info Service added 1.00 baht at 105.00 but Thai Airways International declined 1.25 at 37.00. United Communication was unchanged at 51.00.
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