Thai share prices closed lower on Monday as investors stayed on the sidelines due to the political turmoil over the leadership of embattled Prime Minister Thaksin Shinawatra, dealers said.
They said protesters' threat to stage daily rallies against Thaksin spooked investors and pressured buying sentiment.
The Stock Exchange of Thailand (SET) composite index fell 2.58 points or 0.34 percent to 750.81 and the blue chip SET 50 index shed 2.27 points to 530.28.
Losers outnumbered gainers 196 to 120 with 110 stocks unchanged on turnover of 1.8 billion shares worth 9.5 billion baht (250 million dollars) traded.
The Thai baht closed at 38.74-82 to the dollar Monday, against 38.85-88 Friday. Against the euro, the Thai unit stood at 46.69-79, compared with 46.65-71. "Political uncertainty is the main factor for the market decline. Buying sentiment was very weak as the crisis appeared to be continuing for a while," said Sukbir Khanijoh, a security analyst at Trinity Securities.
"Investors were worried as demonstrators said they would hold protests everyday until Thaksin resigns," Sukbir said.
Thaksin, under mounting pressure to quit over allegations of corruption and abuse of power, on Monday urged his rivals to agree to a compromise to end the nation's political turmoil, a day after 50,000 protesters marched on the prime minister's office.
Hoping to defuse the crisis, Thaksin dissolved parliament on February 24 and called snap elections. But the opposition shocked him with a boycott that threatens the legitimacy of the April 2 polls.
Simmering discontent among Bangkok's middle class bubbled over in January when Thaksin's family sold their shares in Shin Corp, the telecoms giant Thaksin founded before entering politics, for 1.9 billion dollars, tax-free.
Thailand's top energy firm PTT fell 2.00 to 252.00 baht but its subsidiary PTT Exploration and Production rose 4.00 to 544.00.
Thailand's top lender Bangkok Bank fell 1.00 to 117.00 but the third-largest lender Kasikorn Bank edged up 0.50 to 67.50.
Thai Airways International increased 0.50 to 44.75 and Shin Corp gained 0.25 to 48.75.
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