Thai share prices closed flat on Tuesday amid uncertainties over Thailand's new general election and tensions over Iran's nuclear projects, dealers said. They said trading was also influenced by an inflow of capital to the region after China raised its interest rates.
The Stock Exchange of Thailand (SET) composite index gained 0.37 points or 0.05 percent to 706.30 and the blue chip SET-50 index rose 0.49 points to 495.97. Gainers led losers 160 to 143 with 124 stocks unchanged on turnover of 3.1 billion shares worth 7.57 billion baht (2O2 million dollars).
Against the dollar, the Thai baht closed at 37.55-57 after Monday's 37.44-50. Against the euro, the Thai currency finished at 48.12-36 from 48.17-40.
"Investors traded with caution as they are waiting for clarity on the new election commission and the election date," said Chai Chiraseveenuprapan, manager of market strategies division at Capital Nomura Securities.
Thai lawmakers are in the process of selecting new commissioners after three members of the panel were convicted last month of illegally aiding Prime Minister Thaksin Shinawatra's Thai Rak Thai party in snap polls held in April. But doubts are growing over whether a new commission will be in place in time for elections now set for October 15.
Meanwhile, Chai said investors speculated on energy stocks as oil prices rebounded from Monday's drop on tensions over Iran's nuclear ambitions. "Also, there are some gains from capital inflow into the region. Against the US dollar, the Thai currency has remained relatively strong," he added.
Thailand's top energy firm PTT closed unchanged at 246.00 and its subsidiary PTT Exploration and Production gained 2.00 to 117.00. The country's top lender Bangkok Bank was unchanged at 107.00 and the third-largest Kasikorn Bank closed unchanged at 64.00. Thai Airways International edged up 0.50 to 41.25. Thailand's largest mobile operator Advance Info Service was unchanged at 93.00.
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