Thai share prices closed 0.48 percent lower on Monday as investors sold energy-linked stocks in line with falling oil prices, dealers said. They said sentiment was also downbeat due to a lack of new leads and sluggish trading across the region.
The Stock Exchange of Thailand (SET) composite index fell 3.59 points to 736.83, and the blue chip SET50 index lost 2.38 points to 516.46. Losers outnumbered gainers 243 to 116, with 92 stocks unchanged on turnover of 3.6 billion shares worth 15.5 billion baht (425 million dollars). The Thai baht rose to a fresh seven-year high of 36.50-53 to the dollar, up from Friday's 36.61-63, and closed at 46.86-91 to the euro from 47.13-18.
"Due to recent declines in oil prices, energy-related shares were heavily sold today," said Kanang Duangmanee, a senior economist at Kasikorn Research Center. "Also investors sold shares to adjust their positions as sentiment was weak due to a fall in the regional market," Kanang said. World oil prices slipped below 60 dollars a barrel Friday as the International Energy Agency (IEA), a policy advisor on energy issues to the governments of its 26 member countries, trimmed its forecast for global demand.
In lacklustre Asian trade, oil prices slightly rose to 59.72 dollars per barrel Monday from 59.59 dollars in late New York trades Friday. Thailand's largest energy firm PTT Plc was unchanged at 226.00 baht but its subsidiary PTT Exploration and Production fell 2.00 to 106.00. The kingdom's top lender Bangkok Bank rose 2.00 to 125.00 but the third-largest lender Kasikorn Bank slipped 1.00 to 71.50. Flag carrier Thai Airways International edged down 0.50 to 48.50.
Comments
Comments are closed.