Thai share prices closed 1.00 percent lower on Tuesday as investors were downbeat in line with a regional slump following a plunge on Wall Street, dealers said. They said the Thai market also fell on profit-taking, while investors little reacted to the cabinet's widely expected decision to partially lift martial law imposed after the September coup.
The Stock Exchange of Thailand (SET) composite index fell 7.33 points to 727.33, and the blue chip SET50 index lost 5.88 points to 506.59. Losers led gainers 207 to 118, with 108 stocks unchanged on turnover of 2.9 billion shares worth 14.4 billion baht (400 million dollars).
The Thai baht remained firm against the dollar on Tuesday, closing at 36.36-39 to the greenback from 36.39-41, and finished at 47.70-90 to the euro from 47.75-80.
"Sentiment was weak as many regional markets, such as Hong Kong, Japan and Singapore, were all down following a drop in the US market," said Kanang Duangmanee, a senior economist at Kasikorn Research Center.
US stocks plunged Monday after Wal-Mart, the world's largest retailer, said it expected November sales to be lower than last year, spelling woes for the US economy.
The Thai market was also under pressure as investors locked in profits following a sharp rise on Monday, Kanang said. While stocks here jumped Monday on the junta's proposal of partially lifting martial law, investors little reacted Tuesday to the army-backed cabinet's approval of easing the regime for the first time since the bloodless putsch on September 19.
"Investors already expected the decision, so there was no surprise in the government's announcement," she said. Thailand's largest energy firm PTT Plc fell 2.00 baht to 222.00, while its subsidiary PTT Exploration and Production was flat at 106.00.
The kingdom's top lender Bangkok Bank dropped 3.00 to 120.00, and the third-largest lender Kasikorn Bank lost 1.50 to 69.00. Flag carrier Thai Airways International slipped 1.25 to 48.00 and Thailand's biggest mobile phone operator, Advanced Info Service, fell 1.00 to 82.00.
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