Thai share prices closed 0.44 percent lower on Tuesday, bucking a firmer region, as the market reopened after a long holiday weekend following last week's plunge on Wall Street, dealers said. They said heavyweight energy stocks suffered the most during as the market consolidated with no new leads to guide investors.
The Stock Exchange of Thailand (SET) composite index lost 3.82 points to 859.76 and the blue chip SET 50 fell 4.34 points to 617.33. Gainers, however, led losers 191 to 132, with 128 stocks unchanged on turnover of 2.7 b next month.
"Thai stocks had no lead to boost trading ahead of the referendum on August 19 on the draft constitution," said Mayuree Chowvikran, a senior market analyst at Siam City Securities. Thais will vote in the referendum on whether to accept or reject an army-backed constitution, which the junta says will pave the way for elections by the end of the year.
Energy-linked stocks, which account for almost 30 percent of the Thai bourse, dropped 2.2 percent. "Energy stocks, led by PTT, fell after share prices jumped recently on expectation of strong earning results," the analyst said. Thailand's top energy firm PTT shed 8.00 baht to 314.00 and its unit PTT Exploration and Production lost 2.00 to 128.00. Top lender Bangkok Bank closed unchanged at 128. Thai Airways International was also flat at 48.00.
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