Thai shares close 0.86 percent lower

Thai share prices closed 0.86 percent lower Friday in line with heavy losses across the region amid fears that US subprime mortgage problems could trigger a global credit crisis, dealers said. They said sentiment was sluggish as investors were alarmed by signs that the fallout from the US loan market was spreading to other regions.
The Stock Exchange of Thailand (SET) composite index fell 6.99 points to 804.84 and the blue chip SET 50 index lost 5.28 points to 574.35. Losers outnumbered gainers 268 to 94, with 96 stocks unchanged on turnover of 2.5 billion shares worth 19.4 billion baht (570 million dollars).
The Thai baht moved little from Thursday, closing at 34.07-09 to the dollar. Against the euro, the Thai unit was quoted at 46.63-71 from 46.80-86. "Investors were nervous as they were not sure how this subprime crisis would affect the US economy," said Kavee Chukitkasem, assistant managing director at Kasikorn Securities.