Thai share prices closed barely lower on Tuesday as investors traded cautiously ahead of the US Federal Reserve's meeting on interest rates later in the day, dealers said. They said sentiment was weighed down by a court ruling on oil giant PTT's privatisation on Friday, which could possibly lead to the delisting of the kingdom's largest energy firm.
The Stock Exchange of Thailand (SET) composite index slid 0.94 points or 0.11 percent, to 840.45, and the blue chip SET-50 index shed 0.17 points to 616.72. Losers far outnumbered gainers 205 to 86, with 126 stocks unchanged on turnover of 1.1 billion shares worth 15.3 billion baht (456 million dollars).
The Thai baht strongly appreciated against the dollar, closing at 33.61-62 from Friday's 33.71-73. Against the euro, the Thai currency was quoted at 49.40-50 from 49.30-32. The Thai market was closed Monday for a public holiday.
"Despite the market consensus on a US rate cut, investors opted to stay on the sidelines ahead of the Fed meeting," said Kavee Chukitkasem, assistant ile, Thailand's Supreme Administrative Court is set to deliver a verdict on the privatisation of PTT in a case filed last year by consumer groups, demanding the court revoke decrees allowing PTT's privatisation.
Shares of PTT, however, gained 8.00 baht to 364.00 while its subsidiary PTT Exploration and Production closed flat at 155.00. The kingdom's top lender Bangkok Bank was also unchanged at 119.00. Thai Airways International held firm at 38.00. The kingdom's biggest mobile phone operator, Advanced Info Service, added 2.50 to 96.00.
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