Thai share prices closed 2.47 percent lower on Thursday as selling spread across the board amid sustained concerns over a possible recession in the US economy, dealers said. They said investors dumped key domestic blue chip stocks including banking and energy shares due to uncertainty over the shape of a new government following last month's elections.
The Stock Exchange of Thailand (SET) composite index fell 20.29 points to 800.18, while the blue chip SET-50 index lost 18.24 points to 580.22. Losers outnumbered gainers 251 to 75, with 108 stocks unchanged on turnover of 1.69 billion shares worth 15.30 billion baht (461 million dollars).
The Thai baht closed at a 10-year high of 33.16-21 to the dollar, little changed from Wednesday. The Thai unit was quoted at 48.66-71 from 48.79-84 against the euro. Thailand's biggest energy firm PTT fell 16.00 baht to 332.00, and its subsidiary PTT Exploration and Production lost 7.00 to 152.00.
Energy firm Banpu declined 14.00 to 382.00. The kingdom's top lender Bangkok Bank slipped 1.00 to 112.00. Thai Airways International was down 1.50 at 31.50, and Thailand's biggest mobile phone operator, Advanced Info Service, lost 1.00 to 96.50.
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