Thai share prices closed 0.32 percent lower on Wednesday as investors were worried exiled former premier Thaksin Shinawatra's expected return to Thailand could spark political turmoil, dealers said. They said investors turned sellers, bucking a regional trend, with many foreign investors staying on the sidelines ahead of Thaksin's homecoming on Thursday.
The Stock Exchange of Thailand (SET) composite index fell 2.63 points to 832.04 and the blue chip SET-50 lost 2.24 points to 602.32. Losers led gainers 167 to 139, with 140 stocks unchanged on turnover of 2.61 billion shares worth 15.06 billion baht (456.58 million dollars).
The Thai baht closed at a fresh 10-year high of 32.12-14 against the dollar, against Tuesday's 32.25-26. Against the euro, the Thai unit was quoted at 48.41-46 from 47.83-86. "The market fell today because investors were worried about political uncertainty," said Viriya Lappromrattana, senior vice president at Kiatnakin Securities.
"Many investors stayed on the sidelines to wait and see what will happen next after Thaksin arrives in Thailand tomorrow," Viriya said. Thaksin was ousted by the military in a bloodless coup in September 2006. Since then, he has been living in self-imposed exile, mainly in London and Hong Kong.
Thailand's biggest energy firm PTT was unchanged at 334.00 baht and its subsidiary PTT Exploration and Production also remained flat at 156.00. Major energy firm Banpu fell 12.00 to 488.00. Thailand's largest lender Bangkok Bank was also unchanged at 126, and the kingdom's biggest mobile phone operator, Advanced Info Service, declined 2.00 to 105.00. Shares in Thai Airways International edged up 0.25 to 32.25.
Comments
Comments are closed.