Thai share prices closed 0.14 percent lower on Tuesday, reflecting investor concerns about the political situation in the kingdom after anti-government protests, dealers said. They said investors also dumped their shares in the energy sector due to worries over high oil prices.
The Stock Exchange of Thailand (SET) composite index fell 1.20 points to close at 855.60 while the blue chip SET 50 index lost 1.33 points to 616.00. Gainers led losers 172 to 155 with 133 stocks unchanged on turnover of 6.90 billion shares worth 17.11 billion baht (529.95 million dollars).
The Thai baht depreciated against the dollar, finishing at 32.28-30 baht from 32.14-16 baht on Monday. The baht also weakened against the euro, closing at 50.91-95 baht from 50.58-67 baht the previous day. Pichai Lertsupongkit, senior vice president at Thanachart Securities, said that the Thai bourse moved narrowly and closed down, bucking the regional trend due to worries about the country's volatile politics.
"Investors delayed their investment in the market today, waiting to see how the politics will progress," he said. Protests against proposed amendments to the new constitution entered a third day Tuesday, spearheaded by the group, which led to massive street demonstrations against premier Thaksin Shinawatra in early 2006.Thaksin was overthrown in aa coup in September that year"Besides politics, high oil prices also drove investors to continue selling their energy stocks," Pichai added.
Thailand's top energy firm PTT Plc dropped 6.00 baht to close at 354.00 baht and its subsidiary PTT Exploration and Production fell 1.00 to 193.00. Another major energy firm, Banpu, rose 4.00 to 480.00. The country's biggest lender Bangkok Bank gained 1.00 to 137.00 while Kasikornbank edged up 0.50 to 87.50. Siam Commercial Bank was unchanged at 94.00. Thai Airways International edged down 0.60 to 24.90 while the kingdom's biggest telephone operator Advance Info Service rose 0.50 to close at 96.00.
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