Thai share prices closed 1.37 percent lower on Thursday amid worries about the political situation in Thailand as coup rumours circulated and Bangkok's airports remained closed, dealers said. The Thai index moved narrowly in the negative direction and bucked the regional trend as investors remained jittery about ongoing protests.
The Stock Exchange of Thailand (SET) composite index lost 5.41 points to close at 389.81 points while the blue chip SET-50 index fell 4.33 points to 269.91 points. Losers overwhelmed gainers 210 to 59 with 103 stocks unchanged in sluggish trade of 2.33 billion shares worth 9.07 billion baht (256.19 million dollars).
The Thai baht depreciated against the dollar and closed at 35.38-42 baht from Wednesday's 35.25-27 baht. But the Thai unit strengthened against the euro and finished at 45.80-85 baht from 45.87-88 baht the previous day. "The market closed down today and trading was lacklustre. Investors worried over uncertainty in the current (political) situation," said Mayuree Chowvikran, senior vice president at Kim Eng Securities. "The index swung during the day as market sentiment was influenced by various rumours about the political situation," Mayuree added.
Thailand's Suvarnabhumi Airport has been closed since late Tuesday, when it was stormed by anti-government protesters. Bangkok's second, smaller airport was also shut down Thursday after demonstrators surrounded it. Prime Minister Somchai Wongsawat has rebuffed a call by the army chief to dissolve parliament to solve the crisis, sparking rumours of a coup.
Among SET blue chips, state energy firm PTT Plc lost 3.00 baht to close at 140.00 baht, and its subsidiary PTT Exploration and Production was unchanged at 85.00. Thailand's largest mobile phone operator Advanced Info Service fell 1.50 to 73.00, and largest lender Bangkok Bank shed 1.50 to 66.00 while Kasikornbank lost 1.00 to close at 42.00.
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