Thai share prices drop

29 Sep, 2005

Thai share prices closed 0.14 percent lower on Wednesday as investors adopted a wait-and-see attitude ahead of the central bank's monthly economic figures due at the end of the week, dealers said. The Stock Exchange of Thailand (SET) composite shed 1.04 points at 723.20 points and the blue chip SET 50 index was off 0.71 points at 511.91.
Losers led gainers 177 to 133 with 106 stocks unchanged on light trade of 2.5 billion shares worth 16.2 billion baht (393.1 million dollars).
The Thai baht was flat at 41.19-21 to the dollar and slightly firmer at 49.48-52 to the euro compared to Tuesday's close of 49.56-60.
"The market is in a consolidation period following gains in recent days in which the index broke the 720-point mark," Warut Sivasiriyanon, chief analyst at Globlex Securities said.
"Investors are waiting for the current account status figures August to be released by the Bank of Thailand on Friday."
Warut said overall the market was still positive.
Chakrit Charoenmathachai at Finansa Securities said trade was also sluggish due to the absence of foreign investors who were holding ont their cash for the initial public offering of shares in the giant Electric Generating Authority of Thailand (EGAT) early next month.
Bangkok Bank was unchanged on 104.00 baht as was Kasikornbank on 63.00 but Siam Commercial Bank shed 0.50 to 52.00.
PTT rose 2.00 to 246.00 and its subsidiary PTT Exploration and Production gained 4.00 to 464.00.
Siam Cement extended its gains by another 4.00 to 240.00, while Advanced Info Service was steady at 109.00. United Communication was off 0.50 to 52.50.

Read Comments