Thai share prices closed flat on Monday with investors sidelined ahead of the release of second-quarter profit results, dealers said. They said the market also held up amid an upbeat regional performance, with investors selling blue chip shares and awaiting economic indicators.
The Stock Exchange of Thailand (SET) composite index rose 0.06 points to 691.49 and the blue chip SET-50 index was up 0.41 points at 482.63. Gainers led losers 171 to 148 with 105 stocks unchanged on turnover of 2.5 billion shares worth 10.5 billion baht (277.63 million dollars). The Thai baht rose to 37.83-86 against the dollar from Friday's 37.85-92 and was at 48.23-29 against euro, after 48.00-17.
"They are waiting for economic data, including second-quarter results," TSEC securities analyst Arunrat Jiwangura said. Thanomsak Saharatchai from Capital Nomura securities said the market would probably rebound on Tuesday, when the commerce ministry is expected to release inflation rates.
Meanwhile the Bank of Thailand reported that the trade deficit widened dramatically to 1.7 billion dollars in the second quarter, from 224 million dollars in the first, due mainly to the soaring cost of oil imports. Bangkok Bank closed 2.00 baht lower at 101.00 while Kasikornbank closed unchanged at 61.50. Thailand's PTT was unchanged at 236.00 but its subsidiary, PTT-EP, lost one baht to 117.00.