Thai share prices closed 2.61 percent lower on Monday amid a regional sell-off as investors worried over the fallout from US mortgage problems, dealers said. They said Thailand's constitutional referendum on August 19 also raised political concerns that prompted investors to put off new purchases.
The Stock Exchange of Thailand (SET) composite index lost 21.86 points to 815.87 and the blue chip SET 50 dropped 17.74 points to 581.79. Losers outnumbered gainers 329 to 56, with 69 stocks unchanged on turnover of 3.2 billion shares worth 18.1 billion baht (537.5 million dollars).
The Thai baht closed at 33.85-90 to the dollar from Friday's close at 33.84-85, while the local unit was quoted at 46.89-96 against the euro from 46.35-40. "The market today reflected both international and domestic concerns," said Ronakrit Sarinwong from Adkinson Securities.
He said investors worried over the fallout from problems in the US housing market after Wall Street fell by more than two percent on Friday. But investors also began casting a wary eye toward Thailand's first-ever referendum in less than two weeks, when voters will be asked to approve an army-backed constitution.
"The referendum also worries investors," he added. Thailand's top energy firm PTT plunged 10.00 baht to close at 292.00 while its unit PTT Exploration and Production lost 5.00 baht to 118.00. Top lender Bangkok Bank edged down 5.00 to 119.00.
Thai Airways International fell 0.75 baht to 45.75, while the kingdom's largest mobile phone operator Advanced Info Service declined 0.50 baht to 98.50.