Thai share prices closed flat on Tuesday, bucking robust gains across the region amid concern over a possible delay of general elections in December, dealers said. They said investors traded with caution as five cabinet ministers and a top government spokesman have resigned recently amid a growing shares scandal, sparking worries that the upcoming polls could be postponed.
The Stock Exchange of Thailand (SET) composite index edged up just 0.96 points to 853.43 and the blue chip SET-50 index added 0.15 points to 622.03. Gainers led losers 184 to 139, with 137 stocks unchanged on turnover of 2.8 billion shares worth 28 billion baht (820 million dollars).
The Thai baht hardly changed against the dollar, closing at 34.24-27. Against the euro, the Thai currency finished at 48.50-65 from 48.75-77. "Despite the strong regional market, the Thai market rose slightly due to domestic political problems," said Pichai Lertsupogkit, senior vice president at Thanachart Securities.
Pichai said buying sentiment was weak as investors were worried over a possible delay of the elections in December, the first polls since the military toppled premier Thaksin Shinawatra's government in last year's bloodless coup. "Thculation that the government might be forced to delay the elections," he said.