Thai share prices closed 2.86 percent lower on Monday amid fears about the global financial crisis following the latest news about troubles in the European financial sector, dealers said. They said Thai market fell due to losses in big-cap energy and banking shares.
The Stock Exchange of Thailand (SET) composite index fell 17.68 points to close at 601.29 points, while the blue chip SET-50 slid 14.68 points to 420.57. Losers overwhelmed gainers 289 to 41 with 81 stocks unchanged on turnover of 1.79 billion shares worth 10.05 billion baht (294.90 million dollars). The Thai baht depreciated against the dollar, closing at 34.06-08 baht from 33.93-95 baht on Friday.
But the Thai unit strengthened against the euro, finishing at 48.75-81 baht from 49.46-50 baht. "The market fell in line with other regional markets. Investors fear the uncertainty in the global financial sector," said Chai Jirasevenupraphand, market strategist at Capital Nomura Securities. "The latest bad news from financial giants in Europe just added to that sentiment."
The country's top energy firm PTT lost 6.00 baht to close at 230.00 baht, while its subsidiary PTT Exploration and Production also fell 6.00 baht to 130.00. Banpu, a major coal miner, dropped 28.00 to 304.00. The country's biggest lender Bangkok Bank lost 3.00 to 103.00, while Kasikornbank shed 2.50 to 62.50 and Siam Commercial Bank fell 2.00 to 68.50. Thai Airways edged down 0.50 to 12.00.