Thai share prices closed 1.34 percent lower on Friday following the regional trend amid persisting fears over the global financial crisis, dealers said. Concerns over political uncertainty in Thailand also drove the Thai index down, they said. The Stock Exchange of Thailand (SET) composite index lost 6.42 points to close at 471.31 points, while the blue chip SET-50 index fell 5.27 points to 328.00 points.
Losers led gainers 207 to 118 with 98 stocks unchanged on turnover of 5.19 billion shares worth 15.84 billion baht (462.42 million dollars). The Thai baht was unchanged against the greenback and finished at 34.25-27 baht on Friday. But it gained against the euro, closing at 46.00-05 baht from 46.11-19 baht the previous day.
"The market was volatile today and closed in the negative zone. Fears over the global financial situation continued affecting the market," said Chai Chirasevenupraphand, a market analyst at Capital Nomura Securities. Rumours swirled Friday that Prime Minister Somchai Wongsawat would step down and dissolve parliament after pressure from the army chief, but the premier held a press conference and denied that he would resign. The government is trying to quell months-long protests against its rule, which have battered the stock market.
Thailand's top energy firm PTT fell 2.00 baht Friday to close at 177.00 baht, while its subsidiary PTT Exploration and Production lost 5.50 to 97.50. Banpu, a major coal miner, shed 5.00 to 181.00. The country's biggest lender Bangkok Bank lost 4.00 to 70.00. Kasikornbank slipped 1.50 to 54.50 while Siam Commercial Bank edged down 0.50 to 59.00. The kingdom's biggest telephone operator Advance Info Service rose 5.00 to 83.00, while the country's flagship carrier Thai Airways slipped 0.40 to 8.80.