Thai shares closed 2.25 percent lower on Monday in line with regional markets as losses on Wall Street sparked heightened concerns of a global economic recession, dealers said. The Stock Exchange of Thailand (SET) composite index lost 9.84 points to close at 427.85 while the blue chip SET-50 index fell 8.13 points to 295.46.
Losers overwhelmed gainers 241 to 51 while 90 stocks were unchanged on turnover of 1.41 billion shares worth 6.93 billion baht (198.26 million dollars). The Thai baht was flat against the dollar, closing at 34.97-99 baht from 34.96-97 baht on Friday.
The unit gained against the euro to finish at 44.54-60 from 45.00-05. Pichai Lertsupongkit, senior vice president at Thanachart Securities, said the market fell in line with other regional markets over recession fears. "The market was affected by regional markets which revealed investor concern after the US economic figures were released," Pichai said.