January 4, 2008
BANGKOK (AFP) - Thai share prices closed 1.31 percent lower on Friday as market sentiment was dampened by worries over the health of the US economy, dealers said.
They said foreign and institutional investors sold energy-linked stocks.
The Stock Exchange of Thailand (SET) composite index fell 10.92 points to 821.71, while the blue-chip SET-50 index lost 10.39 points to 598.38.
Losers led gainers 209 to 116, with 111 stocks unchanged on turnover of 2.2 billion shares worth 22.4 billion baht (670 million dollars).
The Thai baht closed at 33.45-46 to the dollar, little changed from Thursday's finish. Against the euro, the Thai unit was quoted at 49.21-27 from 49.20-22.
"Investors continued to worry about the state of the US economy," said Thanomsak Saharatchai, a senior market analyst at Capital Nomura Securities.
Investors also refrained from buying ahead of the release of US jobs data for December later in the day amid growing fears over a recession in the US economy, dealers said.
Thanomsak added foreign and institutional investors sold energy-linked stocks to adjust their portfolios.
Energy shares alone account for nearly 30 percent of the Thai bourse.
Thailand's biggest energy firm PTT dropped 14.00 baht to 346.00, and its subsidiary PTT Exploration and Production shed 4.00 to 155.00. Thai Oil lost 2.00 to 81.50.
The kingdom's top lender Bangkok Bank slipped 1.00 to 114.00.
Thai Airways International was unchanged at 37.75, while Thailand's biggest mobile phone operator, Advanced Info Service, rose 1.50 to 97.00.
