February 7, 2008
BANGKOK (AFP) - Thai share prices closed 0.18 percent lower on Thursday as many investors stayed on the sidelines due to the long Chinese New Year holiday, dealers said.
They said sentiment was also sluggish due to sustained concern over a US recession.
The Stock Exchange of Thailand (SET) composite index fell 1.46 points to 793.17 and the blue-chip SET-50 lost 2.20 points to 57.063.
Gainers led losers 207 to 104, with 103 stocks unchanged on turnover of 1.91 billion shares worth 7.45 billion baht (2.26 billion dollars).
The Thai baht was unchanged from Wednesday, closing at 32.90-95 against the dollar. Against the euro, the Thai unit was quoted at 48.18-22 from 48.08-10.
"The market was rather quiet with modest trading since many investors were away due to China's Lunar New Year holiday," said Pongrat Ratanatavanananda, vice president at Bua Luang Securities.
The holiday, China's most important festival of the year by far, began on Wednesday and will run for several days.
Pongrat said the market was also downbeat due to ongoing fears over a slowing US economy.
"The market fell slightly because investors remained concern over a recession in the US economy," she said.
Thailand's biggest energy firm PTT lost 6.00 baht to 310.00 and its subsidiary PTT Exploration and Production also fell 3.00 to 141.00.
Thailand's largest lender Bangkok Bank was unchanged at 120.00. The kingdom's biggest mobile phone operator, Advanced Info Service, also remained flat at 94.50.
Shares in Thai Airways International slipped 0.25 to 33.50.
