February 20, 2008
BANGKOK (AFP) - Thai share prices closed 1.02 percent lower on Wednesday as soaring oil prices spooked investors, sparking selling across the board, dealers said.
They said sentiment was also sluggish in line with losses in the region.
The Stock Exchange of Thailand (SET) composite index fell 8.49 points to 827.13 and the blue-chip SET-50 lost 6.43 points to 598.79.
Losers far outnumbered gainers 249 to 79, with 115 stocks unchanged on turnover of 2.21 billion shares worth 19.28 billion baht (584.39 million dollars).
The Thai baht closed at a new 10-year high of 32.41-43 against the dollar, up from Tuesday's 32.51-53. Against the euro, the Thai unit was quoted at 47.68-74 from 47.84-88.
"Investors were worried not only over high oil prices but also their impact" on the global economy, said Kavee Chukitkasem, assistant managing director at Kasikorn Securities.
In New York Tuesday, crude oil futures closed above 100 dollars a barrel for the first time, pressuring Wall Street and Asian markets.
Kavee said the Thai bourse also fell on ongoing concern over a slowdown in the US economy, the kingdom's largest trading partner.
Thailand's biggest energy firm PTT was unchanged at 332.00 baht, while its subsidiary PTT Exploration and Production edged up 1.00 to 158.00.
Thailand's largest lender Bangkok Bank lost 1.00 to 125.00, and the kingdom's biggest mobile phone operator, Advanced Info Service, fell 2.00 to 102.00.
Shares in Thai Airways International edged down 0.50 to 32.25, and Thailand's top industrial conglomerate, Siam Cement, declined 2.00 to 214.00.
