February 22, 2008
BANGKOK (AFP) - Thai share prices closed flat on Friday with investors still spooked by fears over a slowdown of the US economy, dealers said.
They said the Thai market moved in line with other regional markets like Hong Kong and Japan.
The Stock Exchange of Thailand (SET) composite index fell 0.27 points, or 0.03 percent, to 826.86 and the blue-chip SET-50 fell 1.06 points to 597.73.
Gainers outnumbered losers 183 to 140, with 143 stocks unchanged on turnover of 1.56 billion shares worth 14.70 billion baht (445.66 million dollars).
The Thai baht closed at a new 10-year high of 32.30-31 against the dollar, up from Friday's 32.41-43. Against the euro, the Thai unit was quoted at 47.90-98 from 47.68-74.
"The market was sluggish today because investors carried on their fears over a possible recession of the US economy," said Ronnakrit Sarinwong, executive vice president at Adkinson Securities.
Ronnakrit said that trading was thin and investors chased gains in construction and property shares after companies in the sector posted strong earnings.
Thailand's biggest energy firm PTT lost 4.00 baht to 328 and its subsidiary PTT Exploration and Production also fell 4.00 to 154.00.
Thailand's largest lender Bangkok Bank was unchanged at 125.00, and the kingdom's biggest mobile phone operator, Advanced Info Service, rose 1.00 to 103.00.
Shares in Thai Airways International edged down 0.25 to 32.00, and Thailand's top industrial conglomerate, Siam Cement, declined 2.00 to 214.00.
