September 6, 2008
Bangkok - The political situation and world oil prices made the stock index hit the lowest in nineteen months.
Thai Kasikorn Research Center (TKRC) revealed the stock index dropped from 684.44 to 645.80 points during September 1-5.
The Thai stock market was pressed by the uncertain politics and weakened baht currency.
Concerns over world delayed economy also led to continual foreign selloffs during the week.
Energy and bank stocks were sold out after the declaration of the state of emergency by Prime Minister Samak Sundaravej.
It was estimated PTTEP stock should be affected the most by falling oil prices.
TKRC believed the investors would still closely keep eye on political situation in this coming week.
The index was expected to test the support at 600 and 642 points while testing the resistance at 660 and 674 respectively.
