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Friday 5 November 9:38 PM
Thai Shares End Dn Led By Energy Stks; Unrest In South-2-BANGKOK (Dow Jones)--Thai shares ended lower Friday, bucking regional trend as a possible escalation in sectarian violence in the southern provinces damped market sentiment, with energy stocks leading the decline in response to falling global oil prices, analysts said. "The falling oil price should have been a positive factor. However, heavyweight energy stocks dropped in line with the oil price and dragged the index down," said Panyakit Chaovamu, research manager at SICCO Securities. The Stock Exchange of Thailand Index closed down 4.04 points, or 0.6%, at 635.09. The blue-chip SET 50 index was down 0.29 point, or 0.7%, at 44.36. The Market for Alternative Investment Index, the board for small capitalization stocks, closed down 2.84 points, or 1.5%, at 184.71. Decliners led advancers 199 to 94. Volume was 2.1 billion shares worth THB16.65 billion, compared with 1.84 billion shares worth THB16.38 billion Thursday. In Thailand's southern provinces, suspected Muslim insurgents attacked an army unit protecting Buddhist monks at a monastery early Friday, killing one of the soldiers, police said. Crude futures for December delivery fell $2.06 a barrel to finish at $48.82/bbl on the New York Mercantile Exchange, the lowest settlement for a front-month crude futures contract since Sept. 24. (MORE) Dow Jones Newswires November 05, 2004 05:27 ET (10:27 GMT) DJ Thai Shares End Dn Led By Energy Stks; Unrest In South-2- Leading the index decline was Thai Oil, the nation's largest refiner, which fell 4.4% to THB43. It was the most active stock on the main board with trading valued at THB2.68 billion. Oil and gas conglomerate PTT shed 1.2% to THB169, while its unit PTT Exploration and Production slid 1.9% to THB306. Gains in banking shares on expectations of a rise in interest rates for deposit accounts limited the index's loss. Siam Commercial Bank added 0.6% to THB45.25, after the country's fourth-largest bank said Thursday it plans to raise its long-term deposit rates for fixed deposit accounts with maturities of two years or more by the end of this year. Bangkok Bank advanced 1.1% to THB94.50 and Kasikornbank climbed 2.7% to THB48. Analysts expect the index to find support at 630 points and resistance at 640 Monday. -By Maytinee Wasumadee, Dow Jones Newswires; 662-266-0744; djnews.bangkok@dowjones.com
Dow Jones news delayed 20 minutes. Copyright 2001 Dow Jones & Company, Inc. All Rights Reserved. Copyright © 2002 Yahoo! Inc. All rights reserved.
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