Thai shares down on heightened risks
Thai shares fell in tandem with regional bourses, with the SET Index ending the morning session 1.74 per cent lower.
Asian stocks declined on growing fears over European debt crisis, after Moody's Investors Service downgraded two major French banks - Societe Generale and Credit Agricole. Worries increased after Chinese Premier Wen Jiabao, speaking at the World Economic Forum in Dalian, signaled that developed nations should cut deficits and create jobs rather than relying on China to bail out the world economy.
Leaders of Greece, Germany and France will convene about 11pm today to tackle Greece's debt problem, amid speculation that there is a 98 per cent chance that Greece will default on its debts.
The Stock Exchange of Thailand Index ended the morning session 17.96 points lower, to 1,013.71 points.
The market ended the day with a loss of 8.71 points or 0.84 per cent, to 1,022.96 points. Turnover was Bt29 billion. Foreigners were net-sellers with net-sell position of Bt3.5 billion.
Tisco Securities said a research that the index should not exceed 1,075 points this month on external factors as well as internal ones mainly dealing with the new government's honeymoon period.
