SET index ends at 1,306.98 points
Thai shares ended at a four-month low, moving sideways downward in light of a series of bad news that range from falling oil prices to disappointing trade data of China.
Tisco Securities said in a research note that the index could fall further today due to the bad news and the absence of good news. As the US rate hike is expected, new foreign capital is not expected to enter the Thai market, it said.
"Meanwhile, domestic political condition is getting unstable following the Rajabhakti Park scandal. Moreover, investors would shy away from the Thai market due to holidays," it said.
Monday and Thursday are declared public holidays in Thailand.
The SET Index at noon already fell below the securities house's expectation. While it said the index should not breach 1,325 points today, at noon the index fell to 1,317.10 points, losing 16.47 points or 1.24 per cent. Turnover was thin at Bt17.6 billion.
Other Asian bourses also fell as oil prices fell to a seven-year low and China reported disappointing trade figures.
At noon, the index lost 16.47 points or 1.24 per cent to 1,317.10 points, on turnover of Bt17.6 billion.
On Monday, US benchmark West Texas Intermediate crude sank 5.8 per cent and Brent shed 5.3 per cent - hitting levels not seen since February 2009. WTI tumbled 2.7 per cent and Brent lost 1.9 per cent Friday.
In China, data showed that China's exports fell by a more-than-expected 6.8 per cent in November from a year earlier, their fifth straight month of decline. Its international reserves shrinks fast to US$3.4 trillion at the end of November, the lowest in two years.
Shares in China, Hong Kong and Japan ended lower today.
At the close, Thai shares lost 26.59 points or 1.99 per cent to end the day at 1,306.98 points.
At the level, it is the lowest in four months. On August 24, the index slid to 1,301.06 points.
Turnover was thin at Bt36.92 billion.
All types of investors, but retail investors, were net-sellers today. In December, foreign investors sold Thai shares for net Bt1.7 billion, boosting year-to-date net-sells to Bt123.5 billion.
