Tuesday, Jun 30, 2015Tuesday, Jun 30, 2015

Thai shares fall amid political tensions; other South-east Asian markets up

Published on Mar 24, 2014 12:54 PM

BANGKOK (Reuters) - Thai shares touched two-week lows on Monday, underperforming other Southeast Asian stock markets, as investors trimmed holdings in shares of tourism-related and consumer companies amid concerns about domestic political tensions.

The key SET index was down 0.6 per cent at midday, falling almost 1 per cent at one point to 1,348.24, the lowest since March 10. Top losers included shares of retailer CP All and airport operator Airports of Thailand.

Sentiment is likely to remain weak as investors await the Election Commission's conclusion on a new election expected later in the day following the Constitutional Court's ruling on Friday that the Feb 2 election was invalid.

Supporters of Thai Prime Minister Yingluck Shinawatra said over the weekend they will take to the streets as moves to impeach her gather pace, raising the spectre of confrontation with protesters who helped scupper a February election she had been expected to win.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!