Thai stocks fell by 0.52% yesterday in volatile trade as most Asian markets closed lower over concerns about the impact of proposed US banking reforms and efforts by the Chinese government to cool its economy.

The Stock Exchange of Thailand index closed yesterday at 710.39 points, down 3.71, in trade worth 18.24 billion baht, extending its losing streak to a fifth consecutive day. Energy stocks fell by 1.23%, banks gained 0.69% while construction materials lost 2.82%.

The index sunk to as low as 702.87 points in morning trade before regaining ground in afternoon bargain-hunting. The SET has fallen by nearly 3% year-to-date after posting a strong 63% gain last year. Regionally, Shanghai fell by 1.09%, Hong Kong lost 0.62% and Tokyo sank 0.74%. The Thai market is on a short-term downtrend and will test the 700-point support this week, said a local analyst.
Source: Bangkok Post