Bangkok Post

The Stock Exchange of Thailand Index managed a gain of just 2.08 points from the day before to close at 1,296.98, a decline of 0.9% from the previous Friday's close of 1,311.35. Turnover was 34.58 billion baht, with 7.36 billion shares traded.

Foreign investors were net sellers on Friday of 455.8 million baht worth of Thai shares and local brokers sold 906.76 million. Local institutions were net buyers of 845.89 million baht and individual investors bought 516.72 million.

World markets were mixed even after reports that US jobless claims fell sharply, with analysts saying more data were needed to confirm an improvement in the world's largest economy.
 
European stocks fell in early trading. Britain's FTSE was off 0.2% at 5,815.68. Germany's DAX lost 0.3% to 7,258.40 and France's CAC-40 shed 0.3% at 3,403.29. 

The picture was mixed in Asia. Japan's Nikkei 225 closed 0.2% lower at 8,534.12. Softbank plunged 16.9% in Tokyo on news that it is in talks to take a substantial stake in the US carrier Sprint Nextel Corp.
 
Hong Kong's Hang Seng advanced 0.7% to 21,136.43 and Australia's S&P/ASX 200 added 0.1% to 4,486.60. South Korea's Kospi was flat at 1,933.26.

In Bangkok, the SET50 index of blue chips ended at 879.31 points, up 2.15 points, with total trade value of 21.32 billion baht. The SETHD index of high-dividend shares rose 1.90 points to 1,143.14, with turnover of 9.31 billion baht. The Market for Alternative Investment gained 1.41 points to 371.99, with transaction value of 1.09 billion baht.

The five most active shares by value were Robinson Department Store (ROBINS), down one baht to 55.25; PTT, up 2 baht to 317; the transit advertising firm VGI Global Media, following up its strong debut with a gain of another 2.25 baht to 57.25; 7-Eleven operator CP ALL, up 0.75 to 39.50; and VGI parent BTS, unchanged at 5.80 baht.

In the currency markets, the baht had its first loss in three weeks as international investors cut holdings of Thai stocks on concern about slowing global growth.

The IMF this week said world economy would expand by 3.3% this year, the slowest since the 2009 recession, compared with a July prediction of 3.5%.

Overseas funds had sold $363 million more Thai equities than they bought this week through Thursday, exchange data show.

Other Asian currencies rose today as Singapore's central bank unexpectedly maintained a monetary policy stance that it says is appropriate to contain inflation and ensure growth, while its GDP contracted in the last quarter.

"Concern about global growth is deepening, and that deters investors from putting money into emerging-market stocks," said Tsutomu Soma, manager of the investment trust and fixed-income business unit at Rakuten Securities in Tokyo. "Bonds are supported as investors prefer safer assets."

The baht was trading late yesterday in Bangkok at 30.62/65 to the US dollar, compared with 30.66/71 on Thursday, but down 0.3% from a week earlier.

The yield on the 3.25% Thai government bonds due in June 2017 dropped three basis points, to 3.25% from a week ago.