Foreigners Continue Selling
March 29, 2011
The Stock Exchange of Thailand index fell 8.67 to 1172.38. About 54.3 million shares valued at 3.37 billion baht changed hands, compared with 61.8 million shares worth 4.95 billion baht Tuesday. Declining stocks outnumbered advancing stocks 216 to 101, excluding foreign shares. The SET 50 index, comprising the 50 most actively traded stocks, declined 0.71 to 89.12. Dealers attributed the fall of the market Wednesday mainly to continued selling by foreign investors. Dealers said the selling was mainly due to domestic market conditions, including expectations for poor second-quarter corporate earnings and worries about Thailand's widening current-account deficit. `There seems to be little confidence among foreign investors,'' said Charbonneau Knorr, an analyst at Adkinson Securities PCL. Among the most actively traded stocks, Thai Farmers Bank dropped 1 baht to 180 baht a share. Bangkok Bank, the country's biggest bank, fell 2 baht to 226 baht a share. Siam Commercial Bank also fell 2 baht to 262 baht a share.
