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Listless Thai Market Fails to Rouse Investor Activity.

Bangkok Post (Bangkok, Thailand)

| December 12, 2001 | COPYRIGHT 2001 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Krissana Parnsoonthorn

Dec. 12--Thai stock prices shed 3.02 percent yesterday as PTT Plc and the new listing of Aeon Thana Sinsap (Thailand) could not drive up the market.

The Stock Exchange of Thailand's prime index closed at 294.86 points, down 9.19, in turnover worth 8.025 billion baht.

Aeon's shares opened at 59 baht, up from the initial public offering price of 51 baht, before closing at 63.5 baht, up 24.5 percent in turnover worth 997.13 million baht.

However, Namchai Techarattanaviroj, a strategist at Phillip Securities, said the overall investment sentiment was not upbeat as the market lacked new positive factors to stimulate trading.

Although new stocks had been listed in recent weeks, especially Internet Thailand and PTT, both formerly state enterprises, they could not move the market forward, he said.

Shares of PTT Plc slipped below the initial public offering price of 35 baht for the first time in the third day of trading, closing at 34 baht, down 1.50 baht, in turnover worth 1.42 billion baht.

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