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Profit-taking puts brakes on New Year rally in Thailand.

Bangkok Post (Bangkok, Thailand)

| January 06, 2005 | COPYRIGHT 2005 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

Jan. 6--Thai stocks yesterday closed 0.14 percent lower as investors took profit after ringing in the New Year with a sharp market rally on Tuesday.

The Stock Exchange of Thailand index closed at 683.50 points, down 0.98, in heavy trade worth 31.88 billion baht. Bank shares led with a 0.7 percent fall, followed by construction materials which rose 2.58 percent and energy, off 0.52 percent.

Analysts agreed the gloom caused by the tsunami disaster had eased and fears about its economic impact were limited.

Chaiyaporn Nompitakcharoen, a strategist at Bualuang Securities, said investors, particularly retail, began taking profit while foreign ...

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Source: HighBeam Research, Profit-taking puts brakes on New Year rally in Thailand.

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