THAI NEWSPAPER HIGHLIGHTS - JUNE 1, 2004.

BANGKOK, June 1 Asia Pulse - Highlights of today's newspapers:

THE BANGKOK POST:

- Thailand recorded its first monthly current account deficit in two years, due to a trade deficit on rising energy costs and heavy profit repatriations by foreign businesses, according to April economic figures released yesterday by the Bank of Thailand.

- Thai shares ended slightly higher yesterday in a see-saw session led by concerns over global energy prices.

- True Corporation yesterday rebutted claims by TOT Corporation that the communications system for Bangkok's new subway had been installed in violation of laws governing the provision of telecoms services.

- Local steel manufacturers have started to feel the pinch of China's move to put the brakes on its overheating economy, as global steel prices have fallen by some US$100 per tonne over the past month.

- Economic growth in the Asia-Pacific region will continue to outpace that of the rest of the world in the next five years but a Chinese slowdown looms as a genuine threat to the region, according to the Economist Intelligence Unit.