Monday, September 15, 2008

Thai stocks hit by Lehman, but baht and bonds rise

By Orathai Sriring

BANGKOK, Sept 15 (Reuters) - Thai stocks fell on Monday as global financial woes outweighed the lifting of a state of emergency in Bangkok, but the baht rose and domestic government bonds continued to benefit as investors sought low-risk bets.

Although the removal of emergency rule may ease tension in Thailand in the short term, the country's protracted political crisis continues, with anti-government protesters still occupying the prime minister's official compound in Bangkok.

At 0520 GMT the main stock index .SETI was down 1.23 percent at 646.26, with turnover a thin 3.2 billion baht ($93 million). Analysts had expected the end of emergency rule to help shares, but that did not take into account the Lehman factor.

No comments: