Reuters
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STOCKS NEWS THAILAND-Thai index at 4-week lows, big caps lead
Wed, Apr 11 03:48 AM EDT

Thai shares extended their retreat on Wednesday to the lowest level since March 13, dragged by heavyweight energy and telecommunications counters as brokers said investors cut positions in risk assets ahead of a long weekend.

The benchmark SET index was down 0.52 percent at 1,159.50 by 0741 GMT. Turnover was 33 percent of average full-day volume over the last 30 sessions in holiday-thinned demand.

Thai markets will be closed on April 13-16 for the Songkran holiday.

PTT Pcl, the largest index component by market capitalisation and the country's biggest energy company, led decliners with a 1.7 percent fall, while mobile phone operator Advanced Info Service Pcl dropped 2.1 percent.

Brokers expect weak market sentiment to continue as risk aversion clouds global stocks, and after a U.S. employment report came in much weaker than expected last Friday.

"Our sense is a further correction is possible due to weaker U.S. figures and resurfacing worries about the euro zone," said a KGI Securities broker.

1430 (0730 GMT)

(Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)


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