SET index down on absence of positive factors

The Stock Exchange of Thailand composite index slides below the psychological 1,500 points today, in line with regional bourses which are bracing for complications in the global financial market.

As of 4.18pm, the index was at 1,499.97 points, down by 0.03 per cent from the previous closing. In the morning, it lost as much as 0.51 per cent, trailing Japan’s nearly-1 per cent loss. Hong Kong and Korean bourses also fell in the morning session.

Asia Plus Securities said that while there was no positive factor, the market outlook is marred by a series of negative factors - like the Italy’s presidential election during February 24-25 as well as a likely downgrade in the US’s credit rating following failure to reach a deal on fiscal deficit.

Today, the European Central Bank will convene, widely expected to maintain the benchmark rate at 0.75 per cent as there is no clear sign of economic recovery in the euro zone.