Thai stocks fall 2 pct after army seizes power

BANGKOK Thu May 22, 2014 11:18pm EDT

BANGKOK May 23 (Reuters) - Thai stocks fell 2 percent to their lowest in nearly two weeks on Friday, a day after the army chief seized control of the government in a coup.

The SET index was down 2.1 percent at 1,376.67, the lowest since May 12, amid active selling in large cap banks and telecoms stocks, including shares of Advanced Info Service and Siam Commercial Bank.

The benchmark closed up 0.16 percent on Thursday before the military announcement, with foreign outflows continuing for a third straight session after the imposition of martial law on Tuesday.

Thailand's army chief, General Prayuth Chan-ocha, seized control of the government in a coup late Thursday, two days after declaring martial law, saying the military had to restore order and push through reforms after six months of turmoil. (Reporting by Viparat Jantraprap; Editing by Richard Borsuk)