Home Economy Thai shares fall 10.5 percent

Thai shares fall 10.5 percent

By DPA,

Bangkok : Thai shares lost 10.5 percent of their value Monday, prompting a circuit break at 4 p.m., as investors continued to dump equities in panic selling.

The Stock Exchange of Thailand (SET) index ended at 387.43, down 45.44 points or 10.5 percent, crashing through the 400-point psychological barrier.

Authorities enforced a 30-minute circuit break at 4 p.m. after the market tumbled more than 10 percent.

“Asia fell hard today in region-wide panic selling,” said Phuwadon Larpudomsuk, an analyst at Asia Plus Securities.

“There was no buying power, just selling power,” he added.