SET dives below 1,000
Federal Reserve's dire outlook drives sell-off
- Published: 23/09/2011 at 08:26 AM
- Newspaper section: Business
Thai stocks yesterday plunged 3.79% to close below 1,000 points, the lowest close since March due to investor panic over the global economic crisis after the Federal Reserve warned that the US faces a grim economic outlook with significant downside risk.
The Stock Exchange of Thailand index dropped 39 points to close at 990.59 in trade worth 32.5 billion baht. Large-cap stocks were subject to heavy sales.
Kasikornbank (KBANK) shares fell 4.45% to close at 118 baht in heavy trade worth 1.7 billion baht, followed by PTT shares falling 3.21% to 302 baht in trade worth 1.88 billion.
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About the author
- Writer: Nuntawun Polkuamdee
- Position: Business Reporter
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