SET continues southward trend | Bangkok Post: business

Thai stocks slid sharply yesterday amid a global market rout over worries that the world economy was headed toward a new recession.

The Stock Exchange of Thailand index fell 3.27% to close at 958.16 points, down 32.43, in heavy trade worth 50.1 billion baht. The index fell over 5% to drop to a session low of 940.42 points near the midday break before regaining ground in afternoon trade after finance heads of the Group of 20 nations pledged to take collective action to strengthen the global financial system.

Energy stocks dropped 4.29%, while banks and petrochemicals each lost 2.48%. Foreign investors, net sellers of 2.7 billion baht in stock during Thursday's 39-point sell-off, were net sellers of 3.15 billion baht in stock yesterday.