Thai capital markets dropped more sharply than other Asian markets Thursday amid concerns about looming political instability, the possibility of war between North Korea and South Korea and local measures to control a property bubble.
The Stock Exchange of Thailand main index opened at 1,482.48 points, down 38.04 points from Wednesday's close. The trade value was 3.02 billion baht, with 1.83 billion shares traded.
Adisak Phupiphathirunkul, investment strategist at Thanachart Securities, said investors lost confidence on several negative factors so decided to leave the market when it plunged to 1,490 points, considered as its strong support line.
Factors to monitor closely today were Prime Minister Yingluck Shinawatra's hidden assets case and the possiblity of war on the Korean pennisula, he said.
The SET index rebounded to 1,493.34 points by midday, down 27.18 points or 1.79% in total trade of 23.4 billion baht with 7.6 billion shares traded.