The Thai stock market plunged 1.32% yesterday, extending a rout that wiped out about 1.75 trillion baht in market capitalisation from the year's peak on May 21 to June 12, amid a mass sell-off by offshore investors.
The Stock Exchange of Thailand (SET) index fell to 1,433.47 points after rollercoaster trading of 66.5 billion baht. The benchmark index has sank 12.8% since May 21 but gained 4.86% year-to-date.
Pakorn Peetawatchai, the SET's chief strategic officer, said the market has been volatile, with profit-taking by both speculators and mid-term investors after the market doubled the past three years.
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