Thailand's stocks fell Tuesday, reversing earlier gains, amid speculation overseas investors may add to the biggest monthly net sales in almost two years.
The benchmark SET Index (SET) slid 3% to close at 1,427.42, the steepest loss in a week and the most among Asian benchmark indexes. Siam Commercial Bank Pcl (SCB), the country's third-biggest lender by total assets, and PTT Pcl were the biggest drags on the index. All but one of the gauge's 27 industry groups retreated.
"More pressure from foreign selling is likely," said Veera Vutthikongsirigool, chief investment officer at Krung Thai Asset Management Co, which oversees about US$14 billion of investments. "Market volatility will remain high."
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