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The Stock exchange of Thailand main index dropped more than ten points in the afternoon, the same as other stock markets in the region, including China and South Korea, an analyst said.
At 2.34pm, the SET index stood at 1,107.35 points, down 10.05 points, or 0.90%, on Monday’s close. The main index had rebounded to 1,108.25 points, down 9.25 points, or 0.82%, at 2.49pm.
Apichart Phubancherdkul, director for strategy analysis division at TISCO Research Office, said it is expected that the main index will go down further because the Moody Investor Service had made known that it would cut its credit rating for Britain, France and Austria. The credit rating firm had earlier cut its credit rating for six other countries in Europe.
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Red-shirt supporters have expressed dismay over ousted prime minister Thaksin Shinawatra's call for them to set aside their anger and frustration over social and legal injustices for the sake of national reconciliation.
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Discussion 1 : 14/02/2012 at 04:27 PM1
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True story should read "Italy, Spain and Portugal are among a number of eurozone nations to have had their credit ratings lowered by ratings agency Moody's. The agency also downgraded Slovakia, Slovenia and Malta. Moody's also put France, Britain and Austria on "negative outlook", which implies there is a 30% chance of a downgrade in the next 18 months" According to the BBC.
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