Lingering jitters send stocks tumbling again

Lingering worries over foreign investors' recent sell-offs sent the Thai stock market into another free-fall yesterday.

The benchmark SET Index sank as much as 5.69% to below the 1400-psychological level before rebounding to close slightly above the mark.

The SET plunged to 1382.29 at the opening bell, prompting panic selling which sent the market to the day's trough of 1351.95 _ a six-month low, in early trade.

Buying on dips emerged in the afternoon and helped the main gauge rebound off the day's low to end at 1403.27, for a 2.11% drop, with heavy trading value of 85.40 billion baht.

Foreigners turned to net buyers of shares worth 1.39 billion baht for the first time yesterday after a five-day streak of net selling.

Thai shares have tumbled 14.61% since the year's peak on May 21, but are up 2.65% year-to-date.