SET trade halted again after heavy sell-off

SET trade halted again after heavy sell-off

A circuit breaker is applied after the SET index plunged 8% on Monday. (Bangkok Post file photo)
A circuit breaker is applied after the SET index plunged 8% on Monday. (Bangkok Post file photo)

Trading on the Thai stock market was halted after the bourse plunged 8% on Monday, triggering the circuit-breaker under the new securities trading regulations.

It is only the sixth time in history -- but the third time this year -- that a circuit breaker has been activated to curb excessive volatility in the Thai equities market.

The SET index fell 90.19 points, or 8%, to 1,037.05 points in turnover of 46.2 billion baht as of 3.30pm local time.

Trading was to resume at 3.55pm, with the pre-open session starting at 3.45 pm.

A circuit-breaker is triggered in three stages. In the first stage, equity trading is halted for 30 minutes if the SET index falls by 8%, down from the previous 10%. Trading is halted for an additional 30 minutes if the SET index plunges by 15%, a change from a 60-minute intermission for a 20% decline.

If the SET index continues falling to reach a 20% drop for the day, trading is halted for 60 minutes in the third stage.

The revised regulations are effective from Monday until June 30.


Do you like the content of this article?
COMMENT (2)

The B289bn defence plan that Taiwan hopes will deter mainland China

Taiwan will spend close to NT$240 billion (289 billion baht) on eight types of weapons to help boost its defences in the face of growing military threats from Beijing.

16:10

Historical wooden homes burn down in Hat Yai

SONGKHLA: Residents of a historical community fled for their lives as a fire destroyed six of their timber homes in Hat Yai township on Monday.

16:07

About half of inspected vehicles are polluters

Around half of all vehicles randomly checked on the roads were polluters, with exhaust emissions exceeding legal limits, the Pollution Control Department said.

16:06