Thailand follows global slumps
The Thai bourse today extended losses, as investors worldwide were selling shares in panic on growing fears that Greece will default and the eurozone debt crisis will spread.
While Tokyo fell 1.05 per cent, or 89.36 points, to 8,456.12, while Seoul slumped 3.59 per cent, or 63.46 points, to 1,706.19, Hong Kong slumped 3.40 per cent, or 571.88 points, to 16,250.27, its lowest close since the end of April 2009. Singapore tumbled 3.5 per cent o 2,531.02 points.
The Stock Exchange of Thailand index today lost another 13.86 points or 1.59 per cent, on turnover of Bt34.4 billion. At the close, the index was 855.45 points.
However, good news is foreign investors remained to be net-buyers for the first time in two weeks. Today, their purchases outpaced sales by Bt44.7.7 million, boosting accumulated net-buys this month to 843.5 million. The bourse however ended lower today due to local institutions of which net-sells reached Bt2.9 billion.
The losses followed another slump on Wall Street, where the Dow shed 2.36 per cent on Monday to finish at its lowest level since September 2010.
Fears are growing as Greece said it would miss the deficit targets, one condition that it must do to qualify for the much-needed 8 billion euro bailout package from other eurozone economies.
