SET index plunges on bad news
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Beleaguered in a wave of bad news, the Stock Exchange of Thailand is under selling pressure and the composite index today ends at a 4-month low and below the psychological level of 1,100 points.
The index lost 16.04 points or 1.44 per cent to 1,099.15 points, on turnover of Bt22.5 billion. It was under volatility, as the index at one time peaked at 1,122.35 points.
The index was the lowest since February 3, when it was at 1,098.95 points.
Stock analysts attributed the fall to two key factors - increasing political instability at home following conflicts over reconciliation plans, and the heightened risks in the euro zone.
Today, Standard & Poor's Ratings Services released a report that said there is a one in three chance that Greece may exit the eurozone and re-adopt its drachma currency.
This would heighten the needs for financial supports from other 16 member states to save the euro.
