Foreigners remain net-sellers of Thai shares
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Thai shares declined while the baht rose on Tuesday, as weak US economic data exacerbated the politically-torn sentiment.
The Stock Exchange of Thailand composite index lost 15.97 points or 1.24 per cent to 1,276.84 points on turnover of Bt24.95 billion.
The Thai baht appreciated sharply to 32.75 per US dollar today from the intraday high of 32.95.
Foreign investors remained net-sellers of Thai shares, with sales outpacing purchase by Bt4.9 billion today. In two days, their net sales hit Bt7.89 billion, pushing the year-to-date level to Bt21.56 billion.
Asian markets slumped Tuesday - led by a four per cent fall in Tokyo - following a huge sell-off on Wall Street as disappointing US manufacturing data compounded already deep fears about emerging markets.
Tokyo dived 4.18 per cent, or 610.66 points, to 14,008.47. The losses leave the Nikkei 14 per cent down since the start of the year, having surged 57 per cent in 2013 to mark its best year in four decades.
Seoul fell 1.73 per cent, or 33.11 points at 1,886.85 and Sydney lost 1.75 per cent, or 90.8 points, to 5,097.1.
Hong Kong plunged 2.89 per cent, or 637.65 points, to 21,397.77.
US manufacturing sector growth slowed sharply in January, with new orders nearly stalling, according to the Institute for Supply Management's purchasing managers index released Monday.
The ISM index sank to 51.3 from 56.5 last month, still showing expansion but not far above the 50 level between expansion and contraction.
It was the second month that the PMI showed slowing in the sector.
The new orders component plunged to 51.2 from 64.4, and production slowed almost as steeply, to 54.8 from 61.7.
