Selling pressure on Thai shares ends, for now

Meanwhile, the baht appreciated against the US dollar to Bt36.29 at 6pm, against yesterday's closing of Bt36.42.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.6 per cent after plumbing its lowest since June 2012 on Tuesday on fears that China's slowdown would curb its huge appetite for commodities and resources, according to Reuters. The index was on track for a 2.9 per cent decline in September, extending losses for the quarter to 17.7 per cent, its worst quarterly performance in four years.

The Stock Exchange of Thailand index today ended 0.16 points or 0.01 per cent higher to 1,349 points. The market lost in the past two days due to concerns in China's economy as well as poorer-than-expected export data.

Emerging markets were hit hard in the past months on expectation that the US would hike rate for the first time in 2009. 

"Global equities are closing in on their worst quarter since 2011, with a number of factors fuelling fears in an already jittery market, including weak global growth, driven by deceleration in emerging markets, particularly China," strategists at Barclays wrote.

According to the Bank of Thailand, foreign capital worth US$5.9 billion has left Thailand so far this year.

Roong Mallikamas, head of the macroeconomics and monetary policy department at the Bank of Thailand, said that of total, around $3 billion (approximately Bt108 billion at the US$/Bt36 exchange rate) left the Thai stock market and the remaining $2.9 billion (Bt104.4 billion) from the bond market.

The Stock Exchange of Thailand's data showed that year to date, foreign net-selling of Thai shares have reached Bt107.5 billion as of September 30.

"The capital outflows accelerated in August on growing concerns about the global economic condition as well as the plunge in Chinese stock markts. The central bank will closely monitor the situation," the central bank's official said.