SET Index falls almost 7%
The Stock Exchange of Thailand (SET) Index dropped sharply as energy and public utility stocks fell due to plunging crude oil prices, president Pakorn Peetathawatchai said today (March 9).
He said the index dropped by more than 6.77 per cent in the morning session because energy and public utility stocks, which accounted for 30 per cent of market capitalisation, declined due to falling oil prices.
“The decline in the SET Index was in line with global stock markets,” he pointed out. “The SET has reported the information to the Bank of Thailand, the Finance Ministry and the Securities and Exchange Commission, which are concerned.
“Meanwhile, the Finance Ministry has established a working group to monitor movement in the capital market.”
He said the SET hasn’t come out with any special measures because the existing ones are sufficient for now.
“At this time, no abnormalities have been found in stock trading orders and forced sales in industry stocks,” he said. “The SET is currently considering helping listed companies, securities firms and asset management companies and a decision will be made soon,” he added.
“This period is a good time for investment, but people should diversify their investments in various industries,” he recommended.
