Thai shares nosedive
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The Stock Exchange of Thailand Index today nosedived, ending morning session at 1,500.97 points.
It lost 20.51 points or 1.35 per cent. Turnover was brisk at Bt50.5 billion. At one point, it plunged by 45 points, to 1,477.28 points.
On Friday, the Index lost 20 points, due mainly to local institutional investors' net sells worth Bt4.9 billion. During Thursday and Friday, foreign net-buys were worth only Bt475 million.
Tisco Securities expected a return of foreign inflows worth US$956 million (approximately Bt33 billion) ahead of September 16 when the Thai market's weighting in FTSE Index will be lifted. Yet, it urged investors to stop loss if the index falls below 1,520 points today.
Across Asia, Asian shares rose on Monday after a weaker-than-expected US jobs report prompted investors to trim expectations that the Federal Reserve would hike interest rates as early as this month.
MSCI's broadest index of Asia-Pacific shares outside Japan extended early gains and was up 1.4 per cent by midday.
