PM Srettha calls urgent meeting on free-falling SET index
Prime Minister Srettha Thavisin ordered an urgent meeting on Monday to discuss measures to halt the slide in the Thai stock market.
Representatives from the Finance Ministry, Stock Exchange of Thailand (SET) and Securities and Exchange Commission were due to meet at Government House at 1pm as the SET Index continued to fall on Monday.
PM Srettha will be represented at the meeting by his adviser, Kittiratt Na-Ranong, according to a Government House source.
Srettha, who doubles as finance minister, has asked the three agencies to come up with urgent measures to prop up the SET index, which has fallen by some 120 points since his government was formed in late August.
The SET Index was hovering around 1,500 points before the Pheu Thai-led administration came to power. It fell to a three-year low of 1,371.22 on October 26.
It is now hovering around the resistance line of 1,380 points.
As of 1pm today (Monday), it had fallen six points on the day to 1,383.39.
On October 26, the SET fell by 30.48 points to close at its lowest in three years.
The SET recently issued two statements assuring investors that the stock market outlook remains healthy, but they failed to revive share prices.
