Thailand’s SET Index fell below a 1,600-point threshold in the afternoon session, after a broad sell-off in big-cap stocks led by banking and energy sectors.
As of 16.20 hrs. local time in Thailand, the SET Index dropped 32.84 points or 2.01% to 1,599.78 points, with a trading value of THB64,179 million.
The stock index made a small bounce before closing to finish the day at 1,600.06 points, decreased 32.56 points or 1.99% with a trading value of THB73 billion .
According to Finansia Syrus Securities, a deeper decline in the SET Index during the afternoon session was consistent with overseas markets, as investors feared that central banks in many countries, especially those major economies, would tighten monetary policy in response to rising inflation.