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Thai stock exchange temporarily halts trade

Thai stock exchange temporarily halts trade

Trading on the Thai stock market was temporarily halted Monday afternoon after the benchmark index tumbled 10 percent, triggering an automatic 30-minute break.
The Stock Exchange of Thailand, or SET, index was at 389.58 points when trading was suspended, said exchange President Pattariya Benjaphonchai. It ended up closing the day down 45.4 points, or 10.5 percent, at 387.43.
Markets around the region were also sharply lower, extending last week's sell-off on fears of a deep global recession.
It was only the third time in the Thai stock market's 30-year history that the circuit breaker was triggered. The first was in December 2006, when an interim government announced controversial controls on capital flows and the second was on Oct. 10 this year when regional markets fell sharply.
Trading was suspended at 4.04 p.m. _ less than half an hour before the end of the afternoon trading session.
Analysts said the global financial crisis and domestic political uncertainty have dampened overall sentiment.
Thailand has been in an extended political crisis, with a protest group trying to force the government to step down. Their efforts erupted into violence on Oct. 7 when police used tear gas to break up their blockade of parliament. In running street battle that ensued, at least two people were killed and more than 400 injured.


Updated : 2021-07-27 19:52 GMT+08:00