“The Stock Exchange of Thailand’s (SET) Board of Governors will meet tomorrow at 08:00 hrs. to assess the effectiveness of the Bank of Thailand’s (BOT) measures to curb short-term capital inflows. The Board will also consider whether to propose other steps to the BOT,” Ms. Nongram Wongwanich, SET Executive Vice President, reported.
BOT’s steps to cope with short-term capital inflows resulted in a drop of over 10% in the SET Index from the previous day’s close. Hence, SET announced a trading halt for 30 minutes, from 11:29 to 11:59 hrs. The halt occurred when the SET Index was at 656.49 points, down 74.06 points, or 10.14%, from the previous day’s close.
Today, the SET Index closed at 622.14, decreasing 108.41 or 14.84%, which was the largest single-day slump ever in SET’s 31-year history, in percentage terms. Total trading value was THB 72.13 billion (approx. USD 2.04 billion).
Derivatives trading on Thailand Futures Exchange (TFEX) reached 8,504 contracts, as investors closed their positions The Market for Alternative Investment (mai), which normally does not have much foreign participation, was also affected. The mai Index decreased by 20.99 points or 10.56%. Meanwhile there was no transaction on the Bond Electronic Exchange (BEX).
