Markets

Thai shares plunged over US bailout jittery

The Stock Exchange of Thailand composite index fell 0.79 per cent, or 4.75 points, to 569.54 on Tuesday amid market jittery over uncertain outcome of the U.S. massive rescue plan for the financial sector.

The market closed barely recovered from a big fall of 2.94 per cent, or 17.70 points, to a 5-year low record of 583.59 in the morning session.

“Most institutional investors are trading more cautiously, while many individual investors opt to hold cash or invest in commodities and gold,” traders said.

Thai finance minister Suchart Thadathamrongvej has called an emergency meeting following shares plunged in the morning session.

Thai central bank said it will inject cash into the financial market if it hit badly by the global mortgage crisis.

The day’s most notable deals involve PTT (216.00 -6%); PTTEP (123.00 -5.4%); BBL (39.00 -3.9%); KBAN (59.50 -4.03%) and SCB (67.00 -2.19%).

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