Thai Stocks Biggest Losers in Asia as Protests Spur Swings
This article is for subscribers only.
Thailand’s stocks are falling at the fastest pace in Asia as an amnesty bill for political protesters spurs demonstrations in the streets of Bangkok and threatens to delay the nation’s biggest-ever infrastructure spending plan.
The SET Index, which rose 328 percent from October 2008 to this year’s high on May 21, has since dropped 13 percent through yesterday as shares of Krung Thai Bank Pcl and billionaire Dhanin Chearavanont’s CP All Pcl tumbled. Stock swings in Thailand have almost tripled in the past six months while trading volumes fell 52 percent, the most among 45 emerging and developed markets.