India Infoline News Service
The SET Index falls 2.1%, to 264.72 in Bangkok. It is on course for its worst year since the 1997 financial crisis
Stocks in Thailand slumped on Wednesday after anti-government protesters shut Bangkok’s airport for a second day in a row, sparking concerns that political tension could escalate further in the South East Asian country.
The SET Index fell 2.1%, to 264.72 in Bangkok. It has lost 55% since May 25, when the demonstrators first launched protests against Prime Minister Somchai Wongsawat's government. The SET is on course for its worst year since the 1997 financial crisis.
Thai Airways, the nation’s largest carrier, fell 6.4%, set for its sharpest loss since Oct. 24. Laguna Resorts, a hotel operator, sank 18%, heading for its worst day since Sept. 1999. Airports of Thailand, the nation’s largest airport operator, slid 5.6%.
Minor International, the biggest local operator of restaurants and hotel resorts, lost 8.8%, on course for its lowest since December 2005. Erawan Group, a Thai hotel operator, decreased 9.1%, heading for its biggest loss since Oct. 8.
The Baht, Thailand's currency slid to the lowest since Feb. 2007.
Sporadic violence was reported in Bangkok. Two people were reported injured in grenade attacks on Wednesday morning. Clashes between pro and anti-government protesters left 11 people injured Tuesday, according to reports.
Wongsawat appealed for calm on Tuesday, and said that he was considering calling upon the army for assistance in restoring law and order, but pledged not to use force against the anti-government protesters.
Cathay Pacific Airways, Singapore Airlines and other airlines canceled flights to Bangkok and Thai authorities warned that the protest will harm the tourism industry. Tourist arrivals tumbled 17% in September, compared with the prior month’s 0.2% increase.
The Bangkok-based People’s Alliance for Democracy wants Prime Minister Wongsawat to take responsibility for deadly clashes with police last month, raising fears that he may declare a state of emergency to prevent escalating violence.
The premier, set to return today from the Asia-Pacific Economic Cooperation forum in Peru, has rejected the resignation calls and police have avoided using force since the Oct. 7 clash in which two people died and 470 were injured.
The anti-government alliance, which receives support from the country’s royalist elite, is seeking to topple a third prime minister since the 2006 coup that ousted ex-Premier Thaksin Shinawatra.
It accuses the ruling party of buying votes to win elections and of trying to protect Shinawatra, who fled the country to escape corruption charges.
Stocks in Thailand slumped on Wednesday after anti-government protesters shut Bangkok’s airport for a second day in a row, sparking concerns that political tension could escalate further in the South East Asian country.
The SET Index fell 2.1%, to 264.72 in Bangkok. It has lost 55% since May 25, when the demonstrators first launched protests against Prime Minister Somchai Wongsawat's government. The SET is on course for its worst year since the 1997 financial crisis.
Thai Airways, the nation’s largest carrier, fell 6.4%, set for its sharpest loss since Oct. 24. Laguna Resorts, a hotel operator, sank 18%, heading for its worst day since Sept. 1999. Airports of Thailand, the nation’s largest airport operator, slid 5.6%.
Minor International, the biggest local operator of restaurants and hotel resorts, lost 8.8%, on course for its lowest since December 2005. Erawan Group, a Thai hotel operator, decreased 9.1%, heading for its biggest loss since Oct. 8.
The Baht, Thailand's currency slid to the lowest since Feb. 2007.
Sporadic violence was reported in Bangkok. Two people were reported injured in grenade attacks on Wednesday morning. Clashes between pro and anti-government protesters left 11 people injured Tuesday, according to reports.
Wongsawat appealed for calm on Tuesday, and said that he was considering calling upon the army for assistance in restoring law and order, but pledged not to use force against the anti-government protesters.
Cathay Pacific Airways, Singapore Airlines and other airlines canceled flights to Bangkok and Thai authorities warned that the protest will harm the tourism industry. Tourist arrivals tumbled 17% in September, compared with the prior month’s 0.2% increase.
The Bangkok-based People’s Alliance for Democracy wants Prime Minister Wongsawat to take responsibility for deadly clashes with police last month, raising fears that he may declare a state of emergency to prevent escalating violence.
The premier, set to return today from the Asia-Pacific Economic Cooperation forum in Peru, has rejected the resignation calls and police have avoided using force since the Oct. 7 clash in which two people died and 470 were injured.
The anti-government alliance, which receives support from the country’s royalist elite, is seeking to topple a third prime minister since the 2006 coup that ousted ex-Premier Thaksin Shinawatra.
It accuses the ruling party of buying votes to win elections and of trying to protect Shinawatra, who fled the country to escape corruption charges.
YAB HEUY THAI
ReplyDeleteWishing more confusions and chaotic for Thailand. Let’s be war among the arrogant Thais and suffering like Khmers has gone through. SAB BAY CHHAI LEUY.
ReplyDelete