ID :
199981
Tue, 08/09/2011 - 09:12
Auther :
Shortlink :
http://m.oananews.org//node/199981
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SET to enforce "circuit breaker" if necessary
BANGKOK, August 9 (TNA) - Thai share prices continued plummeting during the trading session on Tuesday morning, in line with those on other stock markets across the region, prompting the Thai stock market to have prepared to employ the "circuit breaker" tool, if necessary.
Triggered by a global worrying spree over the US and the European financial crisis and an over-600-point nose dive of the US Dow Jones industrial average index last night (Asia's time), the Stock Exchange of Thailand (SET) composite index continued to move in its "red" boundary on Tuesday morning, after closing down 38.72 points on Monday, and then plunged further 42.17 points, or more than 3 per cent, to 1,036.02 at 10:16am due to huge sell-offs by investors.
SET President Jaramporn Chotikasatien announced that the Thai bourse has been well-prepared to immediately enforce the "circuit breaker" rule, if necessary to bring the situation under control. Under the "circuit breaker" tool, stock trading is to all-out suspended for 30 minutes, if a stock market index plunged over 10 per cent.
The SET chief acknowledged the vulnerable stock trading across the region, particularly after the US-based Standard & Poor's (S&P), a globally-renowned credit rating agency, recently downgraded the US long term economic potential by one notch to AA+, from AAA, the first time in the history amid its debt crisis and budget shortfalls, warning investors to be more cautious when making any decision on their investment. (TNA)
Triggered by a global worrying spree over the US and the European financial crisis and an over-600-point nose dive of the US Dow Jones industrial average index last night (Asia's time), the Stock Exchange of Thailand (SET) composite index continued to move in its "red" boundary on Tuesday morning, after closing down 38.72 points on Monday, and then plunged further 42.17 points, or more than 3 per cent, to 1,036.02 at 10:16am due to huge sell-offs by investors.
SET President Jaramporn Chotikasatien announced that the Thai bourse has been well-prepared to immediately enforce the "circuit breaker" rule, if necessary to bring the situation under control. Under the "circuit breaker" tool, stock trading is to all-out suspended for 30 minutes, if a stock market index plunged over 10 per cent.
The SET chief acknowledged the vulnerable stock trading across the region, particularly after the US-based Standard & Poor's (S&P), a globally-renowned credit rating agency, recently downgraded the US long term economic potential by one notch to AA+, from AAA, the first time in the history amid its debt crisis and budget shortfalls, warning investors to be more cautious when making any decision on their investment. (TNA)
