Thai stocks plunge 9.61 per cent on closing

BANGKOK, Oct 10 (TNA) - The Stock Exchange of Thailand (SET) composite
index on Friday plunged 9.61 per cent to close at 451.96 points in line with regional markets on investor concerns over the global financial crisis and Thailand's persisting political problems, dealers said.

Total turnover was about Bt16.3 billion.

The SET suspended trade for about half-an-hour shortly after the market
was reopened for the afternoon session when the index plunged 10.02 per
cent following the forced selling of shares, global market meltdown and
local political turbulence.

With an objective to calm investor worries following the warning issued by
the International Monetary Fund on a world recession, SET president
Patareeya Benjapolchai said some of the world bourses fell more than 10
per cent which was almost at the same level as SET.

While the market suspended trading for about 30 minutes, the SET informed
investors on the situations in overseas markets in order to allow
investors to decide what to do next, she said. After SET resumed trading,
the index rebounded slightly afterwards.

Mrs. Patareeya said investors would continue to monitor global situation
as well as local politics next week.

There is still no problem on Thailand's fundamentals and its financial
institutions remain strong, she said, adding that investors should think
hard before making a decision.