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Thai stocks drop most since 2016 on China ban on group tours

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BANGKOK: Thailand’s stock market tumbled on Monday (Jan 27) with the prospect of economic turbulence after China banned outbound group tours to fight the spread of the novel coronavirus that’s sickened thousands of people.

The SET index slid 2.9% on Monday, the most since 2016, with tourism shares among those bearing the brunt of the drop. The baht weakened in line with emerging-market currencies on concern about the fallout from the virus.

Airports of Thailand Pcl, a bellwether for the tourism sector, declined 3.9%, the most since May last year. The Tourism & Leisure equity index fell to the lowest level in six years. The new coronavirus originated in China, where dozens have died from the illness. Many nations have diagnosed the infection in travelers from China.

 

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Most the Asean markets unrecoverable much in 2020 even Malaysia!

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Tourism stocks stoke Thai slump on China ban on group toursBANGKOK: Thailand’s stock market tumbled Monday on the prospect of economic turbulence after China banned outbound group tours to fight the spread of the novel coronavirus that’s sickened thousands of people. XHNews PDChina ChinaDaily please come and visit malaysia, malaysia government allows china tourist to come 😊 pakatanharapan_ chedetofficial drwanazizah anwaribrahim guanenglim limkitsiang MSabu_Official
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