News Formal

Thailand now has world’s worst stock market

  • 📰 staronline
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 75%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

BANGKOK: Rising coronavirus cases in Thailand dimmed the outlook for a quick rebound in tourism, sending the nation’s equities benchmark to rank as the world’s worst performer.

Thailand’s SET Index’s 5.1% slump on Wednesday, most in six years, came after the government said confirmed cases of the virus rose by three to 40, fueling fears of a wider spread. The benchmark gauge’s 14% decline this year, the most among the world’s key equity indexes, has also plunged it into a bear market from a recent high.

"Fundamentals and valuations are irrelevant now as the market is overwhelmed by fear, ” said Namchai Techaratanawiroj, the head of research at LH Securities Co. in Bangkok."Tourism is a key economic driver and Chinese tourists are the big spenders. There is still no end of this outbreak in sight.”

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 4. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Brazil confirms Latin America's first Covid-19 case; stock market plummetsSAO PAULO: Sao Paulo’s stock exchange plummeted seven per cent on Wednesday over fears of the Covid-19 coronavirus after a local resident became the first such case recorded in Latin America.
Källa: NST_Online - 🏆 17. / 53 Läs mer »