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%

United States News News

United States United States Latest News,United States United States Headlines

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.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: NST_Online - 🏆 17. / 53 Read more »