SET claws back from 6.9% drop
Renewed anxiety over domestic factors sent Thai stocks into a tailspin, plunging 6.9% at one point Wednesday, as the baht headed for its steepest drop in four months. The SET index extended its sharp decline since Monday after starting the day on a sour note. The selling spree intensified once the afternoon trading session began. The main gauge sank by nearly 100 points before bargain hunting kicked in and helped the benchmark index claw back above the 1,400 mark. When the dust settled, Thai shares were down 2.5% at 1,406.18 points, a four-month closing low, in record trade worth 130.15 billion baht. Large-cap stocks were again at the centre of the storm. Airports of Thailand (AOT) dived 24 baht to 356 baht, CP All (CPALL) skidded 75 satang to 59 baht, Kasikornbank (KBANK) plunged three baht to 182 baht, Siam Commercial Bank (SCB) tumbled three baht to 140 baht, and Siam Cement (SCC) shed two baht to close at 498 baht.