"The Thai stock market tumbled by 2.31 per cent when it was opened for trading Thursday morning.
The composite index of the Stock Exchange of Thailand fell 17.91 points to 756.01 with the turnover value of B1.21 billion at 10 am. The blue chip SET 50 index fell by 15.27 or 2.73 per cent to 533.2."
http://www.nationmultimedia.com/breakingne...newsid=30045226
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"New York - US stocks tumbled Wednesday for a second day, wiping out this year's gains as investors worried that the nation's home-mortgage crisis will worsen further.
Shares of Countrywide Financial Corp, the biggest US mortgage lender, slid 13 per cent on the New York Stock Exchange after Merrill Lynch analysts said Countrywide could go bankrupt if creditors force it to sell assets at depressed prices.
"Feels like we're on the edge of a panic to me," Jeffrey Saut, chief investment strategist at Raymond James & Associates in Saint Petersburg, Florida, told the Bloomberg financial news agency. "In our business, psychology is everything and psychology has changed real quick on Wall Street," he said.
The Standard & Poor's 500 Index lost 19.84 points, or 1.4 per cent, to 1,406.70, erasing its 2007 gains. The blue-chip Dow Jones Industrial Average slid 167.45, or 1.3 per cent, to 12,861.47, closing below 13,000 for the first time since April. The technology-heavy Nasdaq Composite Index tumbled 40.29, or 1.6 per cent, to 2,458.83."
http://www.nationmultimedia.com/2007/08/16...ss_30045220.php
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SET continues to drop
Started by BORG, Aug 16 2007 11:10 AM
1 reply to this topic
#2
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Posted 16 August 2007 - 11:28 AM
I found it amusing when the Thai authorities kept insisting that Thailand's markets would not be affected when these sub-prime mortgage problems began worsening in the US markets. Now, the SET can't seem to find a bottom. I wonder what they thought ight happen if all those international buyers, who were driving the SET up, decided to sell and flee to cash.
