Thai shares down 2.25 per cent on S&P downgrade
By Vasilije Gallak on May 21, 2009 in Asia, Business News, Featured
Bangkok – Thai shares tumbled 2.25 per cent in value late Thursday in response to a Standard & Poor’s downgrade of Britain’s credit outlook, analysts said.
The Stock Exchange of Thailand (SET) index ended at 548.77, down 12.64 points, or 2.25 per cent.
“The market plunged after 4:00 pm on news that S&P had downgraded its ratings of British mortgage-backed bonds,” Adkinson Securities analyst Chaiyudh Jiwangkul said. (dpa)