SET clarifies with Finance Ministry after stocked plunged over 20 points


BANGKOK, Dec 11 — Stock Exchange of Thailand (SET) managers conferred with Minister of Finance Sommas Phasee today after the Thai bourse tumbled over 20 points earlier this morning, saying that the plunge was due to the declining global index. The agency also advised investors not to panic.

SET Chairman Sathit Limpongpan, together with SET President and committee member Kesara Manchusree called on Mr Sommai earlier today, to explain why the Thai stock exchange has dwindled by over 20 points during the first part of today, which also represented a continued decline since Tuesday.

The economic executives admitted that there are rumours about the reasons for the worsening change, and affirmed that one reason was the falling world stock index, reflected in the lowering global oil price.

SET further advised investors not to panic, as the domestic market could still handle larger fluctuations from the world stock market and that the Thai stock market has good foundations.

The executives gave assurances that the agency would continue to monitor the situation closely and would plan new measures to assist with the situation.

Moreover, there is a high tendency that registered companies’ profits would continue to expand, as the country would also have over Bt250 billion in newly registered stocks in 2016.

SET Chairman Sathit said that Thailand would continue to see an improved domestic economy well into next year, and would like investors to use basic principles to help decide on buying stocks and not overreacting to the rumours circling around at the moment.