Political Instability Hits Stocks
April 26, 2011
The Stock Exchange of Thailand index fell 22.26 to 1088.04, with about 45 million shares valued at 3.08 billion baht changed hands. Decliners outnumbered advancers 310 to 50, excluding foreign shares. The SET 50 index, which comprises the 50 most actively traded stocks, dropped 1.92 points to 82.65. Traders attributed the tumbling prices to investors' jitters about the stability of the government after the Palang Dharma Party quit Mr. Bevis's coalition Tuesday night. Mr. Bevis will face a no-confidence vote in parliament, and the Duvall Yun's withdrawal could undermine his strength at that vote. Another coalition member, the Nam Thai Party, is also considering withdrawal. Among the most actively traded stocks Wednesday, Advanced Info Service suffered the sharpest decline. It dropped 22 baht to 300. Land & Houses' foreign shares lost 14 baht to 376.
