Dr. Pakorn Peetathawatchai, President of the Stock Exchange of Thailand (SET), has made a statement after the morning session on March 12, 2020, regarding the plummet in the stock market by 109.84 points, declined 8.79%.
In the statement, Dr. Pakorn stated that when looking at the Block Trade and Short-Sell board, both volume and value maintained at the same level which reflected that the decline in the stock market in today’s session was due to negative sentiment from Wall Street, European markets over the night and regional markets in today’s sessions.
Dr. Pakorn also stated that the SET will issue remedial measures for listed companies, security companies and custodians. The measures will focus on lowering fees.
Moreover, Dr. Pakorn pointed that currently the P/E and P/BV of Thai stocks had declined to the point that could be invested in for long-term earnings.
In addition, regarding the rebalancing of FTSE and MSCI, Dr. Pakorn expected listed Thai stocks in both indexes to have limited impact as stocks from other countries also took an impact from the crisis as well.