Business News
Thai stocks sink on flood worries
Oct 20, 2011, 11:52 GMT
Bangkok - Thai shares fell 3.1 per cent Thursday on concerns floodwaters could flow into Bangkok, the political and financial capital of the country.
The Stock Exchange of Thailand index ended at 909.1, down 29.09 points after falling 1.53 per cent Wednesday.
Investors were jittery that floods that have put a third of the country's provinces at least partly underwater and killed 320 people would flow into Bangkok, said Chaiyodh Jiwangkul, an analyst at Country Group Securities Pcl, a Bangkok-based broker.
'If Bangkok is flooded, it will mean huge damage to the economy,' he said.
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