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Thai stock index plummets, heading to lowest since 2007

Thai shares plummeted 3.57 per cent at 11.20 am in Thailand time, jerked by Lehman Brothers Holdings Inc's collapse. They headed for its lowest close since Jan. 10, 2007.

The SET index started the day with a sharp drop and heded south further to hit

the day's low at 617.67 before rebounding slightly to 619.44 points.

Banking stocks were the biggest losers. Bangkok Bank (BBL) fell 5.45 per cent at Bt104,

Kasikornbank (KBANK) was off 3.85 per cent at Bt62.50, Siam Commercial Bank (SCB) was down 6.21 per cent at Bt68 and

Bank of Ayudhya (BAY) lost 4.74 per cent at Bt18.10.

Other stock markets in Asia also caught the cold. Hong Kong's Hang Seng slumped 5.6 per cent, Taiwan stock market

sank 4.45 per cent, while other bourses declined in a range of 2-4 per cent.

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