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| Version 1 | Version 2 |
|---|---|
| Thai equities drop on Bangkok blast | Thai equities drop on Bangkok blast |
| (about 1 hour later) | |
| Share prices in Thailand fell sharply as investors reacted to the deadly bomb blast in Bangkok. | Share prices in Thailand fell sharply as investors reacted to the deadly bomb blast in Bangkok. |
| The benchmark SET index fell sharply before recovering slightly, but in late trade it was down 2.9%. | The benchmark SET index fell sharply before recovering slightly, but in late trade it was down 2.9%. |
| The Thai government described the attack as an attempt to destroy the economy. | The Thai government described the attack as an attempt to destroy the economy. |
| Shares from tourism-related firms were the hardest hit, with hoteliers such as Erawan Group, Minor International and Central Plaza down more than 10%. | Shares from tourism-related firms were the hardest hit, with hoteliers such as Erawan Group, Minor International and Central Plaza down more than 10%. |
| A bomb explosion on Monday evening killed at least 20 people, including eight foreigners, at a Hindu shrine in a part of the Thai capital popular with tourists. | |
| The Thai currency, the baht, also weakened. It shed as much as 0.5%, falling to its lowest against the US dollar in six years. | The Thai currency, the baht, also weakened. It shed as much as 0.5%, falling to its lowest against the US dollar in six years. |
| The baht has been sliding against the strengthening dollar over the past few years, with a particularly steep drop since April 2015. | The baht has been sliding against the strengthening dollar over the past few years, with a particularly steep drop since April 2015. |
| However, Siddharth Mathur, a currency analyst at CitiFX, was wary of linking the drop to the Bangkok blast. | However, Siddharth Mathur, a currency analyst at CitiFX, was wary of linking the drop to the Bangkok blast. |
| He told the BBC that "the fact that the Thai baht has hit another low does not mean that the impact from the unfortunate events of yesterday are significant". | He told the BBC that "the fact that the Thai baht has hit another low does not mean that the impact from the unfortunate events of yesterday are significant". |
| "At the margin, of course this is terrible news - leisure tourist traffic to Bangkok may suffer for a brief period, and consumer/business sentiment in Bangkok may be hurt as well - but this by itself should not materially alter any other underlying economic trends." | "At the margin, of course this is terrible news - leisure tourist traffic to Bangkok may suffer for a brief period, and consumer/business sentiment in Bangkok may be hurt as well - but this by itself should not materially alter any other underlying economic trends." |
| China losses | China losses |
| Chinese equities dropped on Tuesday, setting the negative trend across the region. | Chinese equities dropped on Tuesday, setting the negative trend across the region. |
| The mainland's benchmark Shanghai Composite fell sharply, dropping 6.2% to 3,748.16, while Hong Kong's Hang Seng index closed 1.4% lower at 23,474.97. | The mainland's benchmark Shanghai Composite fell sharply, dropping 6.2% to 3,748.16, while Hong Kong's Hang Seng index closed 1.4% lower at 23,474.97. |
| China's central bank set the yuan's midpoint near Monday's closing price. But the currency edged down a further 0.2% raising fresh concerns that it could fall further. | China's central bank set the yuan's midpoint near Monday's closing price. But the currency edged down a further 0.2% raising fresh concerns that it could fall further. |
| In Japan, the region's biggest market, the Nikkei 225 index closed down 0.3% at 20,554.47, after giving up gains it had made earlier in the day. | In Japan, the region's biggest market, the Nikkei 225 index closed down 0.3% at 20,554.47, after giving up gains it had made earlier in the day. |
| Trader mood was dampened by the weakness across the region and the mixed signals coming out of China. | Trader mood was dampened by the weakness across the region and the mixed signals coming out of China. |
| The benchmark index in South Korea, the Kospi, closed down 0.6% at 1,956.26. | The benchmark index in South Korea, the Kospi, closed down 0.6% at 1,956.26. |
| In Australia, investors were digesting a number of company results. Port and rail operator Asciano saw its shares rally 7% on strong earnings expectations and a buyout offer led by Canada's Brookfield Infrastructure Partners. | In Australia, investors were digesting a number of company results. Port and rail operator Asciano saw its shares rally 7% on strong earnings expectations and a buyout offer led by Canada's Brookfield Infrastructure Partners. |
| Fortescue Metals was the other top performer, with its shares rising 8% on news that the iron miner was contemplating the sale of some of its assets. | Fortescue Metals was the other top performer, with its shares rising 8% on news that the iron miner was contemplating the sale of some of its assets. |
| However, the market overall followed the region's trend into negative territory, with the benchmark S&P/ASX 200 ending the day 0.9% lower at 5,320.50. | However, the market overall followed the region's trend into negative territory, with the benchmark S&P/ASX 200 ending the day 0.9% lower at 5,320.50. |