04.03.202606:21:40UTC+00Thai Stocks Plunge 8%

Thailand’s SET 50 Index tumbled 8% to around 900 points on Wednesday, marking a four-week low, as escalating conflict in the Middle East unleashed a sharp risk-off wave across Asian markets. The steep decline triggered a 30-minute trading halt on the Stock Exchange of Thailand, under rules that mandate an additional suspension if losses widen to 15%. Investor anxiety is mounting over the length and economic impact of the Iran war, particularly for Thailand, one of the region’s most energy import-dependent economies, while the prospect of airspace disruptions threatens the country’s crucial tourism industry. The selloff has effectively wiped out the nearly 14% rally that followed Prime Minister Charnvirakul’s decisive election victory last month. Losses were further exacerbated by unwinding in AI-related stocks, with Delta Electronics sliding 12.7% and ranking among the heaviest drags. Other major decliners included blue chips such as Gulf Development and Airports of Thailand, each down by roughly 10%.