Investors flee stocks for gold

Thai shares plunged % to close at points as regional stock markets were shaken by the rising tensions between North Korea and the USA. PATTARAPONG CHATPATTARASILL

Thai shares lost 0.7% yesterday, tracking the global slide, as investors fled to safe havens on mounting tensions between the US and North Korea. The local gold bullion price rose by 150 baht per baht-weight of gold to 20,250 baht per baht weight.

Asian stock markets were a sea of red. The benchmark SET index started the day on a sour note, and the intensified sell-off sent the main bourse to the day's trough of 1,556.22 points before bargain-hunting pared losses. The index settled at 1,561.31 in brisk turnover worth 43.3 billion baht.

The Hang Seng Index was the top loser in the region, slumping 2%, while South Korean shares ended 1.7% lower, the Shanghai Composite Index plummeted 1.6%, Singapore's FTSE Straits Times Index ended down 1.3% -- its biggest percentage loss since October 2016 -- and Indonesia's Jakarta Composite plunged 1%.

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