Thailand’s stock market plunged sharply in the morning session right after the opening bell, pressured by the selloff in Delta Electronics (Thailand) Public Company Limited (SET: DELTA) after the stock exchange put it under the Market Surveillance Measures.
As of 11:14 BKK time on Tuesday, SET Index, Thailand’s main bourse, dropped 15.77 points or 1.01% to 1,541.15 points. The biggest bottom mover is DELTA that saw its share price plunged by 18% to THB96.50 per share. The plummet in DELTA had caused SET Index 22 points or 1.42%.
A surge in the share price of DELTA in recent days has triggered the Market Surveillance Measures by the Stock Exchange of Thailand (SET), resulting in being excluded from Credit Limit and Cash Balance.
DELTA closed on Monday with a gain of 5.38% at THB117.50 per share. Last week it gained 13.77%. While it increased 63% in six months.
The Market Surveillance Measures will be taking effect from 20 June to 10 July 2023.
