Thailand’s SET Index closed at 1,404.97 points, decreased 6.80 points or 0.48% with a trading value of 49.7 billion baht. The analyst stated that the Thai stock market underperformed regional markets in the morning session after the report of China returning to deflation, which also beat expectations. Negative sentiment came from the retail sector due to weak earnings results and TRUE inability to sell all of its debentures also impacted investors confidence. The market pared some losses in the afternoon session after the SEC announced that it will join the Stock Exchange to clarify the situation in the market.
The share price of JKN Global Group Public Company Limited (SET: JKN) hit the limit down on Thursday after the company announced a rehabilitation plan.
JKN dropped as much as 30% right after the opening bell on Thursday as investors panicked on the sudden announcement from the company, which stated that it has filed a petition for business rehabilitation and nominated a planner to the Central Bankruptcy Court.
This ended JKN’s 7-day winning streak that saw its price rise 21%.
China slipped back into deflation in October, a sign showing that domestic demand remains sluggish even after recent stimulus efforts to shore up growth.
China’s Consumer Price Index fell 0.2% YoY in October, compared to an expectation of 0.1% drop and no change in September.
Producer Price Index fell 2.6%YoY last month, compared to 2.6% drop expected and a 2.5% drop in September.
