BANGKOK : Thai stocks tumbled more than five per cent Monday as fears grew that the country faces further political turmoil after its worst political unrest in almost two decades.
The Stock Exchange of Thailand's composite index dropped 41.37 points, or 5.2 per cent, to 748.29 by early afternoon.
"Political upheaval is driving down the index because there's no end in sight," said Sasikorn Charoensuwan, analyst at Phillip Securities.
Against such an uncertain backdrop, investors were reluctant to buy ahead of the Songkran festival, which celebrates the traditional Thai New Year and starts on Tuesday.
Thailand's anti-government Red Shirts vowed to press on with their bid to overthrow the government following weekend clashes in Bangkok which left 21 people dead and more than 800 injured.
Thailand has been beset by repeated protests by rival red- and yellow-clad protest groups, hitting an economy that sank into recession last year for the first time since 2000 amid a severe global economic crisis.
The Stock Exchange of Thailand's composite index dropped 41.37 points, or 5.2 per cent, to 748.29 by early afternoon.
"Political upheaval is driving down the index because there's no end in sight," said Sasikorn Charoensuwan, analyst at Phillip Securities.
Against such an uncertain backdrop, investors were reluctant to buy ahead of the Songkran festival, which celebrates the traditional Thai New Year and starts on Tuesday.
Thailand's anti-government Red Shirts vowed to press on with their bid to overthrow the government following weekend clashes in Bangkok which left 21 people dead and more than 800 injured.
Thailand has been beset by repeated protests by rival red- and yellow-clad protest groups, hitting an economy that sank into recession last year for the first time since 2000 amid a severe global economic crisis.
