Thai stocks fall 5%, poised for worst day since Oct 2011

by **Cals** Tue 11 Jun 2013, 17:00

Thai stocks fall 5%, poised for worst day since Oct 2011
Business & Markets 2013
Written by Reuters
Tuesday, 11 June 2013 16:48

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BANGKOK (June 11): Thailand's benchmark stock index fell more than 5 percent at one stage on Tuesday, part of a regional sell-off after Standard & Poor's revised its outlook for the U.S. sovereign credit rating to "stable" from "negative".

That raised the prospect of an outflow of funds to the United States, out of Southeast Asian stocks.

The main index was down 4.5 percent at 1,460.04 at 0834 GMT. If it stays around that level, the index would have its worst day since October 2011.

Other Southeast Asian stock markets also fell, with Philippine shares down 4.6 percent and Indonesian stocks off 3.8 percent.