Thai SET in free-fall triggers circuit breaker

Thai stock exchange nosedived on Thursday morning after the World Health Orghanization declared a global Covid-19 pandemic and the US banned the entry of travellers from mainland Europe.

The Stock Exchange of Thailand (SET) index plunged more than 10% triggering phase one of an automatic circuit breaker for 30 minutes.

The first stage occurs if the SET index falls by 10% from the previous day’s close. All trading in listed securities is halted for 30 minutes.

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The second stage occurs if the index falls by 20%, or another 10%, from the previous day’s close. Trading in all listed securities is halted for one hour.