Thai stocks tumble as China virus adds to economic woes [Reuters]
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Source: Reuters
Thai stocks tumble as China virus adds to economic woes * Main stock index hit lowest level in more than 3 years * Chinese visitor numbers could fall 90% per month - council * Deputy PM says virus impact short term, econ fundamentals good By Orathai Sriring and Satawasin Staporncharnchai BANGKOK, Jan 27 (Reuters) - Thailand’s stocks market slumped on Monday amid concern China’s ban on all group tours would damage Thailand’s vital tourist industry, adding to the problems of a struggling economy. Tourism is a key driver of Thai growth and a bright spot in Southeast Asia’s second-largest economy, which is growing at its slowest pace in years. Chinese tourists are Thailand’s biggest source of visitors. The main Thai stock index slid as much as 3% to its lowest in more than three years, with Airports of Thailand down as much as 6% to a more than seven-month low, and Minor International sliding as much as 9%. The baht eased to a five-month low. “It’s a combination of factors,” said Natapon
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