Thai stocks fall more than 4pc to 1-year low

BANGKOK: Thai stocks fell more than 4 percent to a one-year low on Monday, led by big-cap energy and bank shares, as investors further cut their exposures to risk assets due to fears of a global recession and the deepening euro zone debt crisis.

By 0340 GMT, the SET index was down 4.3 percent at 916.57, the lowest since September 2010.

The biggest energy firm, PTT , dropped 4.1 percent to 278 baht while top lender Bangkok Bank dropped 3.8 percent to 140 baht.

Bangkok-based dealers said the sell-off was led by foreign funds.

Southeast Asian stocks fell across the board, with Philippine shares down 4.2 percent and Malaysian stocks down 2.4 percent.