Thai shares off to rough start in 2014, regional markets fall

|By:, SA News Editor

The SET Index (THD, TF, TTF) falls 0.5%, adding to Thursday's 5.2% decline — Thursday marked the worst start to a year for the country's equity market in at least two and a half decades.

Thai shares are now trading at around 10.5X forward earnings, which is the cheapest they've been since the summer of 2012.

"Market sentiment is very weak with no foreseeable solution on the current political deadlock in the near future,” the CIO of the country's largest private money manager tells Bloomberg.

In other regional action, Indonesian shares (IDX, IDXJ, EIDO) are lower by 1.6% and stocks in Malaysia (EWM) fall nearly 1%.