The SET Index opened down 24.36 points and closed down 33.43 points, marking a drop of more than 75 points in three trading days.Turnover was Bt53.98 billion.It was the lowest close since June 16's 1,411.19.The market stumbled along with the region in line with Friday's plunge of the United States' Dow Jones Industrial Index, but another reason for the Thai bourse's slide was an internal factor, Finance Minister Apisak Tantivorawong said.Foreign investors were net buyers of Bt3.42 billion, while domestic funds sold off Bt3.29 billion and securities companies' accounts dumped Bt2.06 billion.Retail investors bought Bt1.93 billion.Brokers said the overwhelming retreat from big-cap stocks or blue chips led other stocks to be sold in accordance with stock markets across the world in response to fears over an earlier-than-expected increase in the US Federal Reserve's short-term interest rate.According to Agence France-Presse, Asian and European stocks tumbled, extending last week's global sell-off as comments from top central bankers rang alarm bells on trading floors that the days of cheap money could be numbered.The SET reported that the stock market in August outperformed its peers in Asia with a surge of 20.2 per cent to close at 1,548.44 points.Average daily securities trading rose 63.52 per cent year on year to Bt62.26 billion. Market capitalisation picked up 21.69 per cent to Bt15.3 trillion from end-2015.Foreign investors were net buyers for a fourth month in a row, with a net Bt34.35 billion worth in August.Average derivatives trading rose to 324,606 contracts in August.The SET's market capitalisation gained 21.81 per cent from end-2015 to Bt14.96 trillion, while the market valuation of the Market for Alternative Investment (MAI) advanced 17.11 per cent from end-2015 to Bt378.83 billion.The forward price-to-earnings ratio of the SET was 16.40 times, while the MAI's was 22.43 times.The dividend yield of the SET was 3.11 per cent at the end of the month, while the MAI's was 1.33 per cent.Last month, listed companies raised Bt28.52 billion through equities, with Bt240 million coming from the primary market and Bt28.28 billion from the secondary market.

Source: The Nation Bangkok September 12, 2016 18:00 UTC