Trading on the Stock Exchange of Thailand was halted within seconds after the market opened up on Friday as the SET Index fell by 10% which triggered the 2nd circuit breaker shut down for the 2nd time in as many days.
The SET Index dropped by 111.52 points within seconds after it opened to stand at 1,003.39 points down exactly 10% triggering the automatic measure.
The measures are meant to give the market breathing space to avoid any panic selling.
The SET will open for trading again in 30 minutes.
Analysts feel that the breach of the 1,000 points of the SET Index could trigger more selling as investors fear for the worse going forward.
The selling spree on the SET follows the global sell-off seen yesterday where the Dow Jones dipped by 10%, putting the Dow Jones back to its mid-2017 levels.
Global markets have been reeling from the impact of the COVID-19 which has started to take a major toll on all countries with many shutting all operations as the outbreak continues to spread.