Tourism stocks stoke SET slump on China ban on group toursTourists with face maskes arrive at Don Mueang airport on Saturday. (Photo by Apichart Jinakul)The Stock Exchange of Thailand index tumbled Monday on the prospect of economic turbulence after China banned outbound group tours to fight the spread of the novel coronavirus that’s sickened thousands of people. The SET index plunged 45.77 points or 2.92% to 1,523.78, in turnover of 41 billion baht after the morning session, with tourism shares among those bearing the brunt of the drop. Chinese holidaymakers — many on group tours— spent almost US$18 billion (552 billion baht) in Thailand last year, more than a quarter of all foreign tourism receipts, government data show. “The strong Thai baht may also affect tourism growth.

Source: Bangkok Post January 27, 2020 05:48 UTC