Thailand now has world’s worst stock market

File pic: Chinese tourists wear masks as they arrive at Suvarnabhumi Airport during a welcome ceremony of Chinese Lunar New Year travellers in Bangkok, Thailand January 22, 2020. REUTERS/Soe Zeya Tun

BANGKOK: Rising coronavirus cases in Thailand dimmed the outlook for a quick rebound in tourism, sending the nation’s equities benchmark to rank as the world’s worst performer.

Thailand’s SET Index’s 5.1% slump on Wednesday, most in six years, came after the government said confirmed cases of the virus rose by three to 40, fueling fears of a wider spread. The benchmark gauge’s 14% decline this year, the most among the world’s key equity indexes, has also plunged it into a bear market from a recent high.