SINGAPORE/BANGKOK -- Stock markets in Southeast Asia nose-dived Monday, with some energy stocks losing a third of their value after oil prices plummeted, worsening a slump already triggered by the coronavirus outbreak.
Thailand's benchmark SET index plunged 8% as energy-related shares suffered severe selling after Saudi Arabia said it would increase oil production to drive Russia and the U.S. out of the market, spurring fears of a price war. Benchmark Brent oil contract prices were off 22% Monday.
