BANGKOK -- Myanmar-listed shares fell sharply as soon as the country's main bourse resumed trading on Wednesday, following a two-day suspension, reflecting investor doubts about the Southeast Asian country's economic prospects.
The market swoon comes in the wake of a military coup that began on Monday with the detention of State Councilor Aung San Suu Kyi and other civilian leaders. Investors are concerned that the U.S. and Europe will reimpose economic sanctions on Myanmar, sapping foreign direct investment and slowing growth.
Myanpix, the Yangon Stock Exchange's benchmark index, fell 26.47, or 6%, to 417.25 from its previous close on Jan. 29. That was first time since April 2020 the index has fallen below 420. Wednesday's fall was the largest in percentage terms since March 2017.