NUNTAWUN POLKUAMDEE
Bangkok Post
Thai shares fell 1.68% yesterday as investors retreated to the sidelines over political uncertainties as a number of key court cases will be decided over the next several weeks.
The Stock Exchange of Thailand index closed at 730.56 points, down 12.47, in thin trade worth 9.6 billion baht, about half the daily average for the year. Energy stocks lost 2.82%, property 1.91% and banks 1.04%.
The Supreme Court today will announce whether Yongyuth Tiyapairat, a senior People Power Party official, committed election fraud during last December's campaign. A guilty verdict could set the stage for the PPP to be dissolved and its senior executives banned from political activity, a penalty similar to that given to the former Thai Rak Thai party last year.
The Constitutional Court is also expected to rule today whether Foreign Minister Noppadon Pattama violated the constitution regarding a communiqué signed with Cambodia dealing with the Preah Vihear temple.
As well, Finance Minister Surapong Suebwonglee and two other cabinet members could be forced to leave the cabinet over the next few weeks for their involvement in the decision by Thaksin Shinawatra's government to approve the two- and three-digit lottery programme. The Supreme Court could accept the case lodged by the Assets Examination Committee as early as next week, which would force the three ministers to vacate office under current law.
''The overall political environment is not very good,'' said Kosin Sripaiboon, a senior vice-president at UOB Kay Hian Securities.
''The anti-government protests under the People's Alliance for Democracy are also expected to continue, and the government has yet to announce any clear plans to reshuffle the cabinet. Investors are just getting out of the market in favour of cash.''
Mr Kosin said the market could fall to as low as 680 to 700 points this month.
Ronnakrit Sarinwong, research head at Adkinson Securities, agreed that politics would dominate the market, but said even if Mr Yongyuth was given a ''red card'' for election fraud, it would take more time before this leads to a PPP ban.
''I think we could see the market rebound next week as companies begin to announce second quarter and first half results. The banking sector is expected to announce strong results,'' he said.
The Stock Exchange of Thailand index closed at 730.56 points, down 12.47, in thin trade worth 9.6 billion baht, about half the daily average for the year. Energy stocks lost 2.82%, property 1.91% and banks 1.04%.
The Supreme Court today will announce whether Yongyuth Tiyapairat, a senior People Power Party official, committed election fraud during last December's campaign. A guilty verdict could set the stage for the PPP to be dissolved and its senior executives banned from political activity, a penalty similar to that given to the former Thai Rak Thai party last year.
The Constitutional Court is also expected to rule today whether Foreign Minister Noppadon Pattama violated the constitution regarding a communiqué signed with Cambodia dealing with the Preah Vihear temple.
As well, Finance Minister Surapong Suebwonglee and two other cabinet members could be forced to leave the cabinet over the next few weeks for their involvement in the decision by Thaksin Shinawatra's government to approve the two- and three-digit lottery programme. The Supreme Court could accept the case lodged by the Assets Examination Committee as early as next week, which would force the three ministers to vacate office under current law.
''The overall political environment is not very good,'' said Kosin Sripaiboon, a senior vice-president at UOB Kay Hian Securities.
''The anti-government protests under the People's Alliance for Democracy are also expected to continue, and the government has yet to announce any clear plans to reshuffle the cabinet. Investors are just getting out of the market in favour of cash.''
Mr Kosin said the market could fall to as low as 680 to 700 points this month.
Ronnakrit Sarinwong, research head at Adkinson Securities, agreed that politics would dominate the market, but said even if Mr Yongyuth was given a ''red card'' for election fraud, it would take more time before this leads to a PPP ban.
''I think we could see the market rebound next week as companies begin to announce second quarter and first half results. The banking sector is expected to announce strong results,'' he said.
12 comments:
Bad luck, Pussycat
This is the punishment of God!!!
Please PDA continue to do the anti-goverment until fall down the Samak's Goverment, Your economy will be drop down !!!
Please Muslim People at the south path continue their struggling to be independent as a new country, we are Malaysian people pleasure to support everything as you need.
Bad stock in Thailand is not good news for Cambodia market.
Sam Neang from Canada said...
Good news and I appriciated a good job Lok Sourn Serey Ratha of CACJE that leads petition and snt his delegation and members of Cambodian United Organization/Association in Abroad to Quebec meeting to advocate and lobby.
Please http://ssrth.files.wordpress.com/2008/07/preah-vihea-petitionof-the-united-cambodians-organization-associations-in-a-broad1.pdf
Sam Neang from Canada
4:01 AM
Ven. Sophal said...
Sure, Lok Sourn Serey Ratha, we are here at abroad waiting to support your action and we will follow you appeal to conduct world wide demontration against Cambodian Embassy in regard to Cambodia cut Dei Khmer 4.6 Square Kilometre to Thai.
Please link to petition at: http://ssrth.files.wordpress.com/2008/07/preah-vihea-petitionof-the-united-cambodians-organization-associations-in-a-broad1.pdf
Thommha Ven. Sophal, from New Zealand
No, it is a good news.
This is a sign that we don't want their products in Cambodia already.
We can live without Thai products just like Sihanouk did back then.
Shame on you Bak Thai!!!!!!!!!!!!!
Up date news
Tonight at 10.00 all of the pagodas in Cambodia, monk will hit the drum to celebrate Preah Vihear temple was list in World Heritage list.
នៅវេលាម៉ោងដប់យប់នេះ នឹងមានការទូងស្គរគ្រប់ទីអារាមទូទាំងព្រះរាជណាចក្រកម្ពុជាដើម្បីអបអរសារទរដែលប្រាសាទព្រះវិហារត្រូវបានចុះបញ្ជីជាបេតិកភ័ណ្ឌពិភពលោក ។
Jayo!
Bravo!
Meathapoum Khmer Dor Rong-Reong!
Khmer Forever!
Cheer!
you siem can't even agree amongst yourselves even though your old and senile king was behind the coup d'etat. what a bunch of animals.
democracy?? in thailand?? the american soldiers fucked you so badly you even believed them.
I was in bangkok the other day, land of prostitutes and ass lickers. only interested in money. sell their own mothers for money.
So don't give us lessons. you thai whore.
Oh ah what bring you son of bitch to congratulate ah Soun Serey ratha in here? Self promoter comes back, oh man. Have you had any shame at all?
ah ratha has to go to take some class and he may learn something how a humble person should be. God damn ah choss k'ourt.
You can try to change the subject, monkey, but the fact remain that you lowlife stole Khmer's lands and temples from Issan Province.
Going down Siam????
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The ugly monkey in Cambodia must returns the temple back to Khmer people in Issan province.
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