Thursday October 16, 2008
NUNTAWUN POLKUAMDEE
MARKETS & FINANCE
Bangkok Post
Thai shares dropped 3.85% yesterday as investors dumped shares over concerns about domestic political risk and armed conflict along the Cambodian border.
The Stock Exchange of Thailand index closed at 481.5 points, down 19.27, in trade worth 17.6 billion baht. The index stayed in positive territory through most of the morning and reached a high of 502.59, but dropped sharply after reports of gunfire and explosions near the disputed Preah Vihear temple.
Foreign investors, who were net buyers of 2.26 billion baht worth of Thai shares during Tuesday's 5.13% upturn, were net sellers of 340 million baht yesterday. Local institutions were net sellers of 730 million baht while retail investors were net buyers of 1.07 billion.
Analysts said weak regional sentiment also was a factor, as most Asian markets ended lower over concerns about third-quarter earnings from US companies and the global economic environment.
Hong Kong lost 5% on the day, while Seoul shed 2% and Singapore lost 3.24%. The declines came after two days of sharp gains after the US government announced it would inject capital directly into banks to stabilise the system.
Wisit Ongpipatkul, an executive director and head of research at Tisco Securities, said investors were waiting to see the quarterly results of the US banks JP Morgan Chase and Citigroup this week for further clues on the extent of the financial damage.
He said investors also remained concerned about domestic political conflicts as the standoff between the government and the People's Alliance for Democracy showed little signs of easing.
The conflict between Thai and Cambodian troops was another negative factor, Mr Wisit said, although the global economy would remained the main driver of short-term trends.
Warut Siwasariyanon, deputy managing director at Finansa Securities, said the Thai economy would inevitably be affected by the global financial crisis.
"I think that for the next six months, we will see heavy volatility in fund flows. But once the situation stabilises, we should see inflows back to Asian emerging markets as the region has suffered relatively less than other parts of the world," he said.
The Stock Exchange of Thailand index closed at 481.5 points, down 19.27, in trade worth 17.6 billion baht. The index stayed in positive territory through most of the morning and reached a high of 502.59, but dropped sharply after reports of gunfire and explosions near the disputed Preah Vihear temple.
Foreign investors, who were net buyers of 2.26 billion baht worth of Thai shares during Tuesday's 5.13% upturn, were net sellers of 340 million baht yesterday. Local institutions were net sellers of 730 million baht while retail investors were net buyers of 1.07 billion.
Analysts said weak regional sentiment also was a factor, as most Asian markets ended lower over concerns about third-quarter earnings from US companies and the global economic environment.
Hong Kong lost 5% on the day, while Seoul shed 2% and Singapore lost 3.24%. The declines came after two days of sharp gains after the US government announced it would inject capital directly into banks to stabilise the system.
Wisit Ongpipatkul, an executive director and head of research at Tisco Securities, said investors were waiting to see the quarterly results of the US banks JP Morgan Chase and Citigroup this week for further clues on the extent of the financial damage.
He said investors also remained concerned about domestic political conflicts as the standoff between the government and the People's Alliance for Democracy showed little signs of easing.
The conflict between Thai and Cambodian troops was another negative factor, Mr Wisit said, although the global economy would remained the main driver of short-term trends.
Warut Siwasariyanon, deputy managing director at Finansa Securities, said the Thai economy would inevitably be affected by the global financial crisis.
"I think that for the next six months, we will see heavy volatility in fund flows. But once the situation stabilises, we should see inflows back to Asian emerging markets as the region has suffered relatively less than other parts of the world," he said.
11 comments:
i'm hoping the thailand index dropped further more in there stock exchange for creating chaos in cambodia territory.
Sure will for creating a climate of inscurity to those investors. In fact, it should drop a long time ago when those A..hole PAD started making trouble, but they were too dumb to notice. They just pick up the message now when the real fire is flying at the border. Oh well, some people just don't mind loosing both their lives and billions in their stocks. It's enjoyable....
Yes, they just love it.
It's the same with the stupid Puttin of Russia went to make trouble with the metal company. Their trade with the value $6 billions went straight down to hell. Go right ahead and cry monkey.
It ain't free for Cambodia either. There won't be any new business coming in when tension in the region is high, not to mention some business is packing up now and get ready to head west to Burma.
Heading west to burma? What are you talking about? It's you stupid thai that needs to head to Burma. Hahahaaha The stupid thai don't even know which east and which west. hahahahhhh you dumb f*ck.
7:49 is definitely on drug.
You stupid motherf*ck thai's geography is going west to Burma! not us. You dumb F*ck.
oops never mind , you were talking about businesses heading west to Burma. Sorry... bud.Hahaahahha
ONLY THE DUMP FUCK LIKE AH SIAM WOULD INVEST IN A PLACE LIKE BURMA. "NO OFFEND BURMA" I LOVE BURMESE PEOPLE. HOWEVER UNTIL AUNG SAN SUJI IS FREED FROM HOUSE ARREST! THEN THE WEST WILL OPEN THEIR DOORS FOR GOODS MADE IN BURMA. ANYWAY, I DON'T THINK THE JUNTA GOV'T OF BURMA WOULD LIKE THE DUMP FUCK SIAM MAKING PROFITS ANYWAY!
WELL KEEP MESS AROUND WITH YOUR NEIGHBORS AND THE MUSLIM SOUTH. THAILAND WILL NOT LIVE IN PEACE IN THE FUTURE.
UNITED WE STAND KHMERS
NYC
Don't hold you breath.
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