Stock Exchange Of Thailand Nose-dives

[george]

SET nose-dives in tandem with regional markets

BANGKOK: -- The Stock Exchange of Thailand's composite index nose-dived by more than 10 points at the opening bell of Wednesday's morning trading session in tandem with other stock markets in Asia upon renewed concern over the sub-prime lending woes in the United States.

However, the index recouped its loss later and managed to close at 781.89, down 6.32 points or 0.83 per cent, with a thin trading value of Bt6.84 billion in morning trading.

An analyst said the index had dropped in parallel with those of neighbouring countries due to renewed worries over the sub-prime mortgage problems after there are some opinions that the US Federal Reserve might not cut the Fed fund rate at the upcoming meeting.

"Some analysts in the US market remain uncertain about the direction of the sub-prime lending problems and the interest rate. So," said the analyst, "it put the Dow Jones Industry Average in tatters."

The analyst projected the Bank of Thailand's Monetary Policy Committee would decide to cut the short-term interest rate at its meeting on Wednesday.

"It is likely MPC will reduce the interest rate in a bid to stimulate the economy. Progress in the deliberation of the Deposit Insurance Institute Bill will make financial institutions, particularly small banks, attempt to survive by increasing deposit rates to narrow spread."

--TNA 2007-08-29

[samran]

and towards the end of the same day, it has regained most, if not all lost ground.

[A_Traveller]

OK may I ask a daft question here, when is official open and close for the SET and does it still close for lunch ?

Haven't traded it for 10 years, it's was then and is even more so now a casino, not a capital market.

Regards

PS Samran, looking at the SET site it appears that {depending on the answer to above} upward movement continued after the close

/edit typo//

Edited August 29, 2007 by A_Traveller

[lannarebirth]

Reactions like this are one of the reasons that the global correction may be deeper than is now appreciated. Movements of 1% are not nosedives, and central banks need not be called in when normal market corrections take place. Inappropriate hyberbole and actions lead to a sense of complacency by investors, which usually comes with an unhappy ending.

[samran]

OK may I ask a daft question here, when is official open and close for the SET and does it still close for lunch ?

Haven't traded it for 10 years, it's was then and is even more so now a casino, not a capital market.

Regards

PS Samran, looking at the SET site it appears that {depending on the answer to above} upward movement continued after the close

/edit typo//

yeah, it still closes for lunch! 10am to 5.30pm are the times.

For Thai's it is still a bit of a casino. But there are some serious companies listed there who don't see it in their interest for the shares to be the subject huge fluctuations, so actively court foreign fund managers quite successfully.

I'm not hugely into it, but have three or four picks there which I keep a close eye on and who have done very well for me over the past 6 months.

I don't profess to be an expert, and it is more a learning experience for me than anything else. Most of my savings goes into a mortgage and my superannuation fund which is proffessionally managed.

[samran]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

[A_Traveller]

Thanks for the reply. Agree there are some key stocks which use the SET as it is designed, but then there's the rest

Regards

/edit PS Does it not seem curious that TNA would issue a release re close at least 90 minutes before it? //

Edited August 29, 2007 by A_Traveller

[Hampstead]

the closing time is 4.30 pm, but the set has introduced a new system called automatic closing, where an order can be placed for the automated close of the day

this means that at 4.30 the official close price of a stock can show one price and 15 mins later, once all the ac's are calcualted , can then show a different price, which will be the official close price of that stock for the day

[midas]

Samran, what is your opinion as to how the SET is likely to

cope with the introduction of brand new options trading at the end of October?

Justice as a matter interest I have registered for a seminar which they are

going to hold in September. I have done quite a bit of options trading

in Sydney on blue-chip stocks - News Corp., BHP Billiton etc

What's novel about SET is that the options won't be written for individual

stocks - only for the entire SET 50.

This will be a new experience even for many brokers in Thailand.

it will be interesting to see if the market in these derivatives will run

smoothly

[samran]

Samran, what is your opinion as to how the SET is likely to

cope with the introduction of brand new options trading at the end of October?

Justice as a matter interest I have registered for a seminar which they are

going to hold in September. I have done quite a bit of options trading

in Sydney on blue-chip stocks - News Corp., BHP Billiton etc

What's novel about SET is that the options won't be written for individual

stocks - only for the entire SET 50.

This will be a new experience even for many brokers in Thailand.

it will be interesting to see if the market in these derivatives will run

smoothly

No idea, to be honest, I'm not that financially sophisticated!! But I assume it is a good way for people to hedge their risk....this can only be a positive thing if done properly.

I do know an Amercian chap who is a sometime advisor to the SET. Been meaning to catch up with him for coffee, so I might drop him a line.

[highdiver]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

yep... its a speulators market at least here in TV.

[Carmine6]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

Where's the SET Soars headline?

Showing up 14.8 to 806.38 right now.

[palm]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

yep... its a speulators market at least here in TV.

So painfully true highdiver

The market is up (its ok it will bust again soon), its down (disaster!), its down more (more disaster!), it up now (still a disaster!). No its definitely up again (must be a Thai fraud).

One's thing for sure; if you invest your pennies on the advice of many of the anti-Thailand TV posters in here, you too will soon end up as poor and misguided as them.

[highdiver]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

yep... its a speulators market at least here in TV.

So painfully true highdiver

The market is up (its ok it will bust again soon), its down (disaster!), its down more (more disaster!), it up now (still a disaster!). No its definitely up again (must be a Thai fraud).

One's thing for sure; if you invest your pennies on the advice of many of the anti-Thailand TV posters in here, you too will soon end up as poor and misguided as them.

i totaly agree with you.

however i found a great way to invest. its fail proof.

every time the dooms day brigade posts Anti Thailand posts on how economy is going down its time to buy as it will go up.

[TAWP]

The newsclip is from TNA, not TV...

[samran]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

yep... its a speulators market at least here in TV.

So painfully true highdiver

The market is up (its ok it will bust again soon), its down (disaster!), its down more (more disaster!), it up now (still a disaster!). No its definitely up again (must be a Thai fraud).

One's thing for sure; if you invest your pennies on the advice of many of the anti-Thailand TV posters in here, you too will soon end up as poor and misguided as them.

i totaly agree with you.

however i found a great way to invest. its fail proof.

every time the dooms day brigade posts Anti Thailand posts on how economy is going down its time to buy as it will go up.

actually, as far as 'fool proof, sure bet' investing formula's go, I think you may be onto something. Bingoboingo, JR Texas et al. where are you fellas? Is it all going to come collapsing down? Let me know and I'll send a buy order to my broker...

[PeaceBlondie]

Now, just wait for Monday morning, folks. You know, from reading ThaiVisa, that the latest anti-farang notice by the Immigration Police is going to cause a 10% dip in the SET because the entire economic future of the kingdom is riding on those retired farang who are leaving the country so fast that their buses at Suvanaphum are colliding with Airbuses even as I write this....

[samran]

Now, just wait for Monday morning, folks. You know, from reading ThaiVisa, that the latest anti-farang notice by the Immigration Police is going to cause a 10% dip in the SET because the entire economic future of the kingdom is riding on those retired farang who are leaving the country so fast that their buses at Suvanaphum are colliding with Airbuses even as I write this....

no doubt on one way tickets to Cambodia where they can mix with the sophisticates of the Cambodian Stock Exchange.....um, hold on, does Cambodia have a stock exchange???

No problem, just speak to Mrs Hun Sen, owner of anything worth owning in Cambodia. She'll set you straight.

[Donnyboy]

im still bullish about the SET but am still cautious at the same time. Im taking a step by step approach and not rushing in at once, although the SET is still cheap in the low 800s.

im still a bunny in experience in the stockmarket, but am wanting to be in for the long term, thus buying good stocks with an attractive p/e and yeilds. These ones are often over looked.

But amazingly, most people would rather gamble on ones that dont make money now or ever.

Casino mentality? you bet

[Firefan]

He,he - we could call it the "TV-Indicator" (TVI) - problem is that with the many whiners (probably living of a pension and not having a dime in any market anyway) I seem to be getting too many buy signals!

Cheers!

[LaoPo]

actually, the SET closed in the positive today, up 3.83 points.

There goes this news clipping!

Exactly.

So why follow up on this absurd 'news' in the first place ?

George posted this article, "SET Nose-dives..", written by a stupid reporter who publishes sensational news which wasn't sensational at all.

His [reporter] responsible editor should have stopped the headline or alter it since a drop of a mere 10 points can't be considered as a nose-dive.

10%...? yes, than it could be called a nose-dive...maybe, depending on the circumstances.

Let's close this topic...

LaoPo

Edited September 1, 2007 by LaoPo

[fiddlehead]

I often wonder when a topic starts getting good, someone on thai visa wants it closed?????????

I'm definitely missing something.

Anyway, was going to put in my 2 cents before it gets closed.

I've been in an investment club in the USA for years before moving here.

Before i got into making investment (stocks) decisions with 11 other people, i lost money in the stock market as i was into those stocks that are cheap with great hopes of them rising "thru the roof" to no avail.

Once the stock club got rolling, we had our conservatives and our liberals working together and lo and behold we made a profit.

I learned to buy good companies that you believe in and hold them. (Seemed the ones we sold at a profit, continued to go up)

Now, i realize this sounds easy to do, but it's really not as there are so many choices out there.

So, now, i've just opened an account with Kim Eng and am going to buy some Thai bank stock. (i won't say which one for fear of perhaps getting the thread closed down or something)

thanks for keeping this open long enough to get my message out.

[LaoPo]

I often wonder when a topic starts getting good, someone on thai visa wants it closed?????????

I'm definitely missing something.

Anyway, was going to put in my 2 cents before it gets closed.

I've been in an investment club in the USA for years before moving here.

Before i got into making investment (stocks) decisions with 11 other people, i lost money in the stock market as i was into those stocks that are cheap with great hopes of them rising "thru the roof" to no avail.

Once the stock club got rolling, we had our conservatives and our liberals working together and lo and behold we made a profit.

I learned to buy good companies that you believe in and hold them. (Seemed the ones we sold at a profit, continued to go up)

Now, i realize this sounds easy to do, but it's really not as there are so many choices out there.

So, now, i've just opened an account with Kim Eng and am going to buy some Thai bank stock. (i won't say which one for fear of perhaps getting the thread closed down or something)

thanks for keeping this open long enough to get my message out.

Didn't you see my ?

Wish you good investing, but if banks (at this stage) are a good bet...I don't know, since I feel the bottom isn't there, yet.

But, up to you of course.

LaoPo

[Carmine6]

I often wonder when a topic starts getting good, someone on thai visa wants it closed?????????

I'm definitely missing something.

Anyway, was going to put in my 2 cents before it gets closed.

I've been in an investment club in the USA for years before moving here.

Before i got into making investment (stocks) decisions with 11 other people, i lost money in the stock market as i was into those stocks that are cheap with great hopes of them rising "thru the roof" to no avail.

Once the stock club got rolling, we had our conservatives and our liberals working together and lo and behold we made a profit.

I learned to buy good companies that you believe in and hold them. (Seemed the ones we sold at a profit, continued to go up)

Now, i realize this sounds easy to do, but it's really not as there are so many choices out there.

So, now, i've just opened an account with Kim Eng and am going to buy some Thai bank stock. (i won't say which one for fear of perhaps getting the thread closed down or something)

thanks for keeping this open long enough to get my message out.

Didn't you see my ?

Wish you good investing, but if banks (at this stage) are a good bet...I don't know, since I feel the bottom isn't there, yet.

But, up to you of course.

LaoPo

LaoPo, what bottom are you referring to? Are you expecting a wave of bad loans and credit card debt? Or a bottom on the SET?

[LaoPo]

I often wonder when a topic starts getting good, someone on thai visa wants it closed?????????

I'm definitely missing something.

Anyway, was going to put in my 2 cents before it gets closed.

I've been in an investment club in the USA for years before moving here.

Before i got into making investment (stocks) decisions with 11 other people, i lost money in the stock market as i was into those stocks that are cheap with great hopes of them rising "thru the roof" to no avail.

Once the stock club got rolling, we had our conservatives and our liberals working together and lo and behold we made a profit.

I learned to buy good companies that you believe in and hold them. (Seemed the ones we sold at a profit, continued to go up)

Now, i realize this sounds easy to do, but it's really not as there are so many choices out there.

So, now, i've just opened an account with Kim Eng and am going to buy some Thai bank stock. (i won't say which one for fear of perhaps getting the thread closed down or something)

thanks for keeping this open long enough to get my message out.

Didn't you see my ?

Wish you good investing, but if banks (at this stage) are a good bet...I don't know, since I feel the bottom isn't there, yet.

But, up to you of course.

LaoPo

LaoPo, what bottom are you referring to? Are you expecting a wave of bad loans and credit card debt? Or a bottom on the SET?

Bank stocks in general. The banking sector is very fragile at the moment, worldwide, but, to be honest I don't know whether Thai Banks will be hurt also.

Personally, I wouldn't touch any bank stock at the moment since it is unsure what's still ahead in the financial and mortgage industry.

There are still bad loans and subprime problems all around the world (and as you mentioned, Credit Card debts) which haven't been 'declared' by the banks involved or being tried to cover up.

It will take at least 3-6 months before the financial world will know exactly where it stands, and thus the Bank stocks, any Bank stock are/is risky.

The comforting words from GWB and Bernanke will probably send bank stocks up, for a short while, until fresh news hurt the stocks again. A possible rate cut by the FED could also help the bank stocks up but I'm not sure if the problems are solved by such a step...It's like taking an Aspirine against headache, but where does the headache come from ?

Apart from that most Bank stocks do not move up, or down, in large steps, they never did, incidental moves set aside (mergers) and don't bring big profits.

It's an investment for the long term and I'm not a long term investor, no excitement...

But, that's my own personal view and I could be wrong (read my signature by George Soros)

LaoPo

[mesohappy314]

short term investing ~ gambling

[fiddlehead]

short term investing ~ gambling

That is precisely the point I was trying to make with my above post.

I lost a lot of money trying to buy the upstarts and cheap stocks.

I got in an investment club and learned that we made the most money when we bought things like Toyota and Exxon and Gold and Banks.

So, i believe Thai banks make a good bit of money. I mean: where else to they charge you a fee when you make a deposit?