george Posted January 20, 2008 Share Posted January 20, 2008 One election winner: the Stock Exchange BANGKOK: --(TNA) The decision by six political parties to form a coalition government was seen as positive to the Stock Exchange of Thailand (SET) which has been moving with volatility in recent weeks, said a senior official of the Securities Analysts Association (SAA). Sombat Narawutthichai, SAA secretary-general of, said he believed investors on the SET would welcome the announcement by the six political parties to form a coalition government and that the market should rise when it opened on Monday. Leaders and senior executives of the six parties, led by Samak Sundaravej, the leader of the People Power Party which came first in the December 23 general election, told a press conference on Saturday they had agreed to form a coalition administration. Mr. Samak said the cabinet line-up would become clearer in the next 15 days. But Mr. Sombat cautioned the Thai stock market was also impacted by external factors such as the US sub-prime problem, which could cause more damages to the US and other countries’ economies. In an attempt to cushion worries on the brink of recession, US president George W. Bush has announced a stimulus package aimed at reviving the economy, worth about US$140 billion. He also asked Congress to make temporary tax cuts which were scheduled to expire at the end of the decade. Mr. Sombat said people would have to monitor closely whether the package could revive the US economy. He believed the sub-prime crux would impact the US economy and Thailand’s exports to that country. He urged the new Thai government to pay more attention to the SET and help boost liquidity, as there were several types of investors involved in the market now. --TNA 2008-01-20 Link to comment Share on other sites More sharing options...
BigSnake Posted January 21, 2008 Share Posted January 21, 2008 I don't think so my friend. I say wait and see a few months from now. See how Mr Somkad and his pals do buisness for this great Country of Thailand. My guess is it will be HIT and Miss for awhile. I wish them the Best of luck and they will need if for sure. Link to comment Share on other sites More sharing options...
ando Posted January 21, 2008 Share Posted January 21, 2008 Cant see any big investors rushing to sink their money into Thailand while things still look so unstable. Link to comment Share on other sites More sharing options...
thaigene2 Posted January 21, 2008 Share Posted January 21, 2008 Cant see any big investors rushing to sink their money into Thailand while things still look so unstable. Nor me. But I don't think it's the instability of the establisment-versus-populist parties and their lack of stability in a government that worries foreign investors that much - these things happen all over the world, it's the nationalism of foreign investor bashing so prevalent among the PAD anti-thaksin crowd that they are waiting to see what happens to..is it dead? Is it dormant? If PPP falls will it return? Will it return anyway? What about the FBA? My guess is they are also uncertain whether the new PPP-led govt will be any more foreign-biz friendly than the establishment types (regardless of what Abhisit "said"). So it's wait-and-see.. Link to comment Share on other sites More sharing options...
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