Foreign Investors Worry About Thai Political Situation

[george]

Foreign investors worry about Thai political situation, says SET chief

BANGKOK: -- Stock Exchange of Thailand (SET) chairman Pakorn Malakul Na Ayudhaya on Thursday conceded foreign investors continued to sell shares in the Thai bourse since they remained worried about the political situation.

Mr. Pakorn said that foreign investors had taken profits with net sales of some Bt15 billion since early this year upon concerns over Thailand's still unresolved political uncertainties.

The investors are paying much attention to political factors. Consequently, he said, should the political headaches be put to rest, investment sentiment in the stock market and secondary markets would turn bullish.

Mr. Pakorn said he was confident that the many problems facing the country at present would finally ease.

He added that some foreign investors sold stocks to shift funds for investments in the secondary market.

In the first quarter of this year, foreign investors had a net buying of debt instruments of more than Bt20 billion against a net sales of Bt36 billion last year.

It demonstrated that investors had actively moved their funds into the secondary market.

"Many analysts believe that the profitability of listed companies has increased with an expected growth of 20 per cent in overall performances this year.

"Also, stock prices in the Thai bourse remain lower than others in the region. These factors will encourage foreign investors to invest in the market," he said.

--TNA 2008-04-04

[sriracha john]

What the SET Boss says seems to run contrary to what Noppadope's spokesman over at the foreign ministry said...

and now that poor Samak has been squirreled away in a hospital.... which is just in time as all the hullabaloo over his "coup" news occured....

but now we have... denials... that EVEN if he DID say these things... it's no big deal...

afterall, nobody listens or cares...... :D

Government affirms foreign countries pay little attention to rumours of coup

Spokesman of the Ministry of Foreign Affairs, Tharit Charungvat, disclosed that foreign countries do not pay attention to the rumors of movements to stage another coup d’tat in Thailand.

Tharit, who is also Director-General of the Information Department of the Foreign Affairs Ministry, says the ministry has received no reports on response of foreign countries, especially the United States, to the premier’s announcement to the public that there are movements to stage a coup.

He said further that the U.S. has neither requested Thailand to clarify the premier’s announcement nor expressed concern over the matter. *probably because they already sorted out early on that he's just a babbling incompetent*

The spokesman says it is not necessary for the ministry to explain the matter to foreign diplomatic missions to Thailand as Army Chief Gen.Anupong Paochinda has strongly dismissed the coup rumors to the public.

- ThaiNews / 3 April 2008

http://www.thaivisa.com/forum/index.php?s=...t&p=1906675

[Meerkat]

What the SET Boss says seems to run contrary to what Noppadope's spokesman over at the foreign ministry said...

Considering that the original article itself states that foreigners have been net buyers of Thai instruments to the tune of THB 5bn (just switching from equities to debt), it would seem that the SET boss is trying to make something out of nothing.

Also considering what we've seen happen in global equity markets over the same period, the SET has done just fine. It's off only half as much as the S&P All Asia index.

Move along please, nothing to see here.

[tominchaam]

The current political situation in Thailand involves a lot of uncertainties. This is likely to have an impact on foreign investors for quite some time to come. Most international investors are today pretty conservative as well - mostly due to the overall economic situation from a global point of you.

[Junglejumbo]

Another coup is inevitable if the current administration stays. The govt is a joke, with Chai Chidchob, and a bunch of other relatives of other banned old TRT MPs, not to mention Chalerm and his sons who've got unelected govt jobs at ministries. If the previous govt. was enough for a coup, then this one being from the same forest, I don't see why there wouldn't be another one, unless perhaps, if the justice system were to put down a heavy hand on Thaksin, but right now the PP are trying hard to scrap the Assets Scrutiny Committee and they've already changed the police cheif. I haven't met anyone in Bangkok who likes them, and having the govt run from HOng Kong in its initial days was an insult to any intelligent Thai.

[Martin]

"....If the previous govt. was enough for a coup, then this one being from the same forest, I don't see why there wouldn't be another one, ..."

As I remember it, the coup didn't occur so much to oust the Thaksin government as to provide the country with some government when PAD (People Against Democracy???) had been hamstringing the Thaksin government for some months.

The situation now is different, and it doesn't seem to me likely that the necessary, supreme approval would be given to a coup in these circumstances as it was then.

[hanibal7]

Investing in one of the most corrupt countries in the world??

do me a favour PLEASE.

[Ricardo]

Foreign investors worry about Thai political situation, says SET chief

BANGKOK: -- Stock Exchange of Thailand (SET) chairman Pakorn Malakul Na Ayudhaya on Thursday conceded foreign investors continued to sell shares in the Thai bourse since they remained worried about the political situation.

Mr. Pakorn said that foreign investors had taken profits with net sales of some Bt15 billion since early this year upon concerns over Thailand's still unresolved political uncertainties.

--TNA 2008-04-04

So it's nothing to do with stock-markets falling world-wide then ?

[Tony Clifton]

Investing in one of the most corrupt countries in the world??

do me a favour PLEASE.

1-China

2-Thailand

3-Philippines

[thaigene2]

I think another coup is very likely. And that's why investors and their high-paid analysts are issuing bail out orders. Remember what happened when the old-family establishment were in the interim government? The letters F-B-A sent a chill down every multi-national coproration. The foreign investors are worried about what happens if the old-famil-anti-internationalists get back in there.. Ledss so about Samak/Thaksin I reckon - and of course they also hate the unknown - money flees that.

[BigSnake]

They very well should be worry, from what we have seen thus far from SAMAK and the Ugly Duckly.

[hansnl]

The current political situation in Thailand involves a lot of uncertainties. This is likely to have an impact on foreign investors for quite some time to come. Most international investors are today pretty conservative as well - mostly due to the overall economic situation from a global point of you.

At night, after a copious meal, I often get a bad dream about the economy in Thailand.

I always dream that the government try to do a very intensive PR-exercise about the economy.

TIT