Thai Stock Index Plummets, Hits lowest since 2003

[gobs]

Hi,

I'm not for far an ace in trading, but this thread is interesting from my point of view.

Please can you explain a little deeper "FREE FLOAT" and "XX% SHARES NOT PUBLICLY TRADED"?

What are the differences with a "normal" shares market in West?

Are there more risks for an investor? What are the implications on the trading?

Thanks

Gobs

[benjamat]

but morally and ethically this one really is one you should take care of on your own, and an apology from your Politicians to the non American tax payers around the World who now have to help foot this bill and indirectly support US home-owners, would be quite in order.

How exactly are you or any other non-American tax payers footing the bill and/or indirectly supporting US home-owners? Be specific please.

One of the ways have been the hundreds of billions of Dollars, the amongst others, most European central Banks was forced to pump into the system to support the Dollar a few weeks ago, and now the Governments supporting or buying up of many big European financial institutions who would otherwise fold under the burden from their US sub prime investments thus making the State the bearer/part bearer of the risk involved with these loans. The money used for these purposes is TAX PAYER money, get it?

Ireland, England and Germany being examples of country's that effectively have nationalised financial institutions to save them from folding, whatever future losses those institutions might have to take will be on the backs of the tax payers, the point being that the need to buy, and those perhaps future losses have not come mainly from risky domestic investments, but from the US sub prime scam.

I'll ask the same question again: How are you specifically footing the bill and/or indirectly supporting US home-owners?

In the first paragraph, you mention the ECB has pumped liquidity into the monetary system. Ok fine, I'll buy that. But this has been done as part of a larger strategy to keep inflation under control (I think the reported target is no higher than 4.1%). How does this relate to you footing the bill and subsidizing US home-owners?

In the second paragraph, it sounds like you are blaming the socialist nature of European governments on the subprime problem, which would hardly be true would it? And as far as socialized businesses possibly suffering losses and potentionally pushing those losses on to the backs of taxpayers, I only have a few questions in response:

- Has such action by the ECB and other central banks affected you personally as yet? If so how?

- What is the direct (or indirect) subsidy relationship between you and a US home-owner?

- What the heck are governments doing playing around in the commodities markets in the first place? (and making very poor investment decisions to boot)

- Isn't there something fundamentally wrong with that? If I were you, I would be more pissed off at my home government for being so stupid and for having nationalized these businesses in the first place.

- Shouldn't this crisis be a call to action to Europeans and other affected nations to de-socialize, de-centralize and reduce the size and complexity of their elected governments?

As I've suggested before, there is always opportunity in faillure, just as there is opportunity in success. Shouldn't Europeans and other nations use this example of governmental failure as positive motivation and opportunity to reclaim their individual economic freedom from their government and rally to insist that their governments stick to the business of governing, and leave the business of running businesses to the businessmen (and women)?

Well its simple really, the fed kept interest rates well below their natural level in order to stave off recession in the states. Now I dont decry this in itself, it is the duty of governments to try and protect their people but where it goes wrong is this.

The financial market is now global, yes, global, global. The wall street finance houses manufactured financial packages which made bad debt look like triple A. As the states is the biggest economy in the world as is the financial services industry, the world bought into these dodgy packages and now that the whole world knows that these packaged mortgages are actually crap everyone is catching a very nasty cold. Which all began with the fed keeping interest rates at a false low and making money too cheap.

However after all this it must be said that even though it all went to s--t in the states to begin with the rest of the worlds financial systems werent exactly slow to sell their own packaged crap.

[LaoPo]

I didn't mean insider trading. I should have said that upfront. Nothing illegal about their purchases at all. For me, I am glad to see it as it shows they are putting their own money into the companies they manage during troubled times.

Executives of Stock Market listed companies, trading (which is buying AND selling) with their own money during troubled times in the stock of that same company is NOT insider trading ?

Maybe I have different perspectives about stock market rules...

LaoPo

I know what trading is, but thanks for the definition anyway. While I personally don't know of any that have "played" the stock market with their own stock, I do know some directors that have purchased shares of companies they manage when prices dropped. In fact it was mentioned recently in one of the newspapers. I for one like to see these guys putting their own money up.

Well, maybe it's (insider trading) allowed in Corporate Thailand; wouldn't surprise me if one takes the countries' infamous corruption into consideration.

LaoPo

You are commenting about a market you don't fully understand. The SET isn't like other markets that you know. In Thailand when you take a company public you don't float 100% ownership in the company. In fact, 50% or more of the shares issued and outstanding of a listed firm are often not publicly traded.

LaoPo, as an addendum to my comment above, the link below (public info) gives the amount of free float on listed stocks.

http://capital.sec.or.th/webapp/freefloat/freefloate.php

...

Maybe you should investigate the percentages in the world markets....and see IF they are different than the SET.

Well, let me save you some time; they are no different.

MOST -world wide- companies entering/listing on a(ny) stock market don't float 100% of the/their shares, so SET is no exception.

SO: executives of listed companies, BUYING SHARES in their own company AFTER the company is listed, with the knowledge that the shares are, for any reason, too low (and lower than they should be) and with the intention to sell them later at a higher price are guilty of insider trading.

We're back at the start line but I rest my case here.

LaoPo

[sriracha john]

Thai shares open 7.27 per cent lower

Thai shares plunged 36.35 points or 7.27% when the market was open for trading Friday morning.

The composite index of the Stock Exchange of Thailand dropped to 464.64 at 10:08 am with a trading volume of Bt2.658 billion.

The blue-chip SET50 dropped 28.62 points or 8.22 per cent to 319.52.

- The Nation / 2008-10-10

[Old Man River]

I didn't mean insider trading. I should have said that upfront. Nothing illegal about their purchases at all. For me, I am glad to see it as it shows they are putting their own money into the companies they manage during troubled times.

Executives of Stock Market listed companies, trading (which is buying AND selling) with their own money during troubled times in the stock of that same company is NOT insider trading ?

Maybe I have different perspectives about stock market rules...

LaoPo

I know what trading is, but thanks for the definition anyway. While I personally don't know of any that have "played" the stock market with their own stock, I do know some directors that have purchased shares of companies they manage when prices dropped. In fact it was mentioned recently in one of the newspapers. I for one like to see these guys putting their own money up.

Well, maybe it's (insider trading) allowed in Corporate Thailand; wouldn't surprise me if one takes the countries' infamous corruption into consideration.

LaoPo

You are commenting about a market you don't fully understand. The SET isn't like other markets that you know. In Thailand when you take a company public you don't float 100% ownership in the company. In fact, 50% or more of the shares issued and outstanding of a listed firm are often not publicly traded.

LaoPo, as an addendum to my comment above, the link below (public info) gives the amount of free float on listed stocks.

http://capital.sec.or.th/webapp/freefloat/freefloate.php

...

Maybe you should investigate the percentages in the world markets....and see IF they are different than the SET.

Well, let me save you some time; they are no different.

MOST -world wide- companies entering/listing on a(ny) stock market don't float 100% of the/their shares, so SET is no exception.

SO: executives of listed companies, BUYING SHARES in their own company AFTER the company is listed, with the knowledge that the shares are, for any reason, too low (and lower than they should be) and with the intention to sell them later at a higher price are guilty of insider trading.

We're back at the start line but I rest my case here.

LaoPo

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

[britmaveric]

Bloodbath of a week, but at the end of the day, probably just a market correction as such - inflated stocks are coming down to earth. Good time to buy.

[Old Man River]

I didn't mean insider trading. I should have said that upfront. Nothing illegal about their purchases at all. For me, I am glad to see it as it shows they are putting their own money into the companies they manage during troubled times.

Executives of Stock Market listed companies, trading (which is buying AND selling) with their own money during troubled times in the stock of that same company is NOT insider trading ?

Maybe I have different perspectives about stock market rules...

LaoPo

I know what trading is, but thanks for the definition anyway. While I personally don't know of any that have "played" the stock market with their own stock, I do know some directors that have purchased shares of companies they manage when prices dropped. In fact it was mentioned recently in one of the newspapers. I for one like to see these guys putting their own money up.

Well, maybe it's (insider trading) allowed in Corporate Thailand; wouldn't surprise me if one takes the countries' infamous corruption into consideration.

LaoPo

You are commenting about a market you don't fully understand. The SET isn't like other markets that you know. In Thailand when you take a company public you don't float 100% ownership in the company. In fact, 50% or more of the shares issued and outstanding of a listed firm are often not publicly traded.

LaoPo, as an addendum to my comment above, the link below (public info) gives the amount of free float on listed stocks.

http://capital.sec.or.th/webapp/freefloat/freefloate.php

...

Maybe you should investigate the percentages in the world markets....and see IF they are different than the SET.

Well, let me save you some time; they are no different.

MOST -world wide- companies entering/listing on a(ny) stock market don't float 100% of the/their shares, so SET is no exception.

SO: executives of listed companies, BUYING SHARES in their own company AFTER the company is listed, with the knowledge that the shares are, for any reason, too low (and lower than they should be) and with the intention to sell them later at a higher price are guilty of insider trading.

We're back at the start line but I rest my case here.

LaoPo

My contention of legalities in Thailand aside, save me more time. Similar as to what I did for you, please provide me with a link showing that the NYSE (or a similar exchange) allows IPO's that float less than 50% ownership in their companies.

[Old Man River]

Bloodbath of a week, but at the end of the day, probably just a market correction as such - inflated stocks are coming down to earth. Good time to buy.

I fully agree. It may take two years before foreign buyers come back in (due to the global financial crisis), but when they do the profits will be substantial.

[sriracha john]

Thai shares open 7.27 per cent lower

Thai shares plunged 36.35 points or 7.27% when the market was open for trading Friday morning.

The composite index of the Stock Exchange of Thailand dropped to 464.64 at 10:08 am with a trading volume of Bt2.658 billion.

Thai stocks plunge 9.61 per cent on closing

BANGKOK, Oct 10 (TNA) - The Stock Exchange of Thailand (SET) composite index on Friday plunged 48.03 points or 9.61% to close at 451.96.

Total turnover was about Bt16.3 billion.

The SET suspended trade for about half-an-hour shortly after the market was reopened for the afternoon session when the index plunged 10.02 per cent following the forced selling of shares, global market meltdown and local political turbulence.

While the market suspended trading for about 30 minutes, the SET informed investors on the situations in overseas markets in order to allow investors to decide what to do next, SET President Patareeya Benjapolchai said.

Edited October 10, 2008 by sriracha john

[LaoPo]

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

MY definitions OR definitions as described by the SET and therefore the laws of the country - Thailand -?

1. Insider Trading - Securities trading made by any insiders, as defined in the SEA, based on inside information.

2. Market Manipulation - Securities trading made by a group of persons in co-operation so as to mislead other persons into trading any securities.

3. Misstatement - Rumours or fault information to mislead the public in making securities trading decisions.

http://www.set.or.th/en/regulations/superv...illance_p1.html

...and YOU are basing your opinion on the laws of the country.....? ....hmmm

Anything else Sir ?

LaoPo

[AlKing]

Will one die faster if one hang himself / herself with 2 ropes? OMG when will the market stop falling?

[thaibeachlovers]

Can anyone who knows about such, tell me if the falling stock market is likely to lower the baht exchange rate, as the rapidly plunging £ is going to put a severe crimp in my holiday "fun"?

[Old Man River]

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

MY definitions OR definitions as described by the SET and therefore the laws of the country - Thailand -?

1. Insider Trading - Securities trading made by any insiders, as defined in the SEA, based on inside information.

2. Market Manipulation - Securities trading made by a group of persons in co-operation so as to mislead other persons into trading any securities.

3. Misstatement - Rumours or fault information to mislead the public in making securities trading decisions.

http://www.set.or.th/en/regulations/superv...illance_p1.html

...and YOU are basing your opinion on the laws of the country.....? ....hmmm

Anything else Sir ?

LaoPo

Please take the time to follow what I have said. My point on the SET is that listed companies can and often do IPO's where they float minority interests in their companies. I gave you a link to the amount of free float on shares as of last week, and liquidity in this free float is often less than stated. Your response that many exchanges allow companies to float less than 100% is not the same as floating a minority interest. LaoPo, I am keeping an open mind here. I am always willing to learn something new, but please give me a link to support your claim that a major exchange such as the NYSE allows companies to do IPO's on minority interests (i.e. less than 50%).

On the Thai securities law, I am discussing something I know to be perfectly legal. Completely legal. Somehow you seem stuck on this point of insider trading as if everything done in Thailand is illegal. We are not talking about trading based on inside information. The fact that a stock is selling below book is PUBLIC INFORMATION. There is nothing "insider" about this. These purchases have to be properly disclosed, but there is nothing illegal about a director purchasing these shares and, as I have said, I for one am happy to see directors supporting these companies that I also have shares in. If this makes you uncomfortable, do your homework and don't buy shares in these companies.

[Old Man River]

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

MY definitions OR definitions as described by the SET and therefore the laws of the country - Thailand -?

1. Insider Trading - Securities trading made by any insiders, as defined in the SEA, based on inside information.

2. Market Manipulation - Securities trading made by a group of persons in co-operation so as to mislead other persons into trading any securities.

3. Misstatement - Rumours or fault information to mislead the public in making securities trading decisions.

http://www.set.or.th/en/regulations/superv...illance_p1.html

...and YOU are basing your opinion on the laws of the country.....? ....hmmm

Anything else Sir ?

LaoPo

Please take the time to follow what I have said. My point on the SET is that listed companies can and often do IPO's where they float minority interests in their companies. I gave you a link to the amount of free float on shares as of last week, and liquidity in this free float is often less than stated. Your response that many exchanges allow companies to float less than 100% is not the same as floating a minority interest. LaoPo, I am keeping an open mind here. I am always willing to learn something new, but please give me a link to support your claim that a major exchange such as the NYSE allows companies to do IPO's on minority interests (i.e. less than 50%).

On the Thai securities law, I am discussing something I know to be perfectly legal. Completely legal. Somehow you seem stuck on this point of insider trading as if everything done in Thailand is illegal. We are not talking about trading based on inside information. The fact that a stock is selling below book is PUBLIC INFORMATION. There is nothing "insider" about this. These purchases have to be properly disclosed, but there is nothing illegal about a director purchasing these shares and, as I have said, I for one am happy to see directors supporting these companies that I also have shares in. If this makes you uncomfortable, do your homework and don't buy shares in these companies.

Below is the link to the article I was looking for to prove to you that directors buying shares in companies they manage is not insider trading under Thai law, regardless of how you interpret the laws.

http://202.60.199.47/2008/09/24/business/b...ss_30084242.php

[LaoPo]

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

MY definitions OR definitions as described by the SET and therefore the laws of the country - Thailand -?

1. Insider Trading - Securities trading made by any insiders, as defined in the SEA, based on inside information.

2. Market Manipulation - Securities trading made by a group of persons in co-operation so as to mislead other persons into trading any securities.

3. Misstatement - Rumours or fault information to mislead the public in making securities trading decisions.

http://www.set.or.th/en/regulations/superv...illance_p1.html

...and YOU are basing your opinion on the laws of the country.....? ....hmmm

Anything else Sir ?

LaoPo

Please take the time to follow what I have said. My point on the SET is that listed companies can and often do IPO's where they float minority interests in their companies. I gave you a link to the amount of free float on shares as of last week, and liquidity in this free float is often less than stated. Your response that many exchanges allow companies to float less than 100% is not the same as floating a minority interest. LaoPo, I am keeping an open mind here. I am always willing to learn something new, but please give me a link to support your claim that a major exchange such as the NYSE allows companies to do IPO's on minority interests (i.e. less than 50%).

On the Thai securities law, I am discussing something I know to be perfectly legal. Completely legal. Somehow you seem stuck on this point of insider trading as if everything done in Thailand is illegal. We are not talking about trading based on inside information. The fact that a stock is selling below book is PUBLIC INFORMATION. There is nothing "insider" about this. These purchases have to be properly disclosed, but there is nothing illegal about a director purchasing these shares and, as I have said, I for one am happy to see directors supporting these companies that I also have shares in. If this makes you uncomfortable, do your homework and don't buy shares in these companies.

Sorry OMR, I'm resting here because you are plain U N B E L I E V A B L E. Have it your own way because that's the only way,........... for you.

LaoPo

[Old Man River]

We are not back to the start line yet. YOU are basing YOUR definitions of what YOU think is right and wrong. I am basing mine on the law of the country, regardless of whether I think it is right or wrong. The law is the law and legally, if properly disclosed, it is not insider trading regardless of YOUR personal definitions.

OK, now I rest my case.

MY definitions OR definitions as described by the SET and therefore the laws of the country - Thailand -?

1. Insider Trading - Securities trading made by any insiders, as defined in the SEA, based on inside information.

2. Market Manipulation - Securities trading made by a group of persons in co-operation so as to mislead other persons into trading any securities.

3. Misstatement - Rumours or fault information to mislead the public in making securities trading decisions.

http://www.set.or.th/en/regulations/superv...illance_p1.html

...and YOU are basing your opinion on the laws of the country.....? ....hmmm

Anything else Sir ?

LaoPo

Please take the time to follow what I have said. My point on the SET is that listed companies can and often do IPO's where they float minority interests in their companies. I gave you a link to the amount of free float on shares as of last week, and liquidity in this free float is often less than stated. Your response that many exchanges allow companies to float less than 100% is not the same as floating a minority interest. LaoPo, I am keeping an open mind here. I am always willing to learn something new, but please give me a link to support your claim that a major exchange such as the NYSE allows companies to do IPO's on minority interests (i.e. less than 50%).

On the Thai securities law, I am discussing something I know to be perfectly legal. Completely legal. Somehow you seem stuck on this point of insider trading as if everything done in Thailand is illegal. We are not talking about trading based on inside information. The fact that a stock is selling below book is PUBLIC INFORMATION. There is nothing "insider" about this. These purchases have to be properly disclosed, but there is nothing illegal about a director purchasing these shares and, as I have said, I for one am happy to see directors supporting these companies that I also have shares in. If this makes you uncomfortable, do your homework and don't buy shares in these companies.

Sorry OMR, I'm resting here because you are plain U N B E L I E V A B L E. Have it your own way because that's the only way,........... for you.

LaoPo

I always find it interesting how when people get caught making points they can't back up, they resort to flaming. Have a nice rest, Sir.

[MikeWill]

Old Man River and LaoPo,

I hope that you both agree, it is a time now to wine and dine.

What are your recommendations on actual stocks... good time to buy Thai shares... which ones?

[LaoPo]

Old Man River and LaoPo,

I hope that you both agree, it is a time now to wine and dine.

What are your recommendations on actual stocks... good time to buy Thai shares... which ones?

Thanks for the wise advise Condo_bk; dining would be fine but no wine for me

I have no recommendations to buy -Thai- stocks. Stay away from stocks now, no matter what others claim or say.

STAY CASH for the coming months and stay cash in safe banks, if there are any , but if your money is substantial, spread it out in several bank accounts.

LaoPo

[Old Man River]

Old Man River and LaoPo,

I hope that you both agree, it is a time now to wine and dine.

What are your recommendations on actual stocks... good time to buy Thai shares... which ones?

If you don't have some money you can tie up in the SET for at least a year, perhaps longer, then best not to invest here. If you do, then the one's we like are the Thai blue chips (Siam Cement, Bangkok Bank, PTT etc.).

The Thai blue chips are the companies that the foreign fund managers had their money invested in, hence, when they pulled out of Thailand these were the stocks whose prices were falling the fastest. If your view is that at some time fund managers will return to Thailand, then my view is that these companies are where the opportunites lie.

[sriracha john]

SET Index - 2008/10/24

432.87 -32.37

[MikeWill]

SET Index - 2008/10/24

432.87 -32.37

Do you think this is the bottom?

[sriracha john]

Thai share plunge almost 7 per cent on panic selling

Thai share values plunged 6.96 per cent in value on Friday as panic selling seized the region, analysts said.

The Stock Exchange of Thailand (SET) index ended at 432.87, down 32.37 points or 6.96 per cent.

"There was panic selling in tune with the trend in other Asian markets," said Phuwadol Larpudomsuk, an analyst at Asia Plus Securities.

Thailand's uncertain political scene also played a role. Another confrontation between anti-government protestors and anti-government protestors is expected over the weekend.

Hundreds of former policemen have vowed to surround Government House, which the anti-government People's Alliance for Democracy has occupied since August 26, to force them to end their demonstration by cutting off food, water and utility supplies to the illegal squatters.

"Investors were worried about the political situation over the weekend so they were dumping shares on Friday," said Phuwadol.

- DPA / 2008-10-25

[lannarebirth]

Thai share plunge almost 7 per cent on panic selling

Thai share values plunged 6.96 per cent in value on Friday as panic selling seized the region, analysts said.

The Stock Exchange of Thailand (SET) index ended at 432.87, down 32.37 points or 6.96 per cent.

"There was panic selling in tune with the trend in other Asian markets," said Phuwadol Larpudomsuk, an analyst at Asia Plus Securities.

Thailand's uncertain political scene also played a role. Another confrontation between anti-government protestors and anti-government protestors is expected over the weekend.

Hundreds of former policemen have vowed to surround Government House, which the anti-government People's Alliance for Democracy has occupied since August 26, to force them to end their demonstration by cutting off food, water and utility supplies to the illegal squatters.

"Investors were worried about the political situation over the weekend so they were dumping shares on Friday," said Phuwadol.

- DPA / 2008-10-25

Maybe someone paniced when they spotted that gap in the chart at 280. It's a traders market after all, not an investors market.

[Journalist]

"I am always willing to learn something new, but please give me a link to support your claim that a major exchange such as the NYSE allows companies to do IPO's on minority interests (i.e. less than 50%)."

Pm me if you wish and i'll point you in the right direction.

Companies can IPO with minority interest-sized chunks and small percentages of their authorised or issued share capital in order to get a listing and quotation.

[animatic]

Well the 900lb gorrilla in the corner question is not why so many are panic selling,

but who the hel_l is BUYING right now?

Can't sell without a buyer, and I doubt most companies are

buying back their stock piecemeal to shore up perceived valuation levels.

I think a bit more exposure on how is grabbing bargans now would be enlightening.

And maybe aid others to panic less.

Or... I wonder who has very deep pockets and wants to control

more Thai companies boardrooms? AND can cause greater unrest on call.

Wouldn't be the first time someone caused an over weekend panic

to grab up controling deals at the Monday bell.

Edited October 24, 2008 by animatic

[Spee]

Can't sell without a buyer, and I doubt most companies are

buying back their stock piecemeal to shore up perceived valuation levels.

The herd runs while the smart players hang around to snarf up the bargains. There are many many companies who were stable, profitable and dividend-paying for years before this crisis, are that way now, and will continue to be that way. Companies like these are often way undervalued in today's market. These are the gems and for anyone with available cash, there may not be any better time to buy. The only unknown at this point is how much more government intervention is going to take place, which could further muck up the works.

[sriracha john]

it's Monday and it's still dropping from Friday's dropping...

Thai shares open 3.6 per cent lower

Thai stocks dropped 15.57 points or 3.6% when the market was opened for trading Monday morning.

The composite index of the Stock Exchange of Thailand dropped to 417.30 at 10:14 am with a trading value of Bt1.49 billion.

The blue-chip SET50 dropped 12.75 points or 4.27 per cent to 285.65.

- The Nation / 2008-10-27

==========================

and at 11:39 am...

410.47 - 22.40

Edited October 27, 2008 by sriracha john

[sriracha john]

also going at the SET this morning....

Tight security at SET over prohibition rally

More than 150 metropolitan policemen tightened security around the Stock Exchange of Thailand (SET) building on Monday morning to prepare for demonstrators led by anti-alcohol groups. More than 200 prohibition activists were expected to rally outside the SET building to oppose the listing of Thai Beverage Plc on the Thai bourse, claiming it would affect young people and harm society. Security forces thoroughly inspected people entering and leaving the venue, and steel fences were prepared to contend with protesters who planned to stop another attempt to trade shares in Thailand's biggest beer and whiskey producer. Apparently unrelated to the security problem, the key SET index fell 3.75 per cent right after the market opened on Monday

Continued here:

http://www.bangkokpost.com/breaking_news/b...s.php?id=131659

[sriracha john]

could be worse, I suppose...

PSE temporarily halts trading as stocks suffer heavy losses

MANILA, Philippines - For the first time in the 81-year existence of stock trading in the country, the Philippine Stock Exchange on Monday has temporarily halted the session in a bid to calm the frantic sell-off in local shares, which sent the main index falling by more than a tenth of its value.

The PSE has imposed the 15-minute circuit breaker rule from 11:23 a.m. to 11:38 a.m. as the bourse's bellwether Philippine Stock Exchange index plunged 220.70 points or 11.3 percent.

- GMA News / 15 minutes ago

======================

meanwhile... at the SET... at noon

409.30 - 23.57

Edited October 27, 2008 by sriracha john

[soundman]

Probably break into the three hundreds today.

Quite possible mass panic selling will occur this week & low three hundreds will be the result.

Anyone noticed the run on gold? Out of stock actually!