Thai Stock Index Plummets, Hits lowest since 2003

[Old Man River]

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.

As it relates to the Thai SET, if one has the view that Thailand and all of its major companies are not going to go bankrupt, then there are some very good buys out there and they keep getting better. As I said a week or two ago, these are long term investments.

[animatic]

And my Mrs. wants god for her birthday next month too.

Guess I should buy now and hide it.

[soundman]

And my Mrs. wants god for her birthday next month too.

Guess I should buy now and hide it.

I didn't think God was for sale...

402.73 at lunch time....

[animatic]

And my Mrs. wants god for her birthday next month too.

Guess I should buy now and hide it.

I didn't think God was for sale...

402.73 at lunch time....

LOL Freudian slip I guess.

Should have been a capital G too.

[soundman]

And my Mrs. wants god for her birthday next month too.

Guess I should buy now and hide it.

I didn't think God was for sale...

402.73 at lunch time....

LOL Freudian slip I guess.

Should have been a capital G too.

Cheers.

395.06 at 2.45pm.

Hard to imagine that 11 months ago SET was around 980?? and securities companies (Phatra!) were predicting a slow but steady bull run into the 1600's.

[sriracha john]

and still dropping....

SET @ 15:54

393.22 - 39.65

[sriracha john]

SET @ 16:25

Last Update : 27 Oct 2008 16:04:22

Status : Halt

389.58 - 43.29

Edited October 27, 2008 by sriracha john

[roamer]

Going to make an interesting day tomorrow,

BANGKOK, Oct 27 (Reuters) - Thailand's main stock index <.SETI> fell 10 percent in afternoon business on Monday and trading was halted for the day.

At 0904 GMT, the benchmark SET index had dropped 43.29 points to 389.58, its lowest since May 2003, with top energy firm PTT down nearly 13 percent and the fourth largest bank, Kasikornbank, down 11.65 percent.

Trading is automatically halted for 30 minutes when the index drops 10 percent. Since there was less than 30 minutes of trading left when the halt was called on Monday, the session effectively closed early.

Going to be a lot of baht leaving LOS this week.

[sriracha john]

yesterday's gain was wiped out today with an even lower closing than Monday...

Thai shares down 3.49 per cent on instability

Thai shares started strong Wednesday but ended down 3.49 per cent as investors reacted to declines on other bourses in Asia and Europe.

The Stock Exchange of Thailand (SET) index ended at 384.15, down 13.89 points or 3.49 per cent.

"The market is still filled with short-term players who bought in the morning and then sold in the afternoon when they saw European markets were down," said Mongkol Phuangphaetha, an analyst at Adkinson Securities.

"There is no stability for the market," he added.

- DPA / 2008-10-29

Edited October 29, 2008 by sriracha john

[sriracha john]

Finance Minister: SET plunges 56%

The Finance Minister revealed the value of Thai stock market has nosedived by more than half following the global economic crisis.

Finance Minister Suchart Thadathamrongvech said on Sunday (November 2) the prevailing global economic crisis has caused less global financial liquidity.

He said that the Thai stock market’s value plunged more than half, or about 56 per cent, from around 900 points to a mere about 400 points, in line with global stock exchanges. People who held such assets as stocks and property felt poorer. It has resulted in less consumption and investment.

Regarding exports which accounted for around 65 per cent of the nation’s total income, Suchart said the sector next year was expected grow only 10 per cent, a relatively low rate compared with this year's anticipated growth at around 25 per cent. So, the government would help solve the problem by providing sufficient liquidity in the local economy in the short term.

The government would also extend full protection for people’s savings accounts by additional three years.

In addition, the Finance Minister said the government would shore up private sector’s confidence towards Thai economy by increasing the state expenses in a bid to add more money in the economy.

- ThaiNews / 2008-11-03

[AlKing]

As of midday, the Thai SET have jumped 7%. Thaksin appearance on Sat night pump up investors confidence?

Edited November 3, 2008 by AlKing

[jts-khorat]

BANGKOK: -- Thailand has escaped the global financial panic with only minor immediate damage, in part because of an ethic of financial caution that it learned in the 1997 financial crisis, which almost stopped its economy. The country today has little or no direct exposure to risky asset-backed securities and is awash with liquidity from a high and rising savings rate. The worst damage so far is $125 million of losses from the collapse of Lehman Brothers.

Finance Minister: SET plunges 56%

The Finance Minister revealed the value of Thai stock market has nosedived by more than half following the global economic crisis. Finance Minister Suchart Thadathamrongvech said on Sunday (November 2) the prevailing global economic crisis has caused less global financial liquidity.

I do not understand why people have to post such untrue news; in other posts we were informed that Thailand was totally insulated from the financial crisis (see topmost quote), that the economy is untouched, exports run smooth, that we will record tourist numbers and that everything else is just great.

Surely the Finance Minister must have been on drugs or otherwise confused to say things like the 'Thai stock market nosedived', especially in reaction to somthing foreigners are doing outside of Thailand. Everybody knows they do not matter! People like him are just out to destabilize the perfect Thailand, maybe are even part of a conspiracy to take Thailand away from the Thais, and he should be sent in a gulag for spreading such lies.

[LaoPo]

BANGKOK: -- Thailand has escaped the global financial panic with only minor immediate damage, in part because of an ethic of financial caution that it learned in the 1997 financial crisis, which almost stopped its economy. The country today has little or no direct exposure to risky asset-backed securities and is awash with liquidity from a high and rising savings rate. The worst damage so far is $125 million of losses from the collapse of Lehman Brothers.

Finance Minister: SET plunges 56%

The Finance Minister revealed the value of Thai stock market has nosedived by more than half following the global economic crisis. Finance Minister Suchart Thadathamrongvech said on Sunday (November 2) the prevailing global economic crisis has caused less global financial liquidity.

I do not understand why people have to post such untrue news; in other posts we were informed that Thailand was totally insulated from the financial crisis (see topmost quote), that the economy is untouched, exports run smooth, that we will record tourist numbers and that everything else is just great.

Surely the Finance Minister must have been on drugs or otherwise confused to say things like the 'Thai stock market nosedived', especially in reaction to somthing foreigners are doing outside of Thailand. Everybody knows they do not matter! People like him are just out to destabilize the perfect Thailand, maybe are even part of a conspiracy to take Thailand away from the Thais, and he should be sent in a gulag for spreading such lies.

Untrue news....?

Because if one decides to become a Politician they're sent to a special university, hidden deep in the -political- jungle, where they will learn how to lie.

LaoPo

[dumball]

When politicians 'Joe Blow' and 'Joe Slow' cannot give corrolated reports on the same subject , and both KNOW they are correct , your guess of where YOUR perfect Thailand is off to is more than likely no better than mine , at least my glasses are not rose-tinted .

[sriracha john]

The SET has once again gone crashing through the 400 mark.

Mid-day tally down 4%:

392.37 - 16.14

Edited November 20, 2008 by sriracha john

[CuttySark]

When stock fell below 800, I bought.

When stock fell below 700, I bought.

When stock fell below 600, I bought.

When stock fell below 500, I am broke.

When stock fell below 400, I wanted to jump.

If stock fell below 300, I will jump.