webfact Posted October 17, 2009 Share Posted October 17, 2009 Share prices rebound as foreign investors return By WICHIT CHAITRONG THE NATION Published on October 17, 2009 Foreign investors familiar with local politics still have high confidence in Thailand despite politically sensitive rumours that have hit the stock market in recent days. Share prices yesterday gained more than 3 per cent to close at 717.12 points on turnover of Bt29 billion after losing heavily on Wednesday and Thursday. "Thais can manage their politics because they have experience," said Liam Ayudhkij, group chairman of the Property Care Services (Thailand), an Irish businessman who has lived in the Kingdom for 46 years. Ayudhkij told The Nation on the sidelines of the Asia-Pacific Ireland Business Forum at the Dusit Thani Hotel in Bangkok that he had lived through several dictatorial regimes, including that of Field Marshal Sarit Thanarat (1957-63). Irish-Thai Chamber of Commerce president Jerome Kelly expressed a similar view, saying the present government's stability had been "pretty good" these past 10 months. Asked how he would describe the Thai situation to foreign friends, Kelly said: "Thailand is just fine." Finance Minister Korn Chatikavanij said the stock market's correction had helped restrain the baht from further appreciation. Kelly said that was good for exporters. It was a normal investment practice in the equity market for foreign investors to take profits from previous stock-index rises and local-currency appreciation. He also suggested local investors look at the economic fundamentals and urged them not to panic. Prime Minister Abhisit Vejjajiva said the government was investigating the source of the rumours. He warned investors to be cautious when considering information and urged the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) to examine whether anyone was creating problems in the stock market. He said the authorities should determine whether spreading rumours was against the law. Abhisit said that whether the government took legal action would depend on how much trading had been affected by any wrongdoing. SEC secretary-general Thirachai Phuvanatnaranubala said police had asked him for information on the source of the rumours. He said Wednesday and Thursday's stock transactions had been made by various investors "in a diversifying manner", which was not unusual. Asked whether US news-service provider Bloomberg could have exacerbated the situation by reporting the rumours, Thirachai dismissed such speculation, saying it had published news about the rumours after the stocks had already fallen. Meanwhile, he said the Capital Market Development Committee yesterday agreed to the SET's demutualisation plan and would soon set up a special committee to oversee the process. A plan will soon be submitted for Cabinet approval. SET president Patareeya Benjapholchai said she hoped the equity bourse's total market capitalisation would exceed 100 per cent of gross domestic product within five years -- The Nation 2009/10/17 Link to comment Share on other sites More sharing options...
george Posted October 17, 2009 Share Posted October 17, 2009 KING'S HEALTH 'No cause for concern' BANGKOK: -- Princess Chulabhorn says HM in no danger, mainly under rehabilitative care His Majesty the King's health condition is no longer worrying, said his daughter HRH Princess Chulabhorn Walailak "Now there is nothing to worry about his heart conditions and lung infections," she told officials at Thai embassy in Germany during her visit there. Before his ongoing recovery from illnesses, HM the King had high fever and so weak that he was unable to walk. The conditions have improved after the first week of treatments, at Siriraj Hospital where he was admitted on September 19. "Now there is nothing to worry about his heart conditions and lung infections. "What the doctors are taking care of now is a rehabilitative treament. As it's usual for elder people who are in beds for treatments for many days, they may not be able to walk stably. That is the only reason still keeping him in the hospital, as for the symptoms, the doctors say that there is nothing dangerฌous [to the King's health] now," she added. During the past 27 days, up to 588,198 people have signed getwell messages for His Majesty the King at the Siriraj Hospital. Yesterday alone, the number of the well wishers stood at 18,798. Because the king has been much loved and revered, a large number of people showed up at the Siriraj Hospital to wish him a speedy and full recovery each day. Yesterday, many people including Nabil Hussain Ashri, Saudi Arabia's Charge D' Affairs to Thailand were seen looking up to the Siriraj Hospital's Chalermphrakiat Building where the king was seeking treatment. German Hans Gerhold said he had deep admiration for the Thai king. "He's my role model. He has done so many things for other people espeฌcially Thais. And he has outstanding abilities in many areas including environment works and agriculture," Gerhold said. "His Majesty has made great contributions to the country. He's much more than the father of the nation," New Politics Party leader Sondhi Limthongkul said yesterday after he signed the getwell message at the hospital. The government is planing grand celebrations to mark His Majesty the King's 82nd birthday in December, Deputy Prime Minister Suthep Thaugsuban said yesterday. Activities to mark the special occasion will begin on December 1 and are expected to continue until December 13, Suthep said. Suthep, in his capacity as chairman of the organising committee, said the celebrations would be held in three areas during December 17 Sanam Luang, the Royal Plaza and the adjacent area, and Rajdamnoen Avenue. Suthep said state agencies and the private sector would be involved in organising the celebrations, which will include firework displays -- The Nation 2009-10-17. Link to comment Share on other sites More sharing options...
webfact Posted October 17, 2009 Author Share Posted October 17, 2009 Please keep this thread civil and in accordance with forum rule #2. Otherwise we will close this topic immediately. Please pay attention 2) Not to express disrespect of the King of Thailand or anyone else in the Thai royal family, whether living or deceased, nor to criticize the monarchy as an institution. Speculation, comments and discussion of either a political or personal nature are not allowed when discussing HM The King or the Royal family. Discussion of the lese majeste law or lese majeste cases is permitted on the forum, providing no comment or speculation is made referencing the royal family. To breach this rule will result in immediate ban. Thank you for your cooperation Link to comment Share on other sites More sharing options...
grantbkk Posted October 17, 2009 Share Posted October 17, 2009 The SET is run like a casino without the oversight. Look for 650 in the near future. Buyer beware. Link to comment Share on other sites More sharing options...
Grey11 Posted October 17, 2009 Share Posted October 17, 2009 As long as Thaksin is alive the Thai government will be unstable. Link to comment Share on other sites More sharing options...
Bruce1 Posted October 17, 2009 Share Posted October 17, 2009 Lets hope for a full and speedy recovery for HM. Link to comment Share on other sites More sharing options...
mrtoad Posted October 17, 2009 Share Posted October 17, 2009 Nothing to see and certainly nothing to say. Link to comment Share on other sites More sharing options...
marquess Posted October 17, 2009 Share Posted October 17, 2009 Lets hope for a full and speedy recovery for HM. I too echo such sentiments, but feel that if HM's health were cause for concern it would be very unlikely that we would be told. Link to comment Share on other sites More sharing options...
vicco Posted October 17, 2009 Share Posted October 17, 2009 Wow.....a stock market falling and rising on rumor and speculation..........so typical of Thailand....you would never see such a thing in US or EU.... Link to comment Share on other sites More sharing options...
h90 Posted October 17, 2009 Share Posted October 17, 2009 Wow.....a stock market falling and rising on rumor and speculation..........so typical of Thailand....you would never see such a thingin US or EU.... hahahaha all the times we see that on the us and eu stock market..... Link to comment Share on other sites More sharing options...
aslimversgwm Posted October 17, 2009 Share Posted October 17, 2009 Wow.....a stock market falling and rising on rumor and speculation..........so typical of Thailand....you would never see such a thingin US or EU.... Of cause it would - rumours of the imminent collapse of the banking system caused the near collapse of all stocks and shares, across the globe, although out in the 'real world' everything was quite honkey dorey. Link to comment Share on other sites More sharing options...
h90 Posted October 17, 2009 Share Posted October 17, 2009 Lets hope for a full and speedy recovery for HM. I too echo such sentiments, but feel that if HM's health were cause for concern it would be very unlikely that we would be told. Yes that makes me worry. If there are cause for concern we would not be told. Lets hope for a full and speedy recovery for HM. Link to comment Share on other sites More sharing options...
aslimversgwm Posted October 17, 2009 Share Posted October 17, 2009 This does rather illustrate the fragility of the Thai stock market, but so pleased to hear His Majesty has recovered well. Link to comment Share on other sites More sharing options...
loveitto Posted October 17, 2009 Share Posted October 17, 2009 I for one sincerely hope H M health improves <snip> As for the disgusting lowlifes who profit and loss on the wellbeing of other human beings, well they really are not even worth getting angry about, they will get theirs, sooner or later! They would not understand, as their sole aim in life is money,money, and more money and to h-ll with the rest of us who suffer financially every single day on the whims of these leeches..their types have created this financial downfall, and their speculating on common commodities, eg oil should not be allowed..look at the 'ripple effect'' of their actions...disgusting! Link to comment Share on other sites More sharing options...
Arkady Posted October 17, 2009 Share Posted October 17, 2009 Some say that the rumours eminated from Thaksin's brokers in Hong Kong who they claim were big short sellers on Wed. They say he wanted to divert attention from rumours about his own health and needs to raise more cash in case he can't get his assets in Thailand unfrozen. It's always quite funny when you read that the police are investigating things that happen in the stock market. They haven't a clue how it works but they are good at pointing fingers and asking for donations to make the fingers go away. Link to comment Share on other sites More sharing options...
Thai-Aust Posted October 17, 2009 Share Posted October 17, 2009 The fact that TV put these two topics together, they must be related! I've been wondering what those rumours would be, there were no details whatsoever, now it's clear to me. Link to comment Share on other sites More sharing options...
mrtoad Posted October 17, 2009 Share Posted October 17, 2009 Some say that the rumours eminated from Thaksin's brokers in Hong Kong who they claim were big short sellers on Wed. They say he wanted to divert attention from rumours about his own health and needs to raise more cash in case he can't get his assets in Thailand unfrozen.It's always quite funny when you read that the police are investigating things that happen in the stock market. They haven't a clue how it works but they are good at pointing fingers and asking for donations to make the fingers go away. Certainly some of that would be believable. As for the BIB, they are very good at pointing fingers, just notice those great staged photos that they publish. Link to comment Share on other sites More sharing options...
webfact Posted October 17, 2009 Author Share Posted October 17, 2009 SET reverses free-fall trend, recoups nearly all of 2-day loss BANGKOK, Oct 17 (TNA) – The Stock Exchange of Thailand (SET) composite index surged above the 700-point level again in Friday’s trading, ending a two-day free fall fuelled by widespread rumours. The index opened higher by more than 12 points and continued its hike to reach the highest level of the day at 717.12, up 24.40 points or 3.52 per cent with a heavy trading value of Bt29.77 billion. The market managed to recoup almost all of its two-day loss with a foreign net buy of Bt535.44 million, an institutional investor buy of Bt248.71 million, and small investor selling of Bt884.15 million. Kavee Chukasem, executive vice president of Kasikornthai Securities, said the index recovered quickly upon news reports that Prime Minister Abhisit Vejjajiva had ordered state agencies concerned to check and deal with the origin of the undesirable rumours. He predicted that the index would continue edging up, perhaps, to 724 points because Thailand’s economic fundamentals remain strong and because investor concerns over the rumours also began to ease. Additionally, the third-quarter operating results of many listed companies--expected to be sound--will help boost the investor sentiment next week, he said. (TNA) -- TNA 2009/10/17 Link to comment Share on other sites More sharing options...
hjvdhoef Posted October 17, 2009 Share Posted October 17, 2009 Asked how he would describe the Thai situation to foreign friends, Kelly said: "Thailand is just fine."mmmmmmmm I remember that a PM in Pattaya sad that as well,just before the redshirts stormed in the hotel. Link to comment Share on other sites More sharing options...
hjvdhoef Posted October 17, 2009 Share Posted October 17, 2009 As long as Thaksin is alive the Thai government will be unstable. and what about before Thaksin?Stable?????? Link to comment Share on other sites More sharing options...
givenall Posted October 17, 2009 Share Posted October 17, 2009 As long as Thaksin is alive the Thai government will be unstable. No one cares abou Thaksin anymore Link to comment Share on other sites More sharing options...
AussieFarang Posted October 17, 2009 Share Posted October 17, 2009 As long as Thaksin is alive the Thai government will be unstable. As long as Thaksin is alive the Thai government will be unstable.?????????? As long as Thailand is alive the Thai government will be unstable. Link to comment Share on other sites More sharing options...
Basil B Posted October 17, 2009 Share Posted October 17, 2009 I do hope the King recovers soon, I have been very disappointed in the fact that there has been little news as to his health and not surprised that an inaccurate report should spread so quick as to cause the havoc as witnessed this week. Link to comment Share on other sites More sharing options...
brianb1944 Posted October 17, 2009 Share Posted October 17, 2009 Best wishes To HM, may he have a speedy recovery and a great 82nd Birthday. He is my favourite Monarch in the World, and I have the deepest admiration and respect for him, and what he has done for Thailand. Link to comment Share on other sites More sharing options...
webfact Posted October 17, 2009 Author Share Posted October 17, 2009 we have a pinned topic where we post bulletins from the Royal Household Bureau regarding HM The King recovery http://www.thaivisa.com/forum/Majesty-Recu...ng-t306550.html Link to comment Share on other sites More sharing options...
khaowong1 Posted October 17, 2009 Share Posted October 17, 2009 I don't think me and this guy are living in the same country.. "Thais can manage their politics because they have experience," said Liam Ayudhkij, group chairman of the Property Care Services (Thailand), an Irish businessman who has lived in the Kingdom for 46 years. Experience yes, lots of experience, Managing, I don't think so.. Link to comment Share on other sites More sharing options...
nosatisfaction Posted October 17, 2009 Share Posted October 17, 2009 Wow.....a stock market falling and rising on rumor and speculation..........so typical of Thailand....you would never see such a thingin US or EU.... SO WHY do we have a GLOBAL crisis? Link to comment Share on other sites More sharing options...
JosephA Posted October 17, 2009 Share Posted October 17, 2009 Wow, what a bold assumption!! 1. If investors in Stock markets worldwide (in particularly big markets US EU or HK, JP, KRX) don't respond & speculations nonexistent, how can you find Technical Phenomena. It is led by someone picking the trends in cross-trading, currency, political, concessions, speculations (even rumor) and the setiment picks up. Maybe you should look into it, learn and maybe make some money. It is the same for Gold, Futures, Stocks, & other commodiites. 2. Just want to make something interesting to say or 3. soooo typical of Thailand (wow! very sour..) Wow.....a stock market falling and rising on rumor and speculation..........so typical of Thailand....you would never see such a thingin US or EU.... Link to comment Share on other sites More sharing options...
Thongkorn Posted October 17, 2009 Share Posted October 17, 2009 As long as Thaksin is alive the Thai government will be unstable. Taksin was good for the poor people . if you new what it was about, Its a feel good factor, most of the worlds indexes are going up, look at Wall street and the Ftse index its up 1622 since june , Link to comment Share on other sites More sharing options...
JosephA Posted October 17, 2009 Share Posted October 17, 2009 Well said! 1. Nothing wrong with people who make a living on Trading Stocks, Futures, ForEx, Commodities. It is essential to hedge against risk when needing a regular supply in metals, grains, energy, USD, etc. But when it comes to $$$ speculations, it affects those billions of people with the rise of FOOD, Energy, Savings, and a regular income in many many cases. 2. Ideal Capitalism is great. It is the greed in people in Capitalist world that make Capitalism weak. SURE THERE MAY BE INDUVIDUALS (OTHER VIEWS) but surely you can see this one. Hope we learn from this.. notttT Gold US1060+/bbl. (new high) Brent US76+/t oz. (100% since March 2009) I for one sincerely hope H M health improves <snip>As for the disgusting lowlifes who profit and loss on the wellbeing of other human beings, well they really are not even worth getting angry about, they will get theirs, sooner or later! They would not understand, as their sole aim in life is money,money, and more money and to h-ll with the rest of us who suffer financially every single day on the whims of these leeches..their types have created this financial downfall, and their speculating on common commodities, eg oil should not be allowed..look at the 'ripple effect'' of their actions...disgusting! Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now