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[LaoPo]

The Market Thinks The Yellow Shirts Won

Written by our Correspondent

MONDAY, 07 June 2010

Thailand's Yellow Shirted elite is back with a vengeance. Perhaps the single most significant indicator of the extent to which it feels it has won the war as well as the battle with the Red Shirts has been the behavior of the stock market, particularly over the two weeks since it opened following the violence in central Bangkok.

The market absorbed huge waves of foreign selling in the immediate aftermath of the troubles without losing a lot of ground and has since regained those losses. The buoyancy is entirely due to individual investors who have been massive net buyers, providing most of the offset to the foreign selling. Local institutions have also been net buyers, but on a relatively small scale.

Despite a year of political uncertainty culminating in the May violence, the Stock Exchange of Thailand index has outperformed not only most of the world over the past 12 months but even in the troubled past three months. The SET index is now up 6.8 percent over three months and 12 percent over six. Meanwhile the baht has been tending to appreciate against the US dollar and in line with the general Asian currency trend, reflecting overall trade and capital flows rather than the political situation.

Continues here:

Asia Sentinel - The Market Thinks the Yellow Shirts Won

LaoPo

[enginerevision]

I allready thought it was unbelievable to see the stock market " just rise " even during the red shirt protest.....

Are they buying ^ & ?

[LaoPo]

I allready thought it was unbelievable to see the stock market " just rise " even during the red shirt protest.....

Are they buying ^ & ?

From the article:

"...snip....Thai individuals are mostly from the Bangkok-centered elite, including the very rich families who control many of the companies listed on the exchange. Some might be buying just because they wanted to show that Thailand was back to normal but most would be acting on the assumption that that really was the case."

LaoPo

[thaihome]

An amazing rejection of basic economics and market dynamics in favor of political rhetoric and hyperbole.

The only actual facts presented support the rise the SET, everything else is pure biased speculation.

TH

[samran]

this is a thoroughly stupid article.

Of course, it isn't that 'red shirts' don't buy shares as well, no they are all repressed peasants. Not a rich person to be found amoungst them at all. No siree.

Not possible that there can be intelligent investors in Thailand (dare we say that there are smart Thai people in Thailand who are taking advantage of fears of foreign investors who have us the GFC? The same ones who have been dumping 'risky' AUD demoninated assets round about the same time?)

Stupid, stupid article.

Edited June 10, 2010 by samran

[Chunky1]

it's hard for people to believe, but these protests don't really effect most industry besides tourism.

[jombom]

Who is trying to sanitise the English language ? We see this misuse of words constantly.

How can buying shares on a stock exchange be regarded as an investment ? The shares can be sold just as quickly.

Surely, the correct word is speculation, or gambling.