Why Are You Even Here? The Surprising Attitudes of Some Expats in Thailand

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Stock market continues gains on global bullishness
The Nation, Bloomberg

BANGKOK: -- After riding global optimism and strong domestic demand to breach the 1,600-point psychological barrier for the first time in 19 years on Tuesday, Thai stocks' momentum gathered steam yesterday, sending the Stock Exchange of Thailand (SET) Index to an intraday peak of 1,621.40 before closing 13 points or 0.81 per cent higher at 1,614.15.

The SET extended its year-to-date gain beyond 15 per cent even though foreign investors have remained net-sellers.

Thanachart Securities sees the SET hitting 1,630 points this week on its way to 1,700 by year-end. It attributed the spike to potential improvement in quarterly results of listed companies, which may lead to upward earnings revisions for several stocks, particularly those benefiting from domestic demand.

In its research note, Phillip Securities (Thailand) said it expects the upbeat data from the US, and the European Central Bank's rate cut, to further boost appetite in risk assets this week.

Last month, 165,000 more people were enlisted on the US non-farm payrolls, bringing down the unemployment rate to 7.5 per cent from 7.6 per cent in the previous month.

The ECB last week lowered the reference rate by a quarter percentage point to 0.50 per cent, with commitment to further stimulus. Australia's central bank also shifted the reference rate down a gear on Tuesday, and there is a 50-per-cent chance for another rate cut in July.

China's surprising trade surplus of US$18.2 billion (about Bt534 billion), after a rare trade deficit in the previous month, added to the euphoria.

Global markets have been heading for new highs in recent years on firming anticipation that stimulus would continue to lift the global economy out of the current gloom.

The Dow Jones Industrial Average on Tuesday added 87.31 points, or 0.6 per cent, to 15,056.20. Asian stocks advanced for a third day, with the regional benchmark index rising to a 5-year high. Japan's Nikkei 225 Stock Average climbed 0.7 per cent, extending the new high in four-and-a-half years.

The MSCI Asia Pacific Index edged up 0.9 per cent yesterday to 143.37 as of 5pm in Tokyo (3pm Bangkok), with all 10 industry groups rising. The measure has increased 9.8 per cent so far this year amid speculation the Bank of Japan will deploy more measures to beat deflation as policymakers in the US and Europe remain on standby to buoy growth.

"Markets are driven by heightened stimulus," said Matthew Sherwood, Sydney-based head of investment market research at Perpetual, which manages about $25 billion.

"Economic data remain in the Goldilocks range - weak enough to warrant continued stimulus, but strong enough to keep earnings expectations positive," Sherwood said.

Of the 123 companies on the Asia-Pacific gauge that have reported quarterly earnings in the past four weeks, and for which Bloomberg has estimates, 54 per cent have missed projections, according to data compiled by Bloomberg.


-- The Nation 2013-05-09

[Joe Mamma]

Is a trend formulating before our very eyes? And is it possible the global gloom is clearing?

[yoshiwara]

Is a trend formulating before our very eyes? And is it possible the global gloom is clearing?

There will only be an all-clear when the FRB feels confident to taper off the QE measures

[IAMSOBAD]

Please PM me if you have a broker in BKK for trading SET.

Any help is much appreciated!

[yoshiwara]

Try http://www.bualuang.co.th/en/index.php

[IAMSOBAD]

Thank you I have a bank account with them for using the NY money transfer.

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

[yoshiwara]

A friend of mine just visits one of their offices when he wants to trade.

There are PCs sitting around to have a look at stocks during trading hours and plenty of geezers hanging about to make suggestions while you help yourself to free coffee.

[Phronesis]

A friend of mine just visits one of their offices when he wants to trade.

There are PCs sitting around to have a look at stocks during trading hours and plenty of geezers hanging about to make suggestions while you help yourself to free coffee.

And don't forget the hot female staff...

[IAMSOBAD]

I'm in BKK now...any branch here like that?

I love advice...free coffee and hot and cold running women.

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

[yoshiwara]

Click on 'contact us' for list of branches.

[IAMSOBAD]

Yoshiwara...today I went to Soi 33 K Bank and the trader there gave me some good tips on medical stocks that she felt were very strong due to ASEAN and huge numbers of rich Arabs having expensive surgeries.

She actually called Bangkok the HUB for ASEAN medicine between now and 2015 and then beyond.

I didn't find a place in SCB....Bangkok bank or K bank with coffee...computers or farang trading in BKK.

Maybe its a Pattaya thing.

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app

Edited May 13, 2013 by IAMSOBAD

[yoshiwara]

You checked these? http://www.bualuang.co.th/en/c_ho_branch.php

[IAMSOBAD]

I'm going to Emporium office tomorrow for BKK Bank.

Thank you.

Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app