Royal Approval for 23 Gambling Activities, Including Bull Races and Mahjong

[David48]

SET Down yesterday, had fallen by 36 points, almost 2¹/₂ %

Any thoughts why the sharp one day fall?

Any particular news that caused this do you think?

OH ... for all the nay-sayers that the SET is wildly overvalued ...

I'm sure your opinion has already been voiced somewhere.

So just looking for the cause and effect of yesterdays drop.

Thanks ...

[Jasun]

A bit of profit taking, and concern over local politics with the house committee considering the amnesty bill yesterday.

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[ajarnpot]

capital flow out of country maybe?

[Tywais]

http://www.thaivisa.com/forum/topic/676294-thai-khmer-dispute-team-of-lawyers-to-review-icj-ruling/

[Dr Robert]

Bloomsberg-today:By Anuchit Nguyen

Thailands stocks fell the most in a month, with the benchmark index posting the biggest drop worldwide, amid speculation that a bill granting amnesty for political offenses will spur protests against the government.

“Investors are concerned the ruling coalition’s attempt to pass a revised amnesty bill will revive tension,” Kasamapon Hamnilrat, the head of research at Krungsri Securities Co. in Bangkok, said by phone. “Without this concern, Thai stocks should gain as most overseas factors are positive"

I think that is it in a nutshell David

[kblaze]

the amnesty bill; it would clear taksin of all charges and give his money back too. AND they are going to debate it one week earlier than they were, starting this thursday. markets scared because theres no doubt this will trigger mass protests. if it doesn't...well then all hope is lost for this country lol

[David48]

Great posts ... thanks to all ...

[PeterSmiles]

They are taking a step back so they have a bigger run up to the 1700 Points sprint, which was announced a few days ago

[PeterSmiles]

SET Down yesterday, had fallen by 36 points, almost 2¹/₂ %

But don't worry they are manipulating it already recovering today with a further decline of almost - 0.5% in the morning reversed to an almost 3% rise already by noon, while the rest of Asia is in the negative

[Tywais]

Post with link to Bangkok Post removed.

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[brit1984]

^ sorry tywais - i had forgotten about that - basicly the article said it was due to perceived domestic political instability

[davejones]

No-one knows is the answer. People only make up reasons after the event. If it was so easy to know, then these people would be making stacks of money. More sellers than buyers, but you'd have to ask each seller why the sold. I bet there are lots of reasons. Often it's just a mixture of things, but you'll never know the exact reason. SET doesn't always go down in these situations, why how can hey say it's a reason this time. What they mean is that they have no idea, but this political thing is happening, so may as well blame that.

[brit1984]

^ any decent financial journalist can get a good idea of the main reasons for movements in the price by speaking directly with the key institutional investors and/or indirectly by speaking with the equity research analysts (who are on the phone with the funds all day)

[davejones]

^ any decent financial journalist can get a good idea of the main reasons for movements in the price by speaking directly with the key institutional investors and/or indirectly by speaking with the equity research analysts (who are on the phone with the funds all day)

I doubt they would tell journalists what they're thinking. What do you expect them to say, that they had an insider tip and bought a load of shares, thus pushing the index up?

I know a trader who regulars answers questions from such journalists and it just makes anything up. For example, if employment rose and shares fell, he'd say that they fell because unemployment was up. But if shares were up that day he'd just say they rose because unemployment figures could have been worse but won't. If they knew the reasons, they'd know beforehand, but they don't. Just look at the chart some day. Unemployment could be up (announcement in morning), then shares are up all day and fall right at end of day. But unemployment figures are still blamed for the fall even though shares rose after the announcement. Looking for reasons is mostly futile, as there are too many players involved. One institution may sell on a piece of news while another may buy. So which one do you propose asking?

[brit1984]

^ davejones - i don't want to be a knob about this but the equity investment community (i.e. the market) does not consist solely of lots of small prop traders secretively trading on their own accounts

i get your point that those who are trading illegally on insider information probably don't like to tell too many people what they are doing, but that is not the only factor that drives stock prices up/down

a lot of information sharing / discussion goes on and reading the financial press is a good way for outsiders to understand share price movements and to get a general sense of market sentiment

but i suppose you dont waste time reading news as you "know a trader" so can just call him directly and he will tell you (but not the FT) whats really going on

good luck mate

[puukao]

more aggressive sellers!!! haha. anyhow, that sell-off means nothing on a technical basis. ask when below 1375, and then worry slightly under 1350. However, both those levels are decent support now. in fact, you can just keep buying and set an alert under 1240. yea, that far away. so, i call the SET in a period of "long-term long liquidation capital appreciation mode." that means buy all dips and don't sell just yet. i have a feeling we see 1530 again in a few months, so no worries.

*note: everything i said could be absolute rubbish and taken with a grain of salt. use the information wisely, and don't sell this on ebay for less than 10 million baht.

[yoshiwara]

Ah, yesterday....day traders can tell you all about yesterday. The real action is what one does when the markets are open.

[David48]

Speaking of the SET being open ...

Dear Clients,

Please be advised that October 23, 2013 is our public holiday (King Chulalongkorn Memorial Day). Consequently, The Stock Exchange of Thailand (SET), The Market for Alternative Investment (MAI), The Thailand Futures Exchange (TFEX) will be closed on this coming Wednesday.