webfact Posted November 13, 2013 Share Posted November 13, 2013 DOUBLE IMPACTSForeigners pull money out of Thai stocks and bondsThe NationA foreign tourist yesterday crosses a street where anti-government protesters at Democracy Monument. (EPA photo)BANGKOK: -- Foreign investors' extended retreat has raised their net-sell position in the Thai stock market so far this month to Bt18.7 billion, amid the raging political chaos at home and rising volatility in the global financial market.Yesterday alone, foreign investors sold Thai shares worth Bt10.2 billion against purchases of Bt5.9 billion, resulting in net sales of Bt4.28 billion. This followed the Bt3.3 billion in net sales on Tuesday and over Bt1 billion on Monday. The year-to-date net-sell has ballooned to Bt123.95 billion. Global funds have also pulled some investment from Thai equities this month.The baht opened at 31.61 per US dollar before closing at 31.60. On Monday, it fell as far as 31.705, the weakest level since September 18. The baht has given up 1.5 per cent over the past two weeks.Besides the prolonged political protests, and despite the call from the private sector for all demonstrations to end, the baht was also marching along with other Asian currencies as investors waited for a clearer sign on the beginning of "tapering" in the US.New Federal Reserve chairwoman Janet Yellen will appear before US senators today to defend her nomination as Fed policy-makers debate whether the stimulus policy known as quantitative easing is still needed to shore up the world's largest economy.The greenback rose against the Singaporean dollar, Taiwanese |dollar, South Korean won, Indian rupee and Philippine peso.World Bank President Jim Yong Kim said on Tuesday in Washington that emerging markets are likely to see considerably more impact from higher US interest rates when the Fed pulls back from its massive monetary stimulus.In May, then Fed chairman Bernanke shocked emerging markets when he raised the possibility that the US central bank could soon embark on a drawdown in its bond-buying programme. Thailand, Malaysia and Indonesia were particularly hard hit by capital outflows after Bernanke's comment."We think we've seen about a third of the overall increase in interest rates responding to that first announcement," Kim said."As US interest rates go up, what we're going to see is it will be even more difficult to get access to the kind of capital for infrastructure investment that developing economies need."Prasarn Trairatvorakul, governor of the Bank of Thailand, insisted that there was no irregularity in capital outflows from the country. Movements in the stock and bond markets as well as in foreign exchange rates remained "orderly". There was no special concern that required action from the central bank."Overall, the condition is in order," he said, implying that all the proceeds from the dumping of Thai shares and bonds have not yet left the country.Foreign investors are just keeping a close eye on the unfolding political situation.-- The Nation 2013-11-14 1 Link to comment Share on other sites More sharing options...
Popular Post PaullyW Posted November 13, 2013 Popular Post Share Posted November 13, 2013 Good. Pull it all out, and let's see if Thais continue with their unfounded arrogance. 51 Link to comment Share on other sites More sharing options...
Popular Post peterbkk9 Posted November 13, 2013 Popular Post Share Posted November 13, 2013 Good. Pull it all out, and let's see if Thais continue with their unfounded arrogance. Exactly what I was thinking 8 Link to comment Share on other sites More sharing options...
Thainy Tim Posted November 13, 2013 Share Posted November 13, 2013 It is not just the foreigners that are pulling their investment out of Thailand. My Thai father in law has also done the same. Especially his millions he put into government bonds. He fears the government banks holding his money will go bust. 1 Link to comment Share on other sites More sharing options...
Popular Post casindonet Posted November 14, 2013 Popular Post Share Posted November 14, 2013 Where's Mr. White Lies when you need him? As usual, Thailand is different will be his answer. 3 Link to comment Share on other sites More sharing options...
Bender Posted November 14, 2013 Share Posted November 14, 2013 World Bank President Jim Yong Kim said on Tuesday in Washington that emerging markets are likely to see considerably more impact from higher US interest rates when the Fed pulls back from its massive monetary stimulus. so when the FED will stop their stimulus? When all these greedy #&%% traders will take away their billionout of the country. So some here will enjoy again 75 baht to the pound or 44 baht to the dollar? When??? ps: dont dream as it will never happen again 1 Link to comment Share on other sites More sharing options...
Popular Post draftvader Posted November 14, 2013 Popular Post Share Posted November 14, 2013 Good. Pull it all out, and let's see if Thais continue with their unfounded arrogance. I don't want to agree with the sentiment but I have to say that I have experienced so much lying (or ignorance) in business here (accounting, project figures, etc) that I wouldn't invest in certain countries in this region as I don't know when we'll discover the lies and see the value of shares plummet as accounts are reconciled. I have experienced numerous businesses that won't listen to conventional wisdom. I have one experience where a friend has listened and their business has seen steady accountable growth for 3 years now (he was at the point of quitting). It looks like I agree, it is just the slightly poorly qualified "Thais" that disturbs me. Maybe "some Thai businesses" would have been better. 3 Link to comment Share on other sites More sharing options...
Popular Post Somtamnication Posted November 14, 2013 Popular Post Share Posted November 14, 2013 The ship is starting to sink...... Money is the only thing Thais understand. Let's hope they understand what this means. 5 Link to comment Share on other sites More sharing options...
moe666 Posted November 14, 2013 Share Posted November 14, 2013 Good. Pull it all out, and let's see if Thais continue with their unfounded arrogance. I don't want to agree with the sentiment but I have to say that I have experienced so much lying (or ignorance) in business here (accounting, project figures, etc) that I wouldn't invest in certain countries in this region as I don't know when we'll discover the lies and see the value of shares plummet as accounts are reconciled. I have experienced numerous businesses that won't listen to conventional wisdom. I have one experience where a friend has listened and their business has seen steady accountable growth for 3 years now (he was at the point of quitting). It looks like I agree, it is just the slightly poorly qualified "Thais" that disturbs me. Maybe "some Thai businesses" would have been better. I guess they couldn't be any worse than Madoff or the home mortage scam in 2008. Link to comment Share on other sites More sharing options...
moe666 Posted November 14, 2013 Share Posted November 14, 2013 Most of the money came out when the fed first mentioned they would slow down there big bond buying scheme several months back.Off shore money has come back slowly but not at the levels before the easing announcement. The Thai Set is like any market buy the good quality companies and you should make money over time, I doubled my initial investment in the set in 3 years Link to comment Share on other sites More sharing options...
thailiketoo Posted November 14, 2013 Share Posted November 14, 2013 (edited) The ship is starting to sink...... Money is the only thing Thais understand. Let's hope they understand what this means. http://www.bloomberg.com/quote/SET:IND 52-Week Range: 1,260.08 - 1,649.77 Day Range: 1,403.07 - 1,414.04 Year To Date: +3.94% 1-Year: +13.18% Edited November 14, 2013 by thailiketoo 1 Link to comment Share on other sites More sharing options...
jdinasia Posted November 14, 2013 Share Posted November 14, 2013 If we get a 20% drop I'll start buying again Link to comment Share on other sites More sharing options...
Popular Post worgeordie Posted November 14, 2013 Popular Post Share Posted November 14, 2013 Bloody foreigners,why can they not just leave their money here, shut up,and leave us alone, we know what we are doing,most likely what the government is thinking,even though they wont say it. regards Worgeordie 4 Link to comment Share on other sites More sharing options...
Lupatria Posted November 14, 2013 Share Posted November 14, 2013 Where's Mr. White Lies when you need him? As usual, Thailand is different will be his answer. Here we go: Rate Topic 1 votes Foreign investors sure Thailand will tide over political difficulties Started by webfact, Today, 06:08 Link to comment Share on other sites More sharing options...
Carl64 Posted November 14, 2013 Share Posted November 14, 2013 i wonder who is buying all the stocks then????? Link to comment Share on other sites More sharing options...
BuffaloRescue Posted November 14, 2013 Share Posted November 14, 2013 What has a the photo of the tourist got to do with anything? 1 Link to comment Share on other sites More sharing options...
mca Posted November 14, 2013 Share Posted November 14, 2013 A bit of light relief http://notthenation.com/2013/04/stock-market-correction-delights-poorest-stupidest-expats/ 2 Link to comment Share on other sites More sharing options...
rebelplatoon Posted November 14, 2013 Share Posted November 14, 2013 Ah well, let's charge every tourist an extra 500B. That'll help. Especially with the upcoming political problems and the dark cloud over Prae Vihar. Link to comment Share on other sites More sharing options...
ridkun Posted November 14, 2013 Share Posted November 14, 2013 i wonder who is buying all the stocks then????? Thais who know Thai politics, know what they are doing and know it's time to buy cheap stuff. Link to comment Share on other sites More sharing options...
harryfrompattaya Posted November 14, 2013 Share Posted November 14, 2013 i wonder who is buying all the stocks then????? I beg to differ Le Roy and I are buying yes we sold when the set was about 1640 in May I told you many did not believe Now is the time to buy The SET is like getting money for free Buy Buy Buy Do not be afraid And remember you can buy in your name not like at house 2 Link to comment Share on other sites More sharing options...
TechnikaIII Posted November 14, 2013 Share Posted November 14, 2013 i wonder who is buying all the stocks then????? Thaksin ? Link to comment Share on other sites More sharing options...
thhMan Posted November 14, 2013 Share Posted November 14, 2013 What has a the photo of the tourist got to do with anything? Its part of the lazy attitude they posses... Couldn't be bothered to do their job properly... 1 Link to comment Share on other sites More sharing options...
Popular Post HeavyDrinker Posted November 14, 2013 Popular Post Share Posted November 14, 2013 'Curse them pesky foreigners.....its ALWAYS their fault and never our fault for utterly failing to educate our kids in important World Issues and electing and supporting these ludicrous regimes... 4 Link to comment Share on other sites More sharing options...
me313 Posted November 14, 2013 Share Posted November 14, 2013 $$$ as political manipulation--an old game. Things will go back to "normal" once the agenda has been set... Link to comment Share on other sites More sharing options...
Card Posted November 14, 2013 Share Posted November 14, 2013 Good. Pull it all out, and let's see if Thais continue with their unfounded arrogance. I don't want to agree with the sentiment but I have to say that I have experienced so much lying (or ignorance) in business here (accounting, project figures, etc) that I wouldn't invest in certain countries in this region as I don't know when we'll discover the lies and see the value of shares plummet as accounts are reconciled. I have experienced numerous businesses that won't listen to conventional wisdom. I have one experience where a friend has listened and their business has seen steady accountable growth for 3 years now (he was at the point of quitting). It looks like I agree, it is just the slightly poorly qualified "Thais" that disturbs me. Maybe "some Thai businesses" would have been better. I guess they couldn't be any worse than Madoff or the home mortage scam in 2008. Or the Libor scam, rogue traders and money laundering. 1 Link to comment Share on other sites More sharing options...
metisdead Posted November 14, 2013 Share Posted November 14, 2013 An off topic post has been removed. Link to comment Share on other sites More sharing options...
thaistocks Posted November 14, 2013 Share Posted November 14, 2013 But this is a & exaggerated if not outright nonsense news headline, I mean where are these global investors going to instead? The indebted no growth West, at similar valuation matrixes but then with very little or no dividends? Or washed out gold? Or 0-1% returns on US$, itself a currency with a questionable future. Thai listed companies overall have very little debt and clean balance sheets. Their earnings growth rates are double it not triple those of the developed countries and corporate income taxes here have just been cut 1/3 over the past 2 years. So profit margins are on the up, overall. Political squabbling and commotion is the norm here for decades and does not affect much or for long, as is shown in the long past. The just past events if anything are positive as they show the masses won't put up with pardon's for past ill behavior. Ha its a buying opportunity, watch and see and learn. Link to comment Share on other sites More sharing options...
diggledunc Posted November 14, 2013 Share Posted November 14, 2013 There was an interesting article last week posted by somebody that had a link to Forbes magazine. The title of the post was something like the bubble bursting. Fascinating reading. Apologies to the kind poster whose name I have forgotten. If you can find it, it shows so much statistical information to back up the hypothesis put forward and opinion. It also gave opinions of three Thai businessmen caught up in the 1997 debacle. For expats with currency coming in it pointed the way forward for exchange rates and really pulled the rug from under Yingluck's populist policies. Link to comment Share on other sites More sharing options...
johnopolo Posted November 14, 2013 Share Posted November 14, 2013 The really stupid people around here are those playing the Thai Bashing game in these forums (and elsewhere). Every communication you make on the Internet and via your mobile phone is intercepted and analysed. They know who you are and where you live and your passport number too. It's not only the NSA that's doing it. You are the real morons! 1 Link to comment Share on other sites More sharing options...
metisdead Posted November 14, 2013 Share Posted November 14, 2013 A post in violation of this forum rule has been removed: 31) Bangkok Post do not allow quotes from their news articles or other material to appear on Thaivisa.com. Neither do they allow links to their publications. Posts from members containing quotes from or links to Bangkok Post publications will be deleted from the forum. Please note that this is a decision by the Bangkok Post, not by Thaivisa.com and any complaints or other issues concerning this rule should be directed to them. Quotes from and links to Phuketwan are also not allowed and will also be removed. In special cases forum Administrators or the news team may use these sources. Link to comment Share on other sites More sharing options...
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