Cricuit Breake On Set Tripped

[monty]

SET will temporarily halt trading due to Circuit Breaker

As the SET index decrease by 74.06 points (10.14%) of prior

index close, in accordance with its authority under Clause 15

of the SET Regulation on Trading, Clearing and Settlement for

Listed Securities (No.2), 1999 specified that

In the case that the SET Index changes within the authorized scale,

the trading system will suspend all tradings in the following cases

and for the following period:

1. In the case where the SET Index in any day decreases by 10%

of the SET Index on the immediately preceding trading day,

the trading system will suspend for 30 minutes.

2. In the case where the SET Index in any day decreases by 20%

of the SET Index on the immediately preceding trading day,

the trading system will suspend for one hour.

Therefore the SET will temporarily halt trading for 30 minutes

during 11.29 AM. - 11.59 AM. The trading system will pre-open again

at 11.49 AM and open at 11.59 AM.

source:

http://www.set.or.th/set/newsdetails.do?fi...amp;language=en

[pumpuiman]

Wow.....must be a lot of worried traders waiting. Big day today. I'm watching the live exchange rates...up..up..we go.

[farangene]

Wow.....must be a lot of worried traders waiting. Big day today. I'm watching the live exchange rates...up..up..we go.

Will you post the URL where you can view live rates. Thanks.

[monty]

The 30 minute halt is over, trading has resumed and is dropping again....

Faranggene:

http://www.set.or.th/en/index.html

and for the latest news:

http://www.set.or.th/set/todaynews.do

[cclub75]

What a mess...

Whatever they will come with this afternoon, they have seriously damaged investor's confidence.

[pumpuiman]

http://www.xe.com/ucc/

automatic refresh: http://www.xe.com/crm/

for live mid market rates

Edited December 19, 2006 by pumpuiman

[HenryB]

What a mess...

Whatever they will come with this afternoon, they have seriously damaged investor's confidence.

Yes a mess where are all the traders on this board who talk about The Thai market hitting 800.

What a brunch of fools I guess they drinking in the Bars telling others its only money and thier not worried at the SET shall come back stronger.

What housing fall next

Keep your money in your home country

[monty]

Apparently the first in history the breaker tripped on the SET according to following article:

http://www.nationmultimedia.com/2006/12/19...es_30021951.php

[pumpuiman]

Apparently the first in history the breaker tripped on the SET according to following article:

http://www.nationmultimedia.com/2006/12/19...es_30021951.php

Incredible. I wonder if the decision will be reversed? Perhaps it is too late and the damage has been done.

Baht value dropping, but still not yet 36.00 to USD mid market rate.

[cclub75]

I still bet on a complete U TURN announcement. But because this is thailand, they could surely stick to their "decision".

Anyway, this episode will remain as a perfect "cas d'ecole", that illustrates how thai officials can be narrow minded, and their complete amateurism.

-"Khun Somchai, I'm a thai exporter, I'm not happy because the THB gains value against the dollar. I won't be able to buy my third BMW 700 this year. What can you do for me ?".

-"Don't worry Khun Amnat, we are going to take care of those bloody farang speculators. We are going to announce capital control mesures".

[the following day, the thai stock market dives and lost 20 %]

-"Khun Somchai ! You remember me ? We were classmates in 1924. What is this mess ? I lost 20 % of value on my portfolio. How can I buy my fourth BMW 700 this year ? You tell me !"

-"Okay, okay, Khun Vichai. We are going to... hum.. hum.... mai ruuuuuuuuu !"

[epilogue : the finance minister Khun Somchai was officially "transfered" to the prestigious position of chairman of the sub-committee related to the Defense of Thai Cultural Heritage In Rice Industry.

[Barney_the_Dinosaur]

I for one continue to have full confidence in our governmental overlords.

Some may say "Such a collapse in economic confidence would never have happened under the old lot,"

Not me.

Edited December 19, 2006 by Barney_the_Dinosaur

[Naam]

Baht value dropping, but still not yet 36.00 to USD mid market rate.

*****

i dont' see a drop but a strengthening of the Baht since yesterday's NY close @ 35.99

[Jai Dee]

This story continues in this thread.

/Closed.