ID :
144200
Wed, 09/29/2010 - 11:08
Auther :
Shortlink :
http://m.oananews.org//node/144200
The shortlink copeid
Top securities executive disagrees with move to control capital influx
BANGKOK, Sept 29 – Federation of Thai Capital Market Organizations chairman Paiboon Nalinthrangkurn on Tuesday voiced his objection to the possible imposition of measures to control the foreign capital inflow, saying most capital had flowed into the real economic sector, not the capital market.
From now on, he said, foreign capital is expected to slow flowing into the stock market and the secondary market since returns are set to decline thanks to a strong rally in the Stock Exchange of Thailand (SET) composite index by up to 300 points in the past three months.
At the same time, returns in the secondary market are likely to decrease when capital flows in the market in a large volume.
Mr Paiboon, who is also chief executive officer of Tisco Securities Co, said the capital flowing into the capital market since early this year totaled US$1 billion and that in the secondary market amounted to $5.68 billion while that in the real sector was around $10 billion, most of which stemmed from export revenues and foreign direct investment (FDI).
Given the figures, he concluded, the baht surge by over 9 per cent since early this year came from the capital inflow into the real sector, not the capital market. Because of this, he did not agree with any move to control the capital inflow. (MCOT online news)
From now on, he said, foreign capital is expected to slow flowing into the stock market and the secondary market since returns are set to decline thanks to a strong rally in the Stock Exchange of Thailand (SET) composite index by up to 300 points in the past three months.
At the same time, returns in the secondary market are likely to decrease when capital flows in the market in a large volume.
Mr Paiboon, who is also chief executive officer of Tisco Securities Co, said the capital flowing into the capital market since early this year totaled US$1 billion and that in the secondary market amounted to $5.68 billion while that in the real sector was around $10 billion, most of which stemmed from export revenues and foreign direct investment (FDI).
Given the figures, he concluded, the baht surge by over 9 per cent since early this year came from the capital inflow into the real sector, not the capital market. Because of this, he did not agree with any move to control the capital inflow. (MCOT online news)
