ID :
199751
Mon, 08/08/2011 - 10:55
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http://m.oananews.org//node/199751
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Thai economy's long term prospect remains sound
BANGKOK, August 8 (TNA) - Thailand has not yet been affected by the current debt crisis in the United States and Europe and the Thai economy's long term prospect remains sound.
Stock Exchange of Thailand (SET) President Jaramporn Chotikasatien confirmed on Monday that impacts from the US and European debt crisis have not yet stretched into the Thai economy, suggesting that international investors should not be panic but to take Thailand's long term, strong economic fundamentals into account instead.
Jaramporn said that SET has, however, closely monitored impacts from capital movements worldwide amid the ongoing financial crisis in the US and European economies, although it is now too early to assess impacts from the capital inflows into Asia, including Thailand.
The SET chief's remarks were in response to falling stock indices across the region by 1-2 per cent since late last week due to international investors' concerns over the fragile world economy, after US-based Standard & Poor's (S&P), a globally-renowned credit rating agency, has downgraded the US long term economic potential by one notch to AA+, from AAA, the first time in the history amid its debt crisis and budget shortfalls. The SET composite index further plummeted 21.55 points to 1,071.83, a lowest level, during Monday morning's trading, after nose diving 30.63 points or 2.73 per cent to close at 1,093.38 points last Friday.
Meanwhile, Krung Thai Asset Management Public Company limited (KTAM) reported that international investment in gold, a safest financial haven, has, on the other hand, kept rising amid vulnerable global currency markets in the wake of the US and European debt crisis. (TNA)
Stock Exchange of Thailand (SET) President Jaramporn Chotikasatien confirmed on Monday that impacts from the US and European debt crisis have not yet stretched into the Thai economy, suggesting that international investors should not be panic but to take Thailand's long term, strong economic fundamentals into account instead.
Jaramporn said that SET has, however, closely monitored impacts from capital movements worldwide amid the ongoing financial crisis in the US and European economies, although it is now too early to assess impacts from the capital inflows into Asia, including Thailand.
The SET chief's remarks were in response to falling stock indices across the region by 1-2 per cent since late last week due to international investors' concerns over the fragile world economy, after US-based Standard & Poor's (S&P), a globally-renowned credit rating agency, has downgraded the US long term economic potential by one notch to AA+, from AAA, the first time in the history amid its debt crisis and budget shortfalls. The SET composite index further plummeted 21.55 points to 1,071.83, a lowest level, during Monday morning's trading, after nose diving 30.63 points or 2.73 per cent to close at 1,093.38 points last Friday.
Meanwhile, Krung Thai Asset Management Public Company limited (KTAM) reported that international investment in gold, a safest financial haven, has, on the other hand, kept rising amid vulnerable global currency markets in the wake of the US and European debt crisis. (TNA)
