ID :
209135
Sat, 09/24/2011 - 09:57
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Shortlink :
http://m.oananews.org//node/209135
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SET won’t issue special measures
BANGKOK, September 24 (TNA) - The Stock Exchange of Thailand (SET) does not have any plan to issue special measures in the immediate future although the SET index has plummeted in the wake of foreign investors' heavy sell-offs of Thai shares to invest in overseas government bonds instead, as they were worried over the sluggish economy in the United States and European countries.
SET President Jarumporn Chotikasathien told a press conference of the decision after the SET index plunged to 940.42 at about noon on Friday, down 50.17 points or 5.06 per cent from its Thursday’s closing, before closing at 958.16, down 32.43 points, or 3.27 per cent on Friday evening.
Jarumporn said he had held talks with Finance Minister Thirachai Phuvanatnaranubala and Bank of Thailand Governor Prasarn Trairatvorakul and all had agreed that there was still no need to issue any special measures to help stop the Thai stock market from further falling, noting that the SET would be allowed to move in line with the market mechanism.
Meanwhile, the net sell-off of Thai stocks by foreign investors has totalled some 31 billion baht since the beginning of this year. But it is expected that the foreign investors will resume investing on Asian bourses, including on the Thai stock market once the global economy improves, thanks to strong fundamentals of the Asian stock markets and the more favourable regional economy. (TNA)
SET President Jarumporn Chotikasathien told a press conference of the decision after the SET index plunged to 940.42 at about noon on Friday, down 50.17 points or 5.06 per cent from its Thursday’s closing, before closing at 958.16, down 32.43 points, or 3.27 per cent on Friday evening.
Jarumporn said he had held talks with Finance Minister Thirachai Phuvanatnaranubala and Bank of Thailand Governor Prasarn Trairatvorakul and all had agreed that there was still no need to issue any special measures to help stop the Thai stock market from further falling, noting that the SET would be allowed to move in line with the market mechanism.
Meanwhile, the net sell-off of Thai stocks by foreign investors has totalled some 31 billion baht since the beginning of this year. But it is expected that the foreign investors will resume investing on Asian bourses, including on the Thai stock market once the global economy improves, thanks to strong fundamentals of the Asian stock markets and the more favourable regional economy. (TNA)
