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209491
Mon, 09/26/2011 - 14:34
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http://m.oananews.org//node/209491
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DPM: Thailand's economic fundamentals remain strong
BANGKOK, September 26 (TNA) - Deputy Prime Minister Kittirat Na-Ranong affirmed Monday that Thailand's economic fundamentals remain strong, urging investors not to be panic over falling Thai stock prices over the past couple of days.
In response to Thai Prime Minister Yingluck Shinawatra's concerns over the plunge of Thai stock prices since late last week, Kittirat, who is also the incumbent Commerce Minister, told an economic and investment seminar that he and other agencies concerned, including the Stock Exchange of Thailand (SET) and the Thai Ministry of Finance, have monitored movements of the Thai shares prices to always keep pace with the updated situation and found that the Thai bourse remains stable, in line with the strong national economic fundamentals.
Kittirat, who is also a former SET president, assessed that the falling Thai share prices should have been caused by foreign investors' worries over alleged ineffective measures of the US and the European governments to ensure their confidence in investment plans on global stock markets, amid the ongoing debt crisis in the world powerful economies.
The Thai deputy premier said he believed that investors could take profits in the near future if they bought low-priced shares at the moment.
The Thai deputy premier's comments were echoed by a top securities executive, Praphat Tanpiboonsak, who pointed out that Thai stock prices have dropped by some 10 per cent, compared with some 15-25 per cent of those on other stock markets in the region over the past couple of months, projecting, however, that Thai stock prices would close lower at the end of this year, at about 1,033 points, from about 1,200 points earlier targeted. (TNA)
In response to Thai Prime Minister Yingluck Shinawatra's concerns over the plunge of Thai stock prices since late last week, Kittirat, who is also the incumbent Commerce Minister, told an economic and investment seminar that he and other agencies concerned, including the Stock Exchange of Thailand (SET) and the Thai Ministry of Finance, have monitored movements of the Thai shares prices to always keep pace with the updated situation and found that the Thai bourse remains stable, in line with the strong national economic fundamentals.
Kittirat, who is also a former SET president, assessed that the falling Thai share prices should have been caused by foreign investors' worries over alleged ineffective measures of the US and the European governments to ensure their confidence in investment plans on global stock markets, amid the ongoing debt crisis in the world powerful economies.
The Thai deputy premier said he believed that investors could take profits in the near future if they bought low-priced shares at the moment.
The Thai deputy premier's comments were echoed by a top securities executive, Praphat Tanpiboonsak, who pointed out that Thai stock prices have dropped by some 10 per cent, compared with some 15-25 per cent of those on other stock markets in the region over the past couple of months, projecting, however, that Thai stock prices would close lower at the end of this year, at about 1,033 points, from about 1,200 points earlier targeted. (TNA)
