|
Banks lead SET to post-Thaksin low Tavivoot Chulavachana editor at large - bday.net 16.3.01 - THE Stock Exchange of Thailand (SET) fell to the lowest point yesterday since Thaksin Shinawatra, the new prime minister, took office on February 9. But most analysts said regional and global issues dominate the SET, and that Thaksin`s policies are not to blame. "Asia is going to catch a cold if global markets aren`t healthy. Right now the world is nervous. The economy in the US is slowing down and the issue is whether it will be in a slump," said Frank Chiang, who helps manage US$1 billion in emerging market stock at Montgomery Asset Management, which has about 20 percent of its funds invested in technology stocks and another 20 percent in financial stocks. Yesterday the SET fell 1.28 percent to 296.10, on volume of about 5.5 billion baht, with bank stocks heading the decline. Thai Farmers Bank was off 0.50 baht to 22.75 and Bangkok Bank was off 0.75 baht to 38 baht. Foreigners continued to be net sellers for the third day in a row. Despite most Asian markets rebounding yesterday, the SET still took a dive, based on little good news on the local front, according to Verachai Krongsamsri, analyst at UOB Securities. However, according to Salomon Smith Barney head Asian strategist, Han Ong, equities markets mutual funds still look to be in good position to attract funds. "On the positive side, there is clearly a growing weight of money as central banks are reflating rapidly. This liquidity is likely to flow into funds. There is a tug of war between falling interest rates and downgrades in earnings and compounding a perception that the Fed was behind the curve on interest rate reduction," Ong said. |
|
| aus der Diskussion: | Waste or make money in Thailand |
| Autor (Datum des Eintrages): | BodyG (16.03.01 05:56:49) |
| Beitrag: | 549 von 611 (ID:3112624) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |