The Stock Exchange of Thailand (SET) had once suspended trading for 30 minutes at 11.35am as SET Index fell over 10 percent.
Investors panic sold shares after the Bank of Thailand late last night ordered banks to lock up 30 percent of any new foreign currency depostis which is above USD 20,000 for one year. This move was the recently mosts stringent imposed measures to curb sharp baht's appreciation to a nine-year high.
EON Capital Securities, Head of Research, Pong Teng Siew said to Bernama that "Capital control in Thailand is believed to be a signal for Foreign investors to cash out from emerging market.."
Sentiment over short period is expected to be influenced by this issue. If one sees our capital market development to mid and long run basis, it may be an opportunity to grab some good stocks.
Posts
No comments:
Post a Comment