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  • SET Tanks

    ...moved a largish bundle into the market yesterday...will buy more if market falls again today: great sale of solid stock names..."you buy when there's blood in the streets"...

    Thai stocks slide most in 11 years https://www.bangkokpost.com/business...st-in-11-years

    AoT shares lead losses, plunging 12%

    PUBLISHED : 12 MAR 2020 AT 18:52



    A woman waits for a train at Hua Lamphong station on March 5, 2019. The coronavirus spread continues to put pressure on the Stock Exchange of Thailand index on Thursday. (Photo by Chanat Katanyu)

    Thai stocks posted their steepest slide since 2006, extending losses as trading resumed following a halt triggered by a circuit breaker when losses reached 10%.



    The index ended 134.98 lower, or 10.8%, to close the day at 1,114.91 in heavy turnover of 101 billion baht. Institutional investors led the sell-off, with a net 4.6 billion baht, followed by brokers at 4.07 billion baht and foreign investors at 1.9 billion baht. Small investors bought a net 10 billion baht.


    The trading circuit breaker was triggered as the index fell by 10% when the afternoon session resumed.




    The Public Health Ministry said on Thursday that confirmed cases of the disease known as Covid-19 jumped by 11 to 70, the biggest increase in recent days.

    Separately, a gauge of consumer confidence for February fell to its lowest level since April 1999 as the virus, a delay in the annual government budget and a drought eroded sentiment, according to the University of the Thai Chamber of Commerce.


    Thailand has buckled under a collapse in tourism, a sector that accounts for about one-fifth of gross domestic product. The government this week approved a package of stimulus measures that it said will inject about 400 billion baht to counter the blow from the coronavirus outbreak.


    The Finance Ministry and stock exchange officials are working on a fund to be set up to shore up the stock market, Deputy Prime Minister Somkid Jatusripitak said, adding that it was not as easy to establish such a vehicle as in past years because the market came under pressure.


    Elsewhere in the region, the stock markets went from bad to worse. After most gauges tumbled into bear territory in the last few weeks, now the plunge is triggering trading halts.


    Like Thailand, the circuit breaker was also triggered in the Philippines after the benchmark gauges of both countries slumped 10%, the most in Asia.


    Indonesia, where the stock exchange just tightened its rules, also suspended trading as the Jakarta Composite Index fell 5%.

    Both the SET Index and the Philippine Stock Exchange Index tanked the most since October 2008, as foreign investors liquidated their equity holdings fast in a region heavily reliant on tourism and with open capital accounts.




    Currencies there were also hit hard. The Indonesian rupiah led a decline, plunging 1% against the US dollar, while the Philippine peso and the baht dropped more than 0.7%. The baht and the rupiah are the two worst-performing currencies this year in Asia. Indonesia has also seen global funds dump $2.8 billion of its debt.



    Among the Southeast Asian countries, Indonesia has been the most proactive in providing stimulus to curb asset price declines. It has eased buyback rules, imposed trading limits and put a short-selling ban in place, while its central bank has cut reserve ratios and signaled more measures to stem a rout in the rupiah and bonds.



    Last edited by harrymsmarkle; 03-13-2020, 06:02 AM.

  • #2
    Safer to wait.

    3688D51C-A085-436E-9FB0-EB81D8F78ED5.jpg
    I visited TC a few times as a guest but had to stop. It is a sickening place. - Aging One

    Comment


    • #3
      Originally posted by lamphun View Post
      Safer to wait.

      [ATTACH=CONFIG]8910[/ATTACH]
      Buy the Dip. It's coming.
      God, the panic within the Dems, MSM, and left must be horrifying...realizing that Joe is really the best they've got.

      Comment


      • #4
        Originally posted by lamphun View Post
        Safer to wait.

        [ATTACH=CONFIG]8910[/ATTACH]
        ...market timing is not a recommended investment strategy...rather spaced investments are a good way to enter the market and still sleep at night...

        Comment


        • #5
          Originally posted by Boon Mee View Post
          Buy the Dip.
          ...you for sale?...

          Comment


          • #6
            Originally posted by harrymsmarkle
            moved a largish bundle into the market yesterday...will buy more if market falls again today: great sale of solid stock names..."you buy when there's blood in the streets"...
            Originally posted by harrymsmarkle View Post
            ...market timing is not a recommended investment strategy...rather spaced investments are a good way to enter the market and still sleep at night...
            Make your mind up....
            I visited TC a few times as a guest but had to stop. It is a sickening place. - Aging One

            Comment


            • #7
              ...it's made up: start buying when there's blood in the streets (sometimes even a few drops is enough to start the flow); keep buying regularly as the market continues to fall; stop buying when the market rises...looks like I'll be buying again today...

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