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  1. #1
    Thailand Expat misskit's Avatar
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    Oil price drop causes Thai stocks to plummet

    BANGKOK(NNT) - Thai stock index today has fallen by some 90 points, or 6 percent, causing concerns among investors. The Stock Exchange of Thailand (SET) says the fall resulted from the drop in global oil prices, claiming the current situation still does not require special measures.


    SET President Pakorn Peetathawatchai commented that the Thai stock index today showed a big drop along with other stock markers around the globe, as they are all affected by the drop in energy stocks of 15 percent, following the fall in the global oil price from 50 U.S. dollar per barrel to $30.


    This massive change in the oil price has caused a fall in stock prices for natural resources and banking. Along with energy stocks, all stocks in these three categories account for some 50 percent of the overall Thai stock exchanges’ market cap.


    The SET president said special measures including a circuit breaker are still not required in the current circumstance, as stock prices have been falling for some time now. He has urged investors to monitor the news closely.


    The SET has filed a report with the Bank of Thailand, the Securities and Exchange Commission, and the Ministry of Finance. A joint committee will be established to find short-term measures to help SMEs affected by the current COVID-19 epidemic, as well as long-term restructuring of capital markets, and ways to increase investment opportunities. Conclusions on these measures are expected to be reached soon.

    http://thainews.prd.go.th/en/news/de...00310095836727

  2. #2
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    bargain time

    I am 100% in cash with my Thai investments

  3. #3
    Thailand Expat jabir's Avatar
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    As usual the markets overreacted, now adjusting, and I think will spike if Putin, the only adult in the room, decides to visit Saudi for a powwow with the new kid on the block; could be high ranking meet, though the situation should warrant a summit.

    Problem is, MbS is no fan of Putin and is also prone to tantrums, but imho Putin is well skilled in brushing aside childish foibles to reach some agreement that allows both sides to ease their mutual distress. Similar to Brexit, it's pointless to navigate toward your own suffering in the expectation that the other side suffers more, so it makes sense to reach agreement.

    If the old King wasn't in the throes of dementia, I reckon he would straighten out his young and arrogant son with a sharp smack, and a reminder that he must prove his worth since the future if not the survival of the Saudi dynasty depends on him, being the first to move the Saudi throne away from the traditional line of succession.

  4. #4
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    Quote Originally Posted by jabir View Post
    If the old King wasn't in the throes of dementia, I reckon he would straighten out his young and arrogant son with a sharp smack, and a reminder that he must prove his worth since the future if not the survival of the Saudi dynasty depends on him, being the first to move the Saudi throne away from the traditional line of succession.
    The current critical situation has not been caused by the kind Royals only, the blame is to direct also on their powerful supporting friends...

  5. #5
    Thailand Expat jabir's Avatar
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    Have you never propped up a friend, even knowing he's a cnut?

  6. #6
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    OPEC+ wanted to throttle the supply of oil to 'stabilise' the market by raising the oil price . . . and Putin said no. Hmm, the murderous thug has his good side

  7. #7
    Thailand Expat jabir's Avatar
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    SET this morning hit it's suspension of trading (-10%) at 09.59 - that's before the market officially opened!

    Will be interesting to see what happens when trading resumes.

  8. #8
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    Quote Originally Posted by panama hat View Post
    OPEC+ wanted to throttle the supply of oil to 'stabilise' the market by raising the oil price . . . and Putin said no. Hmm, the murderous thug has his good side
    Depends if you work in the oil industry or not!

  9. #9
    Thailand Expat jabir's Avatar
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    As usual the media embroider uncomfortable reality by calling it a price war. It isn't a price war; a price war has A undercutting B and B responds by undercutting A, etc. Nothing of the sort.

    And anyway, isn't a price war good for the end user? Who doesn't relish the big high street guns popping off at each other!

    Hey Dragon, you did it again! - SET at 900 could happen soon.

  10. #10
    Thailand Expat jabir's Avatar
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    ...like today, now 973!

  11. #11
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    Quote Originally Posted by Mendip View Post
    Depends if you work in the oil industry or not!
    True, but 99.9999999~ of the world's population doesn't . . .

  12. #12
    Thailand Expat jabir's Avatar
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    Incredible, SET went from -13% (Dow futures c-2%) to +4% (Dow futures 1.6%) in about 30 minutes. Must be some good news....

  13. #13
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    SET @ 900 already? might be good to buy some, but hey, it's panic time, 800 within reach

  14. #14
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    SET @ 1,100 now

    not really a bargain

  15. #15
    Days Work Done! Norton's Avatar
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    Told ya days ago guys. The straw if you recall. Markets will continue to drop for quite some time more.
    I got out of the SET years ago. Way to much insider trading and manipulation.

  16. #16
    Thailand Expat Airportwo's Avatar
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    Quote Originally Posted by Mendip View Post
    Depends if you work in the oil industry or not!
    Exactly, when oil prices are high the world is usually in a good place, apart from the whingers off coarse - there never happy

  17. #17
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    Quote Originally Posted by Airportwo View Post
    Exactly, when oil prices are high the world is usually in a good place, apart from the whingers off coarse - there never happy
    Except it isn't . . . how would you come to that conclusion?

  18. #18
    Thailand Expat Airportwo's Avatar
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    Quote Originally Posted by panama hat View Post
    Except it isn't . . . how would you come to that conclusion?
    It may depend on your perspective, as a O&G worker it always appears fine & Dandy to me

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