Thread: Dow drops 508 points, SET to test 500 barrier

Last Update : 27 Oct 2008 16:04:22

Status : Halt

SET

389.58
-43.29

Originally Posted by Mid

Mr. Thawatchai Asavapornchai, senior vice president, Globex Securities Co., Ltd, attributed the local stock exchange’s continued plummeted on Tuesday to prevailing US financial crisis, coupled with uncertainty in the local political situation, after police dispersed anti-government People’s Alliance for Democracy (PAD) from besieging Parliament’s compound on Tuesday morning to clear path for the Government to declare its policy.

Foreign investors continued their sell off for Thai stocks on Tuesday amounting to 803.99 million baht. The SET index on Tuesday was down 23.09 points or 4.18% to close at 528.71 points.

Chitown goes and checks the exchange rate........pause.....Ok I am back....come on 35!!!!!!!

1.00 USD

=

34.7800 THB

excellent

a large one gov 'n 'ave another yaself

Chi's bin ..............

so trading was halted at 16:04:22

how long for ???

not much good if you hold sterling!

^29^
to the death

^

Last Update : 27 Oct 2008 16:34:35

Status : Open(II)




SET
387.67


-45.20

You wish!

Not sure what happened, trading stopped at -10% just after 4 then resumed after the ATC's went up before 4.30 to close at -10.50%...I'm sure there'll be a logical Thai explanation for that in tomollow's Bangkok Post.

taken for here keda

The Stock Exchange of Thailand: Your Investment Resource for Thailand's Capital Market

I am buying Cathay Pacific on the Hong Kong market. Best value I have seen in a long time. Roughly a buck a share.

Thai bourse halts trade temporarily after index falls 10%

BANGKOK, Oct 27 (TNA) - Trading on the Stock Exchange of Thailand (SET) was suspended temporarily for about 30 minutes on Monday afternoon after the SET index plunged 10 per cent in line with world markets out of concerns of global financial meltdown, dealers said.

The SET index was at 389.58 points, down 43.29 points from last Friday or 10 per cent. Turnover at the time when trade at the market was halted was about Bt10.5 billion.

The sharp decline of 10 per cent in the SET index triggered a so-called "circuit breaker", the second of this month, with the first taking place on October 10.

Stock exchange authorities implemented a call market at 4.35 pm to settle pending orders before the market was temporarily halted. The Thai bourse normally closes at 4.30 p.m.

Thai share prices closed 10.50 per cent lower on Monday. The Stock Exchange of Thailand (SET) composite index fell 45.44 points to close at 387.43 points, while the blue-chip SET-50 index lost 35.23 points to 263.17 points. (TNA)

enews.mcot.net

Originally Posted by aging one

I am buying Cathay Pacific on the Hong Kong market. Best value I have seen in a long time. Roughly a buck a share.

There's a good reason for that...

A front page article in the October 25 Yomiuri Shinbun noted that share prices for Sony and Toyota had fallen to a level that would be expected if said companies were bankrupt- in other words, no expectation of future earnings/growth. In other words, top flight Japanese companies can be had at fire sale prices, but nobody is buying. Including me. . .yet.

so trade begins today will the SET fall further?

another 15-20%

STI plunges 7.17% at opening
Tue, Oct 28, 2008
AFP

SINGAPORE shares opened sharply lower with the benchmark Straits Times Index (STI) down 114.81 points, or 7.17 per cent, at 1,485.47.
86.4 million shares exchanged hands.

Losers beat gainers 217 to 20.

The main Straits Times Index plunged 107.06 points to 1,493.22 from Friday's close of 1,600.28.

Markets were closed Monday for a public holiday. -- AFP

news.asiaone.com

so will it fall below 300?

not today ,

simply cause they'll halt trading first .

Do they halt at 10%? Seems to me I read that somewhere.

This will continue as hedge funds are forced to liquidate. There is a point- we may already be there- where the prices of the better companies will be low to the point of ridiculous, unless the future really is going to be a Mad Max movie (first and second in the trilogy, not the idiotic "Thunderdome").

What would Thailand be like under that scenario? Mass exodus to the countryside, where the food is? People who actually know how to grow things with simple implements getting the upper hand? A rebirth of krabi krabong when the bullets run out? Could be fun.

SET opened higher
Article in the BP says exports dropped by 30%!
Well that should help the baht

it's up for now but the trend is still down, would hate to guess where bottom might be but it should be lower than 350.

^(On the last point) Another ironic unintended consequence of bailing out...