tedsta.com >> tedy » finance http://www.tedsta.com Mon, 12 Jul 2010 17:09:51 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Asian Crisis II? http://www.tedsta.com/2006/12/20/asian-crisis-ii/ http://www.tedsta.com/2006/12/20/asian-crisis-ii/#comments Tue, 19 Dec 2006 13:10:37 +0000 tedy gunawan http://www.tedsta.com/2006/12/20/asian-crisis-ii/ It was Black Tuesday for Thailand’s stock market as it plunged as low as 18% before closing down 14% lower – the worst fall in 16 years! The impacts are felt throughout the region with most Asian stock markets shedding 2%.

Is this the start of Asian Crisis part II? The panic selling is precipitated by Thai junta’s ruling of Thai bath restriction – forcing many institutions to hold 30% of the investment for at least a year in the country to restrict capital outflow from the country. Little is known why such a draconian measure must be taken. But the effect is clear, trading in the country had to be suspended intra-day to limit the sell offs – the first in its 31 years history! Out of 481 stocks traded in SET, only 8 posted gains, 13 unch and 460 posted losses.

Tomm will be an interesting scene to watch in the financial market!

Update: it looks like the ‘disaster’ was only temporary…and today the markets have rebounded….thank goodness

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