HOT HOT HOT - reversal of BoT decision

see BBC site:

http://news.bbc.co.uk/1/hi/business/6192157.stm

[HIGHRISE]

Actually, it's spelled "baht." Here's another story:
http://www.usatoday.com/money/world/200 ... htm?csp=15 (http://www.usatoday.com/money/world/2006-12-19-thailand-investment_x.htm?csp=15)

Exchange rate seems to be improving:

Live mid-market rates as of 2006.12.19 16:53:45 UTC.
1.00 USD
United States Dollars = 36.0532 THB
Thailand Baht
1 USD = 36.0532 THB 1 THB = 0.0277368 USD

[HIGHRISE]

Ohhh, I get it, hehe. BOT is Bank of Thailand?

Thailand revokes investment rule for stocks
Franklin Templeton ThaiFund ETF jumps as finance minister makes exception for equities.
December 19 2006: 9:49 AM EST

NEW YORK (Reuters) -- The Thai finance minister said equities would be excluded from a rule aimed at curbing speculation in the country\\\\\\\'s currency, the baht, boosting an exchange-traded fund tracking Thailand equities.

The Franklin Templeton ThaiFund (Charts) rose 3.4 percent to $11.15 in early electronic trading before U.S. stock markets opened. The fund fell about 9 percent Monday, its biggest one-day percentage drop in three years, to close at $10.78 after the government unveiled restrictions on foreign investment in an effort to control the rise in the baht.

The rules triggered a plunge in Thai equities Tuesday, with the benchmark index dropping 15 percent. Earlier, Thai stocks suffered their biggest drop since Asia\\\\\\\'s 1997 financial crisis as foreign investors took fright at drastic measures to rein in the baht, which prompted calls for a central bank U-turn.

The currency dropped 2 percent from Monday\\\\\\\'s 9-1/2-year high after the central bank, worried that strength in Asia\\\\\\\'s best-performing currency would hurt exporters, slapped controls on short-term speculative money inflows.

The main stock index plunged more than 13 percent to a two-year low at one point, wiping more than $20 billion off the value of southeast Asia\\\\\\\'s third-largest bourse.

Full article
http://money.cnn.com/2006/12/19/markets ... 2006121909 (http://money.cnn.com/2006/12/19/markets/asia.reut/index.htm?postversion=2006121909) courtesy khaolakguy on www,gaythailand.com



It\\\'s one day wonder. Can they be that surprised that the money fled Thailand trying to get out before the new rules applied. Money was flowing in as much as 40 billion baht a week so it\\\'s all sort of relevant and that will dry up. One wonders if the remnants of the action will be strong enough to depress the Baht for long.

This will continue to have an effect. The world markets now must be convinced the Thai "government" is baa maak maak. Investors do not like wacky, unpredictable behavior.

This will continue to have an effect. The world markets now must be convinced the Thai "government" is baa maak maak. Investors do not like wacky, unpredictable behavior.

This will continue to have an effect. The world markets now must be convinced the Thai "government" is baa maak maak. Investors do not like wacky, unpredictable behavior.

This will continue to have an effect. The world markets now must be convinced the Thai "government" is baa maak maak. Investors do not like wacky, unpredictable behavior.

This will continue to have an effect. The world markets now must be convinced the Thai "government" is baa maak maak. Investors do not like wacky, unpredictable behavior.

... the 30% ruling still applies to bonds

Jingthing got a stutter lol.

South-East Asia hit as Black Tuesday engulfs Thailand
Andrew Drummond in Bangkok
# Shares collapse forces bank U-turn
# Further fears for battered exports
The Thai Finance Minister last night reversed a draconian capital control policy after the countryтАЩs stock exchange suffered the biggest fall in its history.

After a day dubbed Black Tuesday, some 820 billion Thai baht (┬г12.23 billion) was wiped off the value of the Stock Exchange of Thailand as the index plunged 14.84 per cent.

http://business.timesonline.co.uk/artic ... 01,00.html (http://business.timesonline.co.uk/article/0,,9063-2512501,00.html)

Hahaha...nice to see that our friend Andrew Drummond is still around (the hack!).

820 billion Thai baht (┬г12.23 billion) was wiped off the value of the Stock Exchange of Thailand as the index plunged 14.84 per cent.

Well, 2/3rds of it is back as the SET rose 10% in today's morning session.

I still think they plan to keep the draconian currency measures intact while allowing inflows for stocks unabated. It seems like a no-brainer to me.

The bht is weaker today, to the point there is 36 odd to the US dollar, the pound - 71 bht to the pound. Even though the BoT has reversed its decision, I personally think the markets know the BoT "mean business", and this could deter currency speculators, hence weakening of the bht. It's all a game!

The bht is weaker today, to the point there is 36 odd to the US dollar, the pound - 71 bht to the pound. Even though the BoT has reversed its decision, I personally think the markets know the BoT "mean business", and this could deter currency speculators, hence weakening of the bht. It's all a game!

When it should be in the 45-50 range, then I don't really have ANY idea what you mean by weaker?

You won't stop them until you stop them. They will go ahead on the restrictions as to currenvy.

Most business owners I know are calling this a disastrous high season, and blaming the baht, not the '06 coup.

The bht is yet weaker again today 71.75 to the pound and 36.60 to the dollar, there is not much change with other major currencies, strange, I think someone somewhere is doing something to weaken the bht. Either that or institutions are taking their money out of Thailand.