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Billion dollar outflow from Thailand on election worries

Alfie · 3 · 260

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Offline Alfie

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The Thai stock market suffered $704 million in foreign outflows in the first three weeks of June and a $551 million outflow in May as several brokers advised investors to sell, waiting to see the election outcome and the formation of a new government.

http://www.reuters.com/article/2011/06/20/markets-thailand-stocks-idUSL3E7HK06N20110620

Last Friday (24 June) the Stock Exchange of Thailand main index rose 8.81 points or 0.87% to close at 1,022.94 points.  


Offline Alfie

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Investors like stability. No one knows what will happen after the election.  Thai politicians may well be cowboys, but this is ain't Texas, Dorothy!


Toddy

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Has anyone else noted that EVERY weekend the Thai Baht strengthens against major currencies such as USD/GBP?? The move can be as much as 0.5 Baht, which doesn't seem much, but in one day, every weekend??? The next day it is back up. Something fishy going on. I never send money over at a weekend. Thursday seems like a good day!!