Stuck on the ropes: Thai stocks reflect fears about the economy
Article Abstract:
Prices on the Stock Exchange of Thailand fell 5.5% after the announcement on Apr 22, 1993 that 30 investors had been charged with manipulating stocks. The stock index was at 850.35 on May 11, a 15% decrease from its February high of 998. Two additional developments augmented the decline in prices caused by the crackdown: fears of excessive regulation after 123 more people were implicated, and the efforts by the accused and their associates to resist by selling stocks at low prices. Slow economic expansion and lackluster corporate profits are the more basic causes of the market's poor performance.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Committed to paper
Article Abstract:
Thailand's first credit-rating agency, Thai Rating and Information Services Co (Tris), is opening with broad support from the financial industry and the government. They hope it will make investment grade corporate-paper issues possible, boosting domestic savings and stabilizing the money markets. The government owns 19% of Tris, which is the second such agency in the Assn of South East Asian Nations. Bond issuers will pay Baht 400-600,000 for a rating. Thailand's SEC has yet to give rulings on several related subjects.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The long shadow: Tokyo stockmarket woes raise fears for 'real' economy. The ripple effect
- Abstracts: Opposing the oligarchs. Lotto hopes: Ramos stakes his prestige on a numbers game. Ticking over
- Abstracts: Off the leash: Miyazawa forms cabinet without dominant faction. Breaking the mold: ruling party shaken by Takeshita faction battle
- Abstracts: Keeping his mouth shut: Clinton and the Fed. The Clinton shuffle: free trade. Who's best? The economy
- Abstracts: Bridging the gap: East Asia could eradicate poverty in a generation. Saving grace