Fund proposed to shore up market

Business > Economics

SOVEREIGN DEBT CRISIS

Fetco suggests facility to buy dumped shares

Published: 27/09/2011 at 02:36 AM
Newspaper section: Business

Capital-market executives yesterday called on the government to establish a support fund to buy oversold stocks as the Thai market fell 5.65% in heavy trading over ongoing worries about the euro-zone debt crisis and the global economy.

The Federation of Thai Capital Market Organisations (Fetco) also urged the government to adjust its existing policy platform to focus more on stimulus programmes and infrastructure investment to boost market confidence.

The Stock Exchange of Thailand (SET) index closed yesterday at 904.06 points, down 54.1, in heavy trade worth 47.6 billion baht. The day's low was 867.86 points before rebounding in afternoon trade.

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Writer: Nuntawun Polkuamdee & Somruedi Banchongduang

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pointoffew
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Discussion 1 : 27/09/2011 at 10:17 AM1
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Can it get crazier than this???

Why should the state interfere in every single aspect of the economy??? This is absolutely a disastrous idea. Let the price of shares and bonds reflect market value - not what some (likely incapable, if not sleeping) civil servant believes is the right value. Those 'investors' are simply gamblers who want to profit from share / bond prices rises but can't accept loses. Sick! If they can't stand the heat...

There are other, much better, mechanisms to limit the effect of panic selling - and they are already in place.

Besides, why should the (already heavily overspending) government "focus more on stimulus programmes" in times of reasonable economic growth?? It should ONLY do so in times of minimal growth or recession. Now is the time to REDUCE spending and balance the budget.

But those who propose these ridiculous ideas only think about their own well filled pockets, that much is clear. How else can they utter a wish like "Money should be shifted from some social development schemes such as the village investment funds to more focused economic stimulus programmes"??? In other words: in hard times, rob thee poor and give their money to the industrialists! Do they know no shame at all? How low can they go?
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Fund proposed to shore up market | Bangkok Post: business