SET plunges, but economic ministers refuse to rein in the baht | Bangkok Post: news

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Thai stocks slump; baht still strong

Thai stocks took a nosedive on Wednesday, the biggest drop among the benchmark gauges in Asia.

A woman stands in front of an electronic stock board in Bangkok on Feb 19, 2013. (Bloomberg Photo)

The Stock Exchange of Thailand Index rose 24.58 points, or 1.57%, to close at 1,543.67 at the end of trading. Turnover was 83.65 billion baht, with 31.70 billion shares traded.

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Your comments

  • justfacts

    ThailandPost : 633

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    Discussion 13 : 21 Mar 2013 at 07.3413

    pointman-1 may I suggest currency 101 for you to read

  • facts_only

    ThailandPost : 508

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    Discussion 12 : 21 Mar 2013 at 00.4812

    "Thai stocks took a nosedive on Wednesday, the biggest drop among the benchmark gauges in Asia...The Stock Exchange of Thailand Index rose 24.58 points, or 1.57%..."

    Is a *rise* of 1.57% a 'nosedive'?

  • Worzel

    Hong KongPost : 175

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    Discussion 11 : 20 Mar 2013 at 22.5411

    Pointman, its got nothing to do with any domestic demand. USD is the world reserve currency, backed unofficially by oil as the Petro-dollar.

    The Fed announced today that they will continue the expansion of USD supply which will further de-base the buying power of the dollar.

    The more dollars that are in circulation the more money there is to bid prices up, causing inflation and this leads to a reduction in buying power for Americans.

  • pointman-1

    South KoreaPost : 243

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    Discussion 10 : 20 Mar 2013 at 22.4410

    The U.S. Dollar no longer backed by gold, has no bearing on the 16 Trillion Dollar debt. In fact, when Bill Clinton left office, the United States, had a 4 Trillion Dollar surplus. Furthermore, the United States, owns over 75% of the world's gold. Those gold reserves are the best insurance any country could have. Here's what's going to happen. The United States, will become the world's leading exporter of oil. "Made in the USA," is on its way back. The debt will be paid down and the U.S. Dollar will flourish. Using gold to pay off the debt would be a last resort for a nation with a 15 Trillion Dollar economy.

  • pointman-1

    South KoreaPost : 243

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    Discussion 9 : 20 Mar 2013 at 22.209

    Disc 4, justfacts: I believe you better check the exchange rate of the U.S. Dollar VS the Japanese Yen. The Yen has been weakening against the U.S. Dollar and within a few months, will weaken to 110 Yen to the U.S. Dollar. Monday morning, The South Korean Won had weakened to 1115 Won to the U.S. Dollar. I know because I bought the Korean Won. The Korean Won and Japanese Yen, aren't strenghtening like the Thai-Baht is because the United States, has air-bases and troops in both of those countries and both countries are heavily invested with and inside the USA. It's all about demand. I see no big demand for the U.S. Dollar in Thailand.

  • ubuntu

    ThailandPost : 262

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    Discussion 8 : 20 Mar 2013 at 21.408

    A strong baht is excellent for anyone that may be needing to transfer to offshore accounts and convert to their local currency eg; swiss francs



    Not excellent for exports (70% of economy) or tourism

  • Mr.T

    Discussion 7 : 20 Mar 2013 at 20.477

    Now the fruits are ripe, Profit taking time boys and girls
    from iPhone application.

  • nobullshit

    ThailandPost : 10

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    Discussion 6 : 20 Mar 2013 at 20.416

    i see the strong thai bhat heading the country deeper into bankruptcy.
    perhaps this is the plan?
    what better opportunity for MR.T to return as some rescuing knight, on a (yet to pay for) new jet!
    trillions of newly printed bhat. to welcome him.
    can they justify worst ever European / USA tourism.
    slipping from number 1 to number 7 in rice exportation.
    wake up and demand central bank to intervene.
    have you all forgotten so soon the thai bhat overnight plunged to 99 to 1 english pound!
    i cant wait.neither can the IMF.

  • Worzel

    Hong KongPost : 175

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    Discussion 5 : 20 Mar 2013 at 20.135

    Pointman - Good luck with any recovery in the US or any strength in the dollar. The US are printing billions of dollars which is eroding the purchasing power of the dollar. It may now impossible to reverse the decline of the dollar.

    Un-backed fiat currency derives its strength from people's faith, your faith is strong but be sure others have long since lost theirs.

    The dollar was backed by gold until 1971 and the Fed is a private company.

  • justfacts

    ThailandPost : 633

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    Discussion 4 : 20 Mar 2013 at 20.114

    Lets Talk ...first "Thai stocks took a nosedive on Wednesday, the biggest drop among the benchmark gauges in asia
    The Stock Exchange of Thailand Index rose 24.58 points" biggest drop but yet "rose"
    #1 the demand for the dollar in S.Korea and japan has nothing to do with the lack of demand in thailand (which you are wrong) The dollar is weaker in japan that it has been in years ..I remember in the 60'S 360 to 0ne in the 2000's 140 to one...before you voice your opinion do some research as appartently you are too young to remember or understand

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