enlarge Finance Minister MR Pridiyathorn Devakula announces the government would lift controls on foreign investment in stocks after the stock market plunged nearly 15 per cent on Tuesday, rattling regional markets.//Photo by Voravit Pumpuang
STOCK CRISIS It's Black Tuesday
It's Black Tuesday. In a single trading day, the Thai stock market lost Bt800 billion in paper wealth as its key SET index plunged by a record 14.84 per cent - the worst since Black Monday in 1987.
BLACK TUESDAY ANALYSIS Pridiyathorn's big gamble
MR Pridiyathorn Devakula, a deputy prime minister and the finance minister, and the banking authorities have made a big mistake by introducing wholesale capital controls instead of selective controls on the money market to stem the baht speculation.
Stock investment to be exempted : Pridiyathorn
Finance Minister Pridiyathorn Devakula said Tuesday the central bank would exclude inflows into the stock market from the Bank of Thailand's drastic measure of 30 per cent reserve withholding requirement.
Thai capital control would have no sudden impact : S & P
Thailand's imposition of capital controls to curb its currency appreciation won't have an immediate impact on the country's credit ratings, but the new measures will have long-term economic costs, a senior credit analyst at Standard and Poor's Ratings Services told Down Jones Tuesday.
Thai medal winners get Bt140 million
[THAI ATHLETES] Prime Minister Surayud Chulanont handed over Bt140 million to Thai medallists of the Fespic Games and Asian Games at Government House yesterday.
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Finance Minister MR Pridiyathorn Devakula announces the government would lift controls on foreign investment in stocks after the stock market plunged nearly 15 per cent on Tuesday, rattling regional markets.//Photo by Voravit Pumpuang
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