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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.
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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.
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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.
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