Guest Aunty Posted December 19, 2006 Share Posted December 19, 2006 It was reported on CNN's website today that the Thai stock market plunged by more than 13%, it's biggest slide since the Asia financial crisis in 1997, prompting the market to suspend trading for 30 minutes. It seems the new measures put in place by the Bank of Thailand to stop the rise in the Thai Baht has been extremely unpopular with foreign investors who have scrambled to liquidate their Thai stock holdings in a frenzy of selling to get their money out of Thailand. Without wanting to be inflammatory about it, it makes one wonder if the Thai property market will be next? (Isn't it a rule of economics 101 that Central Bank intervention in the foreign currency market to try and stabilise the currency is always a hiding to nowhere? http://edition.cnn.com/2006/BUSINESS/12/19...reut/index.html Quote Link to comment Share on other sites More sharing options...
