BANGKOK – The Stock Exchange of Thailand, in a move designed to give the impression that its performance is related to the real economy of Thailand, fell 9.87 points, or 1.34 percent yestaerday in heavy trading.
The bourse, consisting largely of obscurely-named companies with shadowy ownership and management details, whose shares are traded in massive blocks by informed insiders in naked pump-and-dump manipulations, has failed to attract outside investors who remain dubious of its unregulated, casino-like qualities.
“This is a good move by the puppet masters of the SET, to deliberately go down in sync with actual Thai economic indicators,” said Jumpol Pakul, a senior trader at Bualuang Securities. “It may give them credibility they would otherwise never have.”
“The other option being actual SEC regulation and transparency,” he said. “But we know that’s out of the question.”
