Stock Crisis – Black Tuesday – Bt820-billion blunder

Thailand still reeling after military moves to limit foreign investment - Sun-Sentinel, December 21, 2006
...some of the confidence that foreign investors and others had in Thailand's new, military government may have waned. And the sharp, sudden shock was a painful reminder that investing in emerging markets has its risks...

Henderson's Kerley looks to sell Thai investments - Reuters, December 20, 2006
..."There's a huge credibility issue ... It's an unelected government with no constitution. When we start to see policies like this, it makes us nervous ... It has certainly put a spanner in the works."...

Malaysian economy well-placed to withstand Bangkok fallout - Bernama, December 19, 2006

Stocks rebound, but Thai credibility in tatters - Washington Post, December 20, 2006
Thai shares bounced back from their biggest sell-off in 16 years on Wednesday after the government scrapped controls on foreign stock buying, but the abrupt policy U-turn shattered confidence in its economic chiefs...

Bankers say foreign investment may stop - Bangkok Post, December 25, 2006
...Bankers warn that the rule will essentially eliminate foreign investment in the Thai bond markets and dissuade Thai companies from tapping the overseas financial markets, as all foreign currency inflows would be covered under the reserve requirement...

Bt820-billion blunder - The Nation, December 19, 2006
...In a nationally televised announcement, Pridiyathorn admitted foreign investors had been severely hit by the capital reserve and tax measures, resulting in the Thai stock market's free fall.
...Pridiyathorn said the 30 per cent capital reserve requirement would remain intact on funds brought into the country for investing in financial instruments, as well as for borrowings.
However, there would be no such requirement on foreign funds brought into the country for foreign direct investment and for investing in the stock market, starting today.
He said the stock market should recover in stages and admitted that the damage in terms of a massive loss of market capitalisation was far beyond any expectation...

Region blames Thailand for new crisis - Bangkok Post, December 19, 2006
... What is sending shivers down the spine of foreign investors is the spectre of contagion. When the Thai baht plunged in July 1997, it marked the start of a region-wide financial crisis...

STOCK CRISIS: It's Black Tuesday - The Nation, December 19, 2006
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 Money in 1987...

Thai stocks crash as investors panic over central bank rules - AFP, December 19, 2006
Thai stocks have suffered their worst losses in more than 30 years as panicking investors fled the market after the central bank imposed draconian measures in an effort to halt the baht's rise...

Stock market loses Bt500 billion in value: SEC - The Nation, December 19, 2006

Central Bank should cut requirement on capital inflows: Teerana - The Nation, December 19, 2006

Thai capital control would have no sudden impact: S&P - The Nation, December 19, 2006

SET plunges after central bank acts to curb rising baht - The Nation, December 19, 2006