webfact Posted August 26, 2019 Share Posted August 26, 2019 The Baht remains strong while Asian stock markets slide By The Nation The baht continues to be strong while the escalating trade war and violent protests in Hong Kong cause Asian stock markets to slide. The Hang Seng Index shed more than 3 per cent at some point this morning (August 26) as investors worried about a new round of trade tensions between the. United States and China. Violent protest in Hong Kong also contributed to the market dropping sharply. The Stock Exchange of Thailand Index lost 1.69 per cent in open trading this morning. Japan ‘s Nikkei 225 was down more than 2 per cent in morning trading, South Korea’s Kospi dropped over 1 per cent, China’s Shanghai Composite lost over 1per cent. Singapore’s Straits Times Index and Malaysian Kuala Lumpur Composite Index also dropped more than 1 per cent. Markets in Asia followed Wall Street’s large drop on Friday after China and the US raised tariffs on each other products. The baht remained strong this morning moving around Bt30.60 against the dollar, appreciating from Bt30.70 on Friday, according to Kasikorn Research Centre. Kobsidthi Silpachai, head of capital markets research at Kasikornbank noted the gold price had recovered following tweets by US President Donald Trump, ratcheting up tariffs. Higher gold prices should mean Thai gold players will take profit on gold by selling gold against the US dollar and then selling the dollar against the baht, he added. The Gold Traders Association in Bangkok quoted gold prices this morning as buying at Bt22,200 per gold bar and selling at Bt22,300. Source: https://www.nationthailand.com/business/30375352 -- © Copyright The Nation Thailand 2019-08-26 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
keith101 Posted August 26, 2019 Share Posted August 26, 2019 LOL TIT . Link to comment Share on other sites More sharing options...
keith101 Posted August 26, 2019 Share Posted August 26, 2019 LOL TIT . So there now using gold to prop up the baht they will run out of things soon enough and head into a recession . Link to comment Share on other sites More sharing options...
FarFlungFalang Posted August 26, 2019 Share Posted August 26, 2019 The amulet worn by the Thai Baht is powerful indeed! Link to comment Share on other sites More sharing options...
Isaan sailor Posted August 26, 2019 Share Posted August 26, 2019 Thailand should pay attention to what's happening in Hong Kong now. Same thing will happen here if they continue down with the ChiCom Belt & Road Initiative. And a rising Baht is all part of the evil plan... Link to comment Share on other sites More sharing options...
hotchilli Posted August 26, 2019 Share Posted August 26, 2019 Gold has long been the best currency. Link to comment Share on other sites More sharing options...
Percy P Posted August 26, 2019 Share Posted August 26, 2019 3 hours ago, Isaan sailor said: Thailand should pay attention to what's happening in Hong Kong now. Same thing will happen here if they continue down with the ChiCom Belt & Road Initiative. And a rising Baht is all part of the evil plan... But Thailand can't just lower the value of the Baht. Just look at their foreign reserve which relates to the value of the Baht. Fantastic. Link to comment Share on other sites More sharing options...
RichardColeman Posted August 26, 2019 Share Posted August 26, 2019 The Thai baht will be the shotgun that blew away the golden goose ! Link to comment Share on other sites More sharing options...
malibukid Posted August 26, 2019 Share Posted August 26, 2019 Portugal is looking very good and so is the surf Link to comment Share on other sites More sharing options...
Chongalulu Posted August 26, 2019 Share Posted August 26, 2019 4 hours ago, Isaan sailor said: Thailand should pay attention to what's happening in Hong Kong now. Same thing will happen here if they continue down with the ChiCom Belt & Road Initiative. And a rising Baht is all part of the evil plan... Those in HK have a level of education and intelligence orders of magnitude greater than in Thailand so understand what is on the horizon. Here not so much... Link to comment Share on other sites More sharing options...
SteveK Posted August 26, 2019 Share Posted August 26, 2019 Of course the baht is still strong, the elite haven't finished buying their international investments and property yet. When they have, watch the baht drop like a stone. Link to comment Share on other sites More sharing options...
joecoolfrog Posted August 26, 2019 Share Posted August 26, 2019 1 hour ago, Percy P said: But Thailand can't just lower the value of the Baht. Just look at their foreign reserve which relates to the value of the Baht. Fantastic. Lol of course the Thais could lower the baht , foreign reserves are just a part of the puzzle. China has by far the largest foreign reserves in the world but weakens its currency when it finds it useful to do so. The likes of Russia , Japan and Brazil also have reserves far greater than Thailand yet have seen their respective currencies bomb from time to time. The baht is strong because ( and only they know why ) it suits the political masters .As an export ( and lesser degree tourist) dependent nation it certainly doesn't make any economic sense. Link to comment Share on other sites More sharing options...
Naam Posted August 26, 2019 Share Posted August 26, 2019 8 hours ago, keith101 said: LOL TIT . So there now using gold to prop up the baht they will run out of things soon enough and head into a recession . you seem to be an economist... right? Link to comment Share on other sites More sharing options...
Mac98 Posted August 26, 2019 Share Posted August 26, 2019 Trump has been pushing for a weaker dollar for years. It's difficult for the baht to fall fast enough to keep up. Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2019 Share Posted August 27, 2019 12 hours ago, SteveK said: Of course the baht is still strong, the elite haven't finished buying their international investments and property yet. When they have, watch the baht drop like a stone. hundreds of comments like yours during the last decade did not materialise. keep on dreaming. Link to comment Share on other sites More sharing options...
TPI Posted August 27, 2019 Share Posted August 27, 2019 18 hours ago, Isaan sailor said: Thailand should pay attention to what's happening in Hong Kong now. Same thing will happen here if they continue down with the ChiCom Belt & Road Initiative. And a rising Baht is all part of the evil plan... Impossible! Can you imagine in your wildest dreams modern day university students and middle class matrons marching in support of "democracy" 555555555 Link to comment Share on other sites More sharing options...
Isaan sailor Posted August 27, 2019 Share Posted August 27, 2019 14 hours ago, Percy P said: But Thailand can't just lower the value of the Baht. Just look at their foreign reserve which relates to the value of the Baht. Fantastic. You just don't get it, Percy. Thailand's high foreign reserve has come from years of hot money inflows of short term bond sales. Duh. Link to comment Share on other sites More sharing options...
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