Thailand & Korea bottoming out? Message Board

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Strategies & Market Trends : Thailand & Korea bottoming out?

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To: Tom who wrote (12)	6/9/1997 7:02:00 AM
From: Spekulatius	of 26

Debt downgrading - leads to further drop in share prices. The debt of Bangkok Bank and Thai Farmers Bank have been downgraded from AAA to AA, I believe. This has pushed the market down. Downgrading is due to ailing loans. Its hard to believe that it may come worse yet, but I think the Thai central bank may be forced to devalue the baht. This could be an incredible buying opportunity. The SET index (at about 530) has not been that low since 1989! Regarding the premiums for foreign investors I believe they are about 20% for Bangkok Bank and Thai Farmers Bank but much lower (about 5%) for most other Thai shares.

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