September 07, 2007 at 12:30 pm by Tom Lydon
Thailand’s first exchange traded fund (ETF) had a successful launch yesterday. The ThaiDex SET50 ETF (TDEX) closed with unit prices 3.6% higher than the initial public offering (IPO) price, according to Krissana Parnsoonthorn for the Bangkok Post. However, the launch did not go off without a hitch: A "halt" sign was misplaced on the ETF’s units for several minutes in the morning. It turns out the sign was added because market officials forgot to record the total units of TDEX.
Thailand is an emerging-market country ready to embrace economic expansion, which makes the launch of its first ETF that much more exciting. Given the country’s strong economic fundamentals, its economy is expected to expand more next year. Hopefully Thailand will partner with some U.S. ETF providers to launch a Thailand-based ETF in which we can invest.
Tags: Thailand
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