Countering, Usara Wilaipich, a Bangkok-based economist said, “Any move by ratings agencies should reflect their concerns about political risk rather than the fundamentals of the Thai economy.” Thailand opted to do just that, and kept rates where they are while the unrest plays out.
Thailand’s four biggest banks posted robust earnings in the first quarter, report Leigh Murray and Piyarat Setthasiriphaiboon of The Wall Street Journal. Bangkok Bank PCL’s first quarter net profit rose 25%, Krung Thai Bank PCL’s earnings rose 16%, Kasikombank PCL’s earnings grew 15%, and Siam Commercial Bank PCL’s net profit grew 15%. [What a Strong Yuan Would Mean for South Korea ETF.]
If the Thailand ETF is one you’d like to own, note that a) it’s above its long-term trend line, although it has dropped sharply since the crisis began and b) have an exit strategy in place – it’s considered a sell signal if it drops 8% off the recent high or below the 200-day moving average, whichever comes first. [How to Follow Trends.]
For more stories on Thailand, visit our Thailand category.
- iShares MSCI Thailand Invest Mkt Index (NYSEArca: THD)
Sumin Kim contributed to this article.