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    Thai expert on stock market

     

    Tuesday was a "bumpy day" for Thai stock market, as the index dived 44.2 points just in half an hour after market opening.

    Figures show the Thai stock market has attracted billions of foreign investment.

    "Starting from this year, the Thai (stock) market has been kind of outperform compare with other market. Now we are growing at 18-21 percent, depending on the times, which I think is one of the best in the world. So, it means that the market has some kind of correction anyway."

     

    President of Stock Exchange of Thailand says she is confident with Thai stock market despite recent fluctuation.

     

     

    SOUNDBITE (ENGLISH): KESARA MANCHUSREE, Stock Exchange of Thailand

     

     

    The president also explains that the fear of the U.S. Federal Reserve rate hike is another reason for the decline, as interest rates raise in the U.S. will provide chances of foreign capital pulling out of emerging markets.

     

     

    Thai stock market performed quite well this year. 

     

    SOUNDBITE (ENGLISH): KESARA MANCHUSREE, Stock Exchange of Thailand

    When being asked about the situation, Kesara Manchusree, President of Stock Exchange of Thailand, believed it was just a market correction.

    SOUNDBITE (ENGLISH): KESARA MANCHUSREE, Stock Exchange of Thailand

    The president said the country's stock market is becoming more appealing to foreign investors.

    "This is another reason why we see last week, some of the investors were afraid of hike of US FED rate for (in) September. But I think September month has already passed, they are expecting another month would be December. We are seeing that if the fact the FED raise its interest, it would give some kind of short-term effect to all over the world market. But anyway, the interest rate will at a low level,so I believe that equity investment remains the best in asset that you can invest."

     

    "In the past three years, we see a kind of trouble in Thai economic condition, also for political issues. But as time goes by, once you look into the past, even we had crisis in our political things, but for the (point of view) of the listed companies’performance, we are seeing our Thai listed companies have been doing their job quite well. The net profit has been growing and it has been doing better than the economy growth. That's why the foreign investor look and compare withexchanges, they know that Thai market offers quite a good return to them. That's why they come back."

    Official data showed the SET index has gone up 18 percent since this January, which makes Thailand on top of Asia stock market.