Thai market fundamentals remain strong: Thirachai

MONDAY, OCTOBER 03, 2011
Thai market fundamentals remain strong: Thirachai

Finance Minister Thirachai Phuvanatnaranubala attributed the stock fall to foreign investors' demand for cash, which prompted them to unload shares in their portfolio.


 He noted that it is important to realise that the market did not fall on negative perception on the Thai market outlook. As these investors needed cash, they would first unload liquid assets and stock markets in Asia are the target as they have attracted huge foreign investment in the past months.
 Thirachai believed that the sell-offs would stop, once they raise sufficient sums to cope with their problems. 
 "We should not panic, but we need to be on alert. At one point, Asia's fundmentals and attractiveness will lure them back... I can't tell how long this sell-offs would continue, but I don't think it would take long. They should not sell out all shares, as the Thai market's fundamentals remain strong," he said.