Finansia Syrus holds roadshow to provide info on Malaysian stocks
Finansia Syrus Securities has asked two big Malaysian companies, Petronas and Coastal group, to provide information for Thai investors interested in Malaysian stocks at a roadshow.
The roadshow in Bangkok started yesterday and ends today.
Pornpring Suksantisuwan, president of the brokerage house, said more Thai investors, particularly institutional ones, were interested in investing abroad. Their main markets are Singapore, Hong Kong and the United States. The latest market is Malaysia, where Thais want to invest in listed companies and sell funds.
Finansia Syrus Securities is holding the roadshow in collaboration with Bursa Malaysia.
The main business targets for Thai investors in Malaysia are energy and shipping.
"The Thai stock market remains attractive but is volatile. It’s not proper for daily trade or short-term investment. It’s suitable for medium-to-long-term investment. Overseas investment is another alternative," Pornpring said.
The Malaysian market is new to Thai investors after the introduction of Asean Link in stock markets in Thailand, Singapore and Malaysia.
"Trade through Asean Link has not been very active yet as the Thai stock market remains attractive with a variety of products," Pornpring said.
She said the company expected to see better performance this year after recording profit of Bt275 million for the first six months. It commands 6 per cent of the brokerage market, second in the industry.
Meanwhile, the stock market in Hong Kong, big banks across the world, US Treasury Department and that country’s Federal Reserve have tools in their pockets if the US Congress does not agree on raising the debt ceiling by October 17.
The Hong Kong Stock Exchange has lowered its valuation of US Treasuries with less than one year maturity from 99 per cent of face value to 97 per cent and has asked investors to place more collateral or cash for stock or financial-derivative trading.
According to The Financial Times, big banks across the globe are reviewing their contingency plans, and not using US Treasuries as collateral in the interbank market as a way to mitigate risk.
There were market rumours that JPMorgan had heavily sold short-term US notes from its investment portfolio.
Such moves implied that markets did not have confidence over the US negotiations to raise the debt ceiling.
According to Reuters, the US Treasury Department and the Fed have emergency plans, expecting to inject liquidity into financial institutions in case of liquidity problems.
