Weekend anti-government rally won’t impact stocks

BANGKOK, June 27 (TNA) – The planned mass anti-government rally by the United Front for Democracy against Dictatorship (Red Shirts) protesters over this weekend will have little impact on investment in the Stock Exchange of Thailand (SET), according to top securities executives.

Tisco Securities President and CEO Paiboon Nalinthrangkurn said the exchange’s depression was caused by the direction of foreign stock markets and the approach to cope with the global economic woes.

However, there are added political risks at present, he conceded, explaining that he did not want frequent changes in the government because efforts to stimulate the economy would lack consistency.

Asia Plus Securities President Kongkiat Opaswongkarn said investors are well-informed and aware of news reports regarding anti-government rallies.

Mr. Kongkiat believed Thailand’s unresolved political conflicts would continue for an indefinite timeframe, but that it would not adversely affect the stock markets because most investors had already integrated the ongoing news about the political differences into their thinking.

Sombat Naravuthichai, secretary-general of the Securities Analysts Association, said the numbers of people joining the anti-government rally on Saturday should be monitored.

Still, he believed the rally would not become violent and the government would be able to deal with the demonstration. (TNA)