Advertisment

Thai PM Acknowledges Naked Short Selling Amidst Economic Crisis

author-image
BNN Correspondents
New Update
Thai PM Acknowledges Naked Short Selling Amidst Economic Crisis

Thai Prime Minister, Mr. Setha Thaweesin, made a statement on the controversial practice of Naked Short Selling during a televised interview, highlighting the government's awareness of the issue and the steps being taken to control it. This comes at a time when the Thai economy is struggling, with its stock market index reflecting the harsh reality of a 1.5% GDP growth. The sluggish growth has caused a shift in investor behaviour, with many looking towards more robust economies for investment opportunities.

Advertisment

Addressing Investor Confidence

Mr. Thaweesin emphasized the importance of restoring investor confidence in the Thai economy. He noted that regulatory agencies have been instructed to keep a close watch on Naked Short Selling, a practice that can destabilize the market. The Prime Minister's comments were reported by Mitihoon, a financial news platform. The platform is known for its dedication to providing accurate and reliable investment-related information, although it does not guarantee the completeness or accuracy of its content.

Expansion of Investment Links

Advertisment

In a related development, The Stock Exchange of Thailand (SET) and Singapore Exchange Limited (SGX Group) have broadened their investment links via the Thailand-Singapore DR Linkage. This move allows investors from both countries to access securities via depositary receipt (DR) in local currency. SGX-listed underlying DRs are now also traded on SET, demonstrating a commitment to enhancing synergies between the two markets.

ASX's Response to Independent Review

Meanwhile, ASX has pledged to implement recommendations from an independent review, focusing on improving its delivery capability as it continues to work on replacing its CHESS system. The review underscored the need for ASX to further develop its program management frameworks and capabilities, a move that ASX has responded to by developing a common approach to program delivery. This development, although not directly related to the Thai economy, adds another dimension to the global conversation on financial market practices.

Advertisment
Advertisment