Seeking Alpha
 

Thai Fund (TTF)

- NYSE
  • Jan. 7, 2014, 8:49 AM
    • Thai stocks (THD, TF, TTF) surge 2.6% in Bangkok.
    • "Higher oil prices bolstered buying in energy stocks," Reuters notes.
    • While the SET may be seeing some bargaining hunting at present, investors will be watching the political situation closely, as protestors have pledged to literally shutdown the capital on January 13; a show of defiance ahead of new elections planned for February.
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  • Jan. 3, 2014, 9:34 AM
    • The SET Index (THD, TF, TTF) falls 0.5%, adding to Thursday's 5.2% decline — Thursday marked the worst start to a year for the country's equity market in at least two and a half decades.
    • Thai shares are now trading at around 10.5X forward earnings, which is the cheapest they've been since the summer of 2012.
    • "Market sentiment is very weak with no foreseeable solution on the current political deadlock in the near future,” the CIO of the country's largest private money manager tells Bloomberg.
    • In other regional action, Indonesian shares (IDX, IDXJ, EIDO) are lower by 1.6% and stocks in Malaysia (EWM) fall nearly 1%.
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  • Dec. 26, 2013, 8:33 AM
    • Thai shares (THD, TF, TTF) fall under pressure as the country's Election Commission suggests the country should postpone elections scheduled for February, as political turmoil persists.
    • Not helping matters is a downward revision to the Finance Ministry's 2013 and 2014 GDP growth forecasts.
    • The office now sees 2.8% growth this year and a 4% expansion next year, versus previous estimates of 3.7% and 5.1%, respectively.
    • SET index -1.8%.
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  • Dec. 23, 2013, 10:03 AM
    • Thai shares (THD, TF, TTF) slide 1.2% in Bangkok as political turmoil intensifies.
    • Protestors have taken recently to surrounding Prime Minister Yingluck Shinawatra’s home and are now attempting to disrupt new elections.
    • Amid the strife, the baht hit its lowest level in nearly four years — Thai shares have seen foreign outflows "for nearly every session since November," Reuters notes.
    • Other Southeast Asian markets are quiet. Shares in Singapore (EWS, EWSS) are up 0.7%.
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  • Dec. 17, 2013, 10:15 AM
    • Thai (THD, TF, TTF) and Indonesian (IDX, EIDO, IDXJ) shares rebound from multi-month lows, rising 0.7% and 1.4%, respectively.
    • Also rallying today are Philippine shares (EPHE), up 2% in Manila.
    • Southeast Asian investors will be watching the Fed closely for hints about the taper, as many commentators still believe emerging markets will suffer once the FOMC begins to pare its asset purchases.
    | Comment!
  • Dec. 4, 2013, 8:41 AM
    • Nothing to see here. "There will be no coup as we believe the tension is easing and everything will be back to normal soon," Thailand's navy chief says, allaying fears that the country may see its 19th attempted military coup in the past 80 years.
    • Although Prime Minster Yingluck Shinawatra's government continues to trade harsh words with opposition leader Suthep Thaugsuban, the administration's willingness to allow protesters to enter government ministries is seen as a sign that violent upheaval is likely off the table.
    • Thai shares (THD, TTF, TF) are relatively calm, slipping 0.5% in Bangkok.
    • Elsewhere in the region, markets in Indonesian (IDX, EIDO, IDXJ) and the Philippines (EPHE) slide more than 1% each.
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  • Dec. 3, 2013, 9:36 AM
    • Thai shares (THD, TTF, TF) rise 0.7% in Bangkok. Investors are hopeful that a move by Yingluck Shinawatra to allow demonstrators to reach government buildings will ease tensions.
    • Elsewhere in the region, Indonesian (IDX, IDXJ, EIDO) and Philippine (EPHE) shares fall 0.8% and 0.7% respectively.
    | Comment!
  • Nov. 27, 2013, 9:23 AM
    • Thai shares (THD, TF, TTF) rally 1.1% in Bangkok as the Thai central bank surprises with a 25 bps rate cut.
    • The vote was 6-1, with committee members citing "weaker than expected" Q3 growth and a lackluster recovery in exports.
    • Also mentioned was the fractious political environment: "There are downside risks to growth stemming from delay in government investment and fragile private confidence, which could be compounded by [the] ongoing political situation." (Full statement)
    • The central bank's move comes as Thai protestors "stormed" the finance ministry and surrounded the interior ministry earlier this week. BBC describes the bizarre scene: "A protest movement armed with little more than whistles and plastic hand-clappers has been able to mount what comes close to an insurrection against the government, in a middle-income country and economic hub for the South East Asian region."
    • For more, see here.
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  • Nov. 25, 2013, 9:36 AM
    • Philippine shares (EPHE) underperform regional markets, falling 1.3% in Manila on $11.8M in foreign selling (Reuters).
    • Meanwhile, Thai shares (THD, TF, TTF) close lower by 0.5% after bouncing off morning and mid-afternoon lows.
    • Weighing on investor psychology in Thailand are tens of thousands of protesters who have taken to the streets in recent days to express their disapproval for Prime Minister Yingluck Shinawatra's government.
    • The political discord is tied to an amnesty bill which, although struck down in the Senate, hit a nerve with many Thai citizens.
    • For more on the amnesty bill see here.
    | Comment!
  • Nov. 22, 2013, 10:16 AM
    • Thai stocks (THD, TF, TTF) suffer through another rough session (that's four in a row), falling 1.2% in Bangkok.
    • Foreign selling now totals $983M for November, according to Reuters.
    • The SET now sits at its lowest level since September 6.
    | Comment!
  • Nov. 21, 2013, 9:42 AM
    • Thai shares (THD, TF, TTF) sink 2% in Bangkok, falling for a third-consecutive session and hitting their lowest levels since early September.
    • Here's a CIMB strategist (as quoted by Reuters): "QE fears led to selling in the region today [and] more selling of Thai stocks could be due to the uncertainty about domestic political issues."
    • Only Philippine equities (EPHE) have performed worse in November.
    | Comment!
  • Nov. 14, 2013, 9:52 AM
    • Dovish commentary from Janet Yellen gives Southeast Asian markets a boost, as investors likely believe the continuation of ultra accommodative Fed policy will stem and/or prevent emerging market capital outflows.
    • Across the region: SET (THD, TTF, TF+0.8%, JCI (IDX, IDXJ, EIDO) +1.5%, Straits Times (EWS, EWSS) +0.8%.
    • Not participating in the rally are Philippine shares (EPHE), which are up just 0.1% as the country continues to reel from damage inflicted by Typhoon Haiyan.
    | Comment!
  • Nov. 8, 2013, 9:38 AM
    • Thai stocks (THD, TF, TTF) fall for a second day as investors nervously eye the senate, which is set to debate a controversial amnesty bill. The SET is off 1.4% in Bangkok.
    • Also lower are Philippine shares (EPHE), as the PSEi slides 1.3% to a five-week low.
    • Elsewhere: The Straits Times (EWS, EWSS) falls -0.8%.
    | Comment!
  • Nov. 5, 2013, 10:06 AM
    • Foreign investors dump Thai stocks (THD, TF, TTF) for a fourth-straight session, selling some $62.4M worth of shares, according to Reuters. Thankfully, domestic bargain hunting after Monday's sell-off looks to have saved the day as the SET rises 2% in Bangkok.
    • Today, Thai Prime Minister Yingluck Shinawatra defended a controversial amnesty bill that would mediate corruption charges against her exiled brother but said her party would drop the bill if it fails to pass the senate.
    • Across the region: Philippine shares are fractionally lower, Vietnamese stocks (VNM) are up 0.6%, and Malaysian and Indonesian markets are closed.
    | Comment!
  • Nov. 4, 2013, 9:10 AM
    • Thai shares (THD, TF, TTF) are hit hard by political turmoil, as the SET slides 2.8% in Bangkok to 1,388, well below the psychologically important 1,500 level.
    • Protesters staged rallies Sunday after one house of Thailand's parliament passed an amnesty bill for former Prime Minister (and billionaire) Thaksin Shinawatra who was unseated in 2006 in a military coup.
    • The bill would help clear Thaksin Shinawatra of corruption charges.
    | Comment!
  • Oct. 31, 2013, 10:37 AM
    • Indonesian shares (IDX, IDXJ, EIDO) fall 1.4% to two-week lows, in a move attributed to underwhelming quarterly earnings. Nevertheless, the JCI closes out the month with a solid gain of nearly 5%.
    • Other regional shares are weaker as well, with Singapore (EWS, EWSS) and Malaysia (EWM) off by more than 0.5% — in the absence of an identifiable catalyst, the underperformance is (of course) blamed on U.S. monetary policy being "less dovish than anticipated."
    • Meanwhile, Thai shares (THD, TF, TTF) rebound, rising 0.8% after falling 1.7% on Wednesday.
    | Comment!
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Company Description
The Funds primary investment objective is to achieve long-term capital appreciation through investment in equity securities of Thai companies. Under normal circumstances, the Fund will invest at least 80% of its net assets in equity securities of Thai comp
Sector: Financial
Country: Thailand