Liquidity in the market has dropped by some -20-30% since the news of the naked short selling hit the market. So…that’s a good rough guesstimate of how much impact those funds had on the Thai market.

Thailand continues to be a dog of a performer with the index still -16% for the year, but could the next 2 months mimic what we saw 12 months ago, albeit on a smaller scale? Back then the baht went from 38 to 33, this time could it do 36 to 34 and the equity market rally into the end of Jan? I’m betting on that…