Tuesday, December 25, 2012

If the Charter Should Change?‏

Written on Dec 25, 2012

...Bells on bob tails ring. Making spirits bright. What fun it is to laugh and sing a sleighing song tonight. Oh Merry Merry Christmas everyone. Cheers!!

Politics – Pheu Thai chooses to go ahead
The ruling Pheu Thai Party will go ahead with its plan for a referendum on amending the Constitution, which may be held during 12 Mar to 12 April 2013. The Party is now confident that more than half of eligible voters would come to vote. Voters will be asked one question - whether the charter, adopted in 2007, should change. That’s it. Nonetheless, the Democrats claim the charter change proposal is obviously aimed at whitewashing fugitive ex-prime minister Thaksin as no part of the charter posed any obstacle to national development or solving society’s problems.

Market view: The SET is expected to rock in a tight range, with positive momentum from Japan as the yen touched a 20-month low versus the dollar, after PM Abe said he will pressure the BOJ to do more to end deflation. Investors, especially people overseas, strongly want to sell the yen because of easing hopes. At home, foreign buying will likely wane out during the final week but buying from institutional investor through LTFs will keep helping shield the market eventually.

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