Shares of MFC Global Equity Fund (BKK:MGE) closed at 7.9 yesterday. MFC Global Equity Fund currently has a total float of 49.47 million shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 7.9 and high of 7.9.
Thailand’s Recovery From 1997 Asian Financial Crisis
Thailand has long been gradually growing as one of the best economies Asia has. It supports a lot of companies like MFC Global Equity Fund with many new clients. With its own efforts geared towards a fast-paced economy growth, Asia is able to thrive.
Thailand’s Role in the 1997 Asian Financial Crisis
Amid the setbacks it had put Asia through, the 1997 Asian Financial Crisis nonetheless served as a trampoline that facilitated an enormous jump in the Asian economy from the ground up.
The turmoil had started in Thailand after the national currency fell. As a result, the country had suffered from bankruptcy due to the lack of foreign currency support. What was originally a national economy dilemma rippled to other parts of Asia, greatly shaking the economies of Indonesia and South Korea as well. Hong Kong, Laos, Malaysia, and Philippines had also been affected. Lessons from this crisis were lifechanging for a lot of businesses at the market, including MFC Global Equity Fund.
Eventually, Thailand and all of Asia had been able to recover from the repercussions that the 1997 Asian Financial Crisis brought. Specifically, equity and foreign exchange markets in Asia had been able to stabilize, slowly leading the region to a much-needed healing.
The Stock Exchange of Thailand (SET), just like how Thailand had played an important role in the dilemma, had also played a major role in the recoup process. Until now, it is helping not only the country but the entire Asian economy to grow further, efficiently offsetting the losses accumulated in the past.
The SET is the primary stock exchange in Thailand. Founded on April 18, 1975, it is one of the youngest stock exchanges in Asia. Despite this, the SET has already proven itself to be as valuable as any major stock exchanges in the world.
The pre-market morning session on the SET starts at 9:30 a.m., and ends anytime between 9:55 a.m. and 10:00 a.m. The regular morning session starts anytime between 9:55 a.m. and 10:00 a.m., and ends at 12:30 p.m. Meanwhile, the pre-market afternoon session starts at 2:00 p.m., and ends anytime between 2:25 p.m. and 2:30 p.m. The regular afternoon session starts anytime between 2:25 p.m. and 2:30 p.m., and ends at 4:30 p.m. Lastly, the post-market session starts at 4:30 p.m., and ends anytime between 5:00 p.m. and 5:10 p.m.
The SET Index is the benchmark index weighing all the stocks listed on the SET. It is too broad of an economic indicator, which is why it is divided into two sub-indices: the SET50 and the SET100. This structure make the work of MFC Global Equity Fund easy. The former tracks the 50 biggest stocks on the SET while the latter tracks the 100 biggest stocks. A stock needs to be included in the SET100 before it is included in the SET50.
The SET50 was first published in August 1995. It measures stocks using a base value of 1,000. Its rebalancing happens semi-annually every December and June.
Thailand is home to endless growth potentials, making it ideal for investors to penetrate the Thai equity market today.
MFC Global Equity Fund is an open-ended equity mutual fund launched and managed by MFC Asset Management Public Company Limited. The company has market cap of $390.79 million. It is co-managed by Wellington Management Company, LLP. It currently has negative earnings. The fund invests in the public equity markets across the globe.
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