Indonesia had a little bounceback but still continues to $hit the bed. Let’s see how the flows move, coming weeks will be interesting. Back to Thailand…well, every country that imports energy…oil is high…refineries are still maxxed out…how long can countries continue to sub these high energy prices? And will the refineries trade at replacement value? US big boys are 2-3x book. Let’s see…national service is the risk but as seen w/ BCP, the MoF is simply asking for a larger divvy.

For a moment there was a fear that banks may not do the high levels of paying shareholders..but with TTB sharebuyback announcement, that’s a signal it continues.

As for the rest … let’s see…it’s coming to the last trading month of the year – no one in Thailand works in December, the last bit of sector rotation is taking place.