Thailand's SEC watches out for stock manipulators

BANGKOK, December 17 (TNA) - The Thai Cabinet has ordered the Securities and Exchange Commission (SEC) to watch out for stock manipulators. Thai Finance Minister Sommai Phasee told journalists that the Cabinet made the instruction at its weekly meeting in Bangkok on Tuesday, in response to the declining Stock Exchange of Thailand (SET) index. Sommai explained that stock manipulators were active and would take buying opportunities when share prices fell. The finance minister insisted that the falling SET index since late last week was caused mainly by external factors, including a fall in world oil prices, which has affected listed oil firms and the SET. Meanwhile, Thai Prime Minister General Prayut Chan-o-cha advised stock traders not to believe rumors while authorities are watching out for stock manipulators. Asked how investors' confidence could be restored, the prime minister said no one should believe rumors and the media should stop reporting issues affecting national security. The SET index continued to decline 16.75 points, or 1.13 points, closing on Tuesday afternoon at 1,461.74 points, after the US Dow Jones Industrial Average index kept falling 0.65 per cent or 111.97 points, closing Monday evening (US time) at 17,068.87. (TNA)