SEC out to calm market

 The securities watchdog said that the fiasco has no direct impact on Thai business. The SEC and related supervisory units have closely monitored the impacts on listed companies and securities companies.

 "Following Lehman Brothers' plan to file for bankruptcy and its impacts on regional and Thai exchanges in line with foreigni investors' sell-offs, the SEC would like investors to be thorough in their stock investment. Thailand's economy remains stable and on the right track," said SEC Deputy Security-General Prasong Winaipaet.

 He added that the watchdog has worked closely with all related agencies. Lehman has no securities business in Thailand. Meanwhile, commercial banks are also under tight supervision. "This should ease investors' worries," he said.

The Thai market opened 23.45 points or 3.65 per cent lower at the open. It ended the morning session with a 25.46 points or 3.96 per cent loss on turnover of Bt7.6 billion.