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Thai Online Trading May Take Off Once Investors Gain Confidence in System.
Byline: Krissana Parnsoonthorn
Oct. 1--Jane, a young executive working at a local export company, glances down at her mobile phone. A message has just arrived in her mailbox, notifying her that one of her portfolio stocks has just passed a trigger point.
Turning to the computer terminal on her desk, she quickly logs in to the Internet and accesses her stock account information. A few minutes later, she's input several transactions, a sell order to lock in profits from another trade and a buy on another stock that she's been tracking for several weeks now.
But while the telecommunications and technology infrastructure for online stock trading has been available for months, the actual usage remains relatively low.
Trades through the Internet are estimated to now account for just 0.5 percent of daily market turnover, up from 0.2 percent at the beginning of the year. Still, this pales in comparison with other Asian countries such as Korea, where online trade is estimated to account for as much as two-thirds of stock turnover.
Acceptance of online trade in Thailand has been hindered by a number of obstacles, including relatively low PC penetration and Internet usage, a sluggish share market and wariness among investors regarding new technology.
But Somkid Jiranuntarat, chief executive of Settrade.com Co, expressed confidence that online trade would grow steadily in the future.
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