The foreign securities measure, planned by the end of the year, goes
hand in hand with moves by the 10 countries of the Association of Southeast
Asian Nations (ASEAN) to integrate their economies.
Earlier this month, the stock
markets of Thailand, Singapore and Malaysia allowed authorised brokers to deal
directly in shares in all three countries. Before, brokers needed to work
through a local counterpart in the foreign market.
Thailand has been relaxing rules
on outward capital investment for some years, one aim being to take upward
pressure off the baht. Its rise stalled as the dollar rallied in 2011 but the
Thai currency has risen about 2.7 percent so far in 2012.
New regulations due by next week
will let listed companies invest directly in securities and derivatives abroad
and let Thai residents invest in foreign-currency bonds offered in Thailand.
The Bank of Thailand is also
recommending to the Finance Ministry that it remove the cap on outward direct
investment by Thais, as well as limits on portfolio investment abroad, by early
2013.
Reuters
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