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2011

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Top 11 of 2011

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10
9
8
7
6
5
4
3
2
1

January Effect

Operation Twist

FTSE

Commodities



14 2540

() 2553
2554 ...

2554





...

2554

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 11
2554

1

2554
2-3

11 2554



1%

10

-6%

-14%
1,392 8,605.15
10.55%
( 6 )





Safe Haven



11

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 10 - January Effect 2011

January Effect 2553
1,000
Quantitative Easing 2
Commodities

QE Operation Twist
11

2554
1-2%



January
Effect
2554
21 2554
7,703.49 January Scary 24 2554
4.26% 4,049.49
10 2554
28,629.97

12

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 9


2554

7
9




5

300

4 2554
+4.69% 63,110.36
4,524.92 1,616.20
9
10,703.13 6

13

 8 Operation Twist
Operation Twist Quantitative
Easing

QE2

Operation Twist
Operation Twist 1961

4
4

14

( A)

( B)
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(Yield Curve) Steep Curve
A Flat Curve B

15

(US GDP 2009-2011)

16

2554
2553 1032.76
1030 1050 2554
2553

24 2554
1037.37 2554
0.45%

1
5

121% GDP ( GDP 2.1 )
2555


7

( 2553 2553)
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 6 FTSE

FTSE

()
FTSE Group ? FTSE
FTSE
MSCI ( Morgan Stanley) MSCI
3 S&P, Fitch
Moodys

21 2554

Advanced Emerging Market
Secondary Emerging Market
2555
FTSE 4
(Developed Market), (Advanced Emerging Market),
(Secondary Emerging Market)
(Frontier Market)
FTSE 1
9 , , , ,
, , ,

(Emerging
Market)

2555 6

17

18

2554
() DTAC
DTAC

3G
DTAC

AIS DTAC
20% (
)

DTAC

DTAC
( 2)
3
DTAC

3G 7-8 /
10 DTAC
16 54
DTAC
1,400
30,000 1,500

DTAC 40 90

30 2554

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 DTAC Singtel
(?)
ADVANC AIS 61
130 7,930
(INTUCH) 2
2555


ICT


High Season ICT





(New High)





5

19

 4

1148.28 1 2554

(Global Recession Fear)

6 ( 5
) Standard&Poors (S&P)
1
2

3-4% New High 2554

20

2555
AAA


2554 4

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 3 Commodities
2553 1
2554 50% ? 90%

50% 1
... 23 2553 1,228
23 2554 1,917
New High 1,900

S&P
1 56%
1
()



...


1
Quantitative Easing 2 2553
100 /
() 5 2554
910%
2-3%
...
New High

2553 2554

3

21

 2

30 /
() () ()
2554

()




...
...

22

4 1

?



(
10% )

() ...

NPL ()
NPL

SME
SME

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23

 1 ()

24

30
3
10% 30


...
30%

-19.52%

-108.41
14.84% 25,121.58 (
Bid )


(Lehman Brothers)

10 27 2551 2 3

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( )

25

(Circuit Breaker)
4 2 6
2554

5

mai
10%
5
(...)
26

5
Long






24 2554 2

26

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