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World’s biggest stock rout deepens as Thai market rescue falters
Seven months after $4.5 billion was newly injected into the Vayupak Fund, analysts have been left perplexed by how little it’s helped the benchmark SET Index. The stock gauge has tumbled more than 16% this year, making it the world’s worst performer among 92 indexes tracked by Bloomberg. Over the past 12 months, foreigners pulled out $4.2 billion, the most across Southeast Asia.
At the heart of weak investor sentiment is a lack of confidence that policymakers will be able spur the economy beyond tourism, as well as deep-rooted concerns about high household debt, political uncertainties and corporate scandals. US President Donald Trump’s tariff war is adding to the headwinds as a stronger dollar has forced investors to flee from emerging markets.
The faltering rescue plan — which aims to revive the stock market by investing into local firms — is offering policymakers and investors a warning about the ability of state-run investment funds to spur markets. What Thailand’s government does next will determine its status among market peers.
When authorities announced fundraising for Vayupak last August, analysts lauded the news, with Goldman Sachs Group Inc. upgrading Thai stocks on expectations it would help attract foreign capital. Political instability and poor corporate earnings had roiled Thailand’s markets for much of 2024, and officials pinned their hopes on a stock market renaissance on the fund.
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The market rallied for a while before the challenges set in. Government data showed that Thailand’s
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Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
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Even at $5 trillion, Nvidia is underappreciated
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Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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