Thailand ETF Plunges on Shinawatra Indictment Fears

Shares of the iShares MSCI Thailand Capped Investable Market Index Fund
are off more than three percent Friday and are flirting with their lowest levels in about six weeks on fears the country's recently approved $68 billion infrastructure spending bill could violate the Thai constitution along with rumors Prime Minister Yingluck Shinawatra could be indicted. Earlier this week, Thailand's cabinet approved the $68 billion infrastructure plan,
previously hailed as a potential boon to THD
because the ETF allocates about 40 percent of its combined weight to sectors that would benefit from improved infrastructure such as energy, telecommunications and utilities. The infrastructure programs includes billions to be spent on railroads, something the Southeast Asian nation is in desperate need of. The country is an export-driven economy and is located at the heart of the ASEAN region, yet has less than 4,000 kilometers of single-track railway. Combine that with sub-par roads, and Thai exporters face significant logistical challenges just to get their products out of the country. Now, the infrastructure plan could be in jeopardy, and Shinawatra's job could be on the line, but for different reasons. Just 18 months into her term as Thailand's first female prime minister, Shinawatra is under fire for issuing a passport to her brother, former Prime Minister Thaskin Shinawatra. He served as prime minister from 2001 to 2006 before being overthrown in a military coup. Thaskin's regime was toppled on charges of graft and corruption and he has been in self-exile for more than six years since. It is believed that Thaskin still holds sway over the Red Shirts,
an anti-establishment group
whose protests with the Yellow Shirts weighed on THD in three years ago. In other words, Thaskin Shinawatra can be considered a polarizing figure in Thailand, but unfortunately for his sister and THD shareholders, Thaskin is not his sister's only problem. The current prime minister is also under fire because of discrepancies in paperwork she submitted to the National Anti-Corruption Commission upon becoming prime minister. At issue is the fact that her husband, Anusorn Amornchat, amassed a position of over 4 million shares in a Thai company called Ad Index before his wife became an obvious candidate for prime minister. The prime minister said she made a loan to the company in 2006, though records indicate no such loans
appear on the company's books until 2007
. Ad Index is not one of THD's 92 holdings. The loss of Yingluck as prime minister could have near-term consequences for THD, assuming the worst-case scenario plays out. Thailand already has a history of political volatility and THD has shown a penchant for adversely reacting to that volatility. Additionally, it is worth remembering that many market participants wanted Yingluck to emerge victorious in 2011 because she was viewed as the pro-business candidate. Investors have been rewarded as THD was trading in the low $50s 18 months ago. On March 18, the ETF traded above $93. THD's Friday decline has taken the ETF below its 50-day moving average and the ETF could fall another six or seven percent before finding next support, indicating the fund is at an important fundamental and technical juncture. For more on Thailand, click

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11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.


Featured image sourced from Shutterstock

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