RESILIENT STOCK MARKETS QUICK TO BOUNCE BACK

       When the 158-year-old Lehman Brothers went bankrupt on September 15 last year, its ripple effect shook financial and stock markets across the world. However, a year later we can see light at the end of the dark tunnel.
       Today, major stock markets around the world are climbing back to pre-crisis levels or even above that level. The Dow Jones Industrial Average at close on Monday was 11.82 per cent lower than it was ahead of the Leh
man collapse.
       Japan's Nikkei 225 Index is another stock market where share prices are still below the pre-crisis level. It closed on Monday at 10,202, compared with 12,214.76 at the close on September 12 last year.
       Other major stock markets in the Asian region are trading at a level higher than pre-crisis.
       The Shanghai Composite Index was the best performer. As of Monday, it traded 45.5 per cent higher than the pre-crisis level, followed by Indonesia's Jakarta Composite Index at 32.07 per cent and India's Sensex Index at 15.81 per cent.
       Other positive performers were South Korea's Kospi Index at 10.72 per cent, Hong Kong's Hang Seng at 9.12 per cent, Philippines Stock Exchange index at 6.34 per cent, the SET composite Index at 6.11 per cent and Singapore's Straits Times Index at 2.69 per cent.
       Among stocks listed on the SET50 Index, representing 70.24 per cent of the SET50 Index, representing 70.24 per cent of the total bourse's market capitalisation, there were 24 securities as of Monday that outperformed the SET index.
       TMB Bank, Thailand's sixth largest bank by assets, performed the best among stocks in the SET50 index. At close on Monday it shot up 68.14 per cent from its close on September 12, 2008, thanks mainly to the Netherlands-based ING's proposal to buy additional stocks of Thai banks from the Finance Ministry.
       Charoen Pokphand Foods saw its share price jump 67.89 per cent from Bt4.08 at the close on September 12, 2008 to Bt6.85 at the close on Monday on the back of its thriving outlook.
       Khon Khaen Sugar Industry's stock soared 61.63 per cent, from Bt8.60 to Bt13.90, on strong demand after India, the mainsugar-cane exporter, faced a drought situation. Siam City Bank gained 60.58 per cent, while CP All, the 7-Eleven convenient store operator, at 60.55 per cent.
       Siam Cement advanced 45.27 per cent, Thai Airways International climbed 43.24 per cent though the company is undertaking business restructuring and is suffering from the falling number of foreign tourists.
       Thanachart Capital rose 42.11 per cent, Preuksa Real Estate surged 36.84 per cent, and Siam City Cement gained 30.54 per cent.
       On the other end of the scale, 26 stocks underperformed the SET composite Index.
       Dusit Medical Services (BGH), the luxury hospital-service provider, was the worst performer. The stock sank 30.43 per cent due to the economic slowdown and the lower number of foreign patients.
       Italian-Thai Development, Thailand's leading constructor, was the second with a 28.31-per-cent decline.
       Another luxury hospital, Bumrungrad Hospital saw its share price slump 22.63 per cent to Bt26.50 on Monday from Bt34.25 at the close before the US investment banker collapsed.
       Cal-Comp Electronics (Thailand) lost 14.72 per cent, Minor Internatinal was off 14.63 per cent, Siam Makro dropped 14.12 per cent.
       Bank of Ayudha slid 12.14 per cent, Thai Plastic and Chemicals diped 10.89 per cent, Thai Tap Water Supply was down 9.73 per cent. MCOT dived 8 per cent, MBK Development fell 7.61 per cent and Land & Houses declined 6.15 per cent.
       Share prices of eight other stocks were still traded below the pre-crisis level.
       These stocks are Thai Oil, BID C Supercentre, Thoresen Thai Agencies, BEC World, IRPC, Total Access Communication, Esso (Thailand), and Precious Shipping.
       The share prices of six stocks exceeded or remained unchanged from the pre-crisis level. They are PTT 5.33 per cent gain, PTT Exploration and Production 4.74 per cent, Ratchaburi Electricity Generating Holding 3.42 per cent gain and Delta Electronics 2.35 per cent gain. Bangkok Expressway was unchanged at Bt18.50.