trades of 71 stocks actively traded on the SET from March 2000 to June 2002. During this time, the market experienced three distinct conditions: bullish, bearish, and neutral. The study concludes that the

of positive feedback trading, buy (sell) trades are more expensive to execute (i.e., incur higher total price impact) than sell (buy) trades on bullish (bearish) markets. • “Price impact asymmetry is

2 assets, and the remaining 6 assets are in the divestment process. This year, we are still passionate about people development, which will be done through various training and promote a collaborative

will soon be disrupted faster, hence the Company needs to be agile. We are passionate about people development through training, workshop and culture reform. We promote a collaborative and innovative

รดงักล่าวอาจจะบรรเทาลงหากกิจการ สามารถระดมทุนจากผูล้งทุนในอีกประเภทหน่ึงซ่ึงมีความมัน่คงพอสมควรในดา้นสถานะทางการเงิน และมี ธรรมชาติท่ีพร้อมในการสนับสนุนทุนแก่กิจการเหล่านั้น (passionate risk taker

initiatives abroad, as well as a bullish interest rate trend. As a result, business income and costs were adversely affected. Under these circumstances, KBank put in place more stringent customer approval

and its trade partners’ retaliatory measures, bullish interest rates, and impacts of digital disruption which may adversely affect income and operating costs of certain businesses. At the same time

, protectionist measures of core economies, bullish interest rates and impacts of digital disruption, may adversely affect income and operating costs of certain businesses. Under these circumstances, KBank put in

would allow them to promptly respond to these new developments. For example, competent auditors who are farsighted and passionate in their learning would be best equipped to adjust to any changes. Hence

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...