Comments on: “Trading costs on the Stock Exchange of Thailand” Authors: Charoenwong C., Ding D.K., Jenwittayaroje N. Comments on: “Risk-taking behaviour during downturn: evidence of loss-chasing and

of indicative price minute-i th to the closing price of the stock i day t 𝑅𝑒𝑡𝑢𝑟𝑛𝑐𝑙𝑜𝑠𝑒−𝑐𝑙𝑜𝑠𝑒is the log return from price of day t-1 to day t. 𝑅𝑒𝑡𝑢𝑟𝑛𝑐𝑙𝑜𝑠𝑒−𝑐𝑙𝑜𝑠𝑒 = 𝛼 + 𝜷

Day trading strategy • We divide each day into 5-minute intervals. In first interval of the day that a stock reaches its threshold price, we buy the stock. In subsequent intervals, if it goes up or down

Mitsui Trust Asset Management In this session, Ms. Sophia Cheng and Mr. Takeshi Wada will give a 10-minute presentation each on their existing ICAPs and how they came to develop these plans. 5. Breakout

and offer Note: this analysis followed a methodology of Analysis of High-frequency Trading at Tokyo Stock Exchange, The Securities Analysts Association of Japan (Hosaka, 2014) Common stocks. For the

600 579 593 590 581 Prepaid 186 181 182 182 183 Blended 251 244 251 254 256 MOU (minute/sub/month) Postpaid 296 280 271 264 257 Prepaid 201 190 169 163 151 Blended 215 205 186 181 170 VOU (GB/data sub

for approval, including benefits and impacts which may occur from the issuance of the regulations as well as the guidelines for enforcement of such regulations. (2) a minute of the board of directors

/sub/month) Postpaid 537 498 486 -9.4% -2.3% Prepaid 173 157 154 -11% -1.9% Blended 252 237 234 -7.0% -1.2% MOU (minute/sub/month) Postpaid 212 189 187 -12% -1.6% Prepaid 92 78 79 -15% 0.9% Blended 118

% MOU (minute/sub/month) Postpaid 187 177 169 -9.6% -4.6% Prepaid 79 67 66 -16% -1.8% Blended 105 95 93 -11% -2.8% VOU (GB/data sub /month) Postpaid 21.6 26.2 27.1 25% 3.4% Prepaid 16.5 20.9 23.5 43% 12

% Blended 224 212 213 -4.6% 0.8% MOU (minute/sub/month) Postpaid 174 155 153 -12% -1.3% Prepaid 66 58 58 -12% —% Blended 92 82 82 -11% —% VOU (GB/data sub/month) Postpaid 27.1 31.9 33.8 25% 6.0% Prepaid 23.5