SET slumps over delay in US stimulus measures, political unrest #SootinClaimon.Com

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SET slumps over delay in US stimulus measures, political unrest

EconOct 22. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,213.61 on Thursday, down 2.87 points or 0.24 per cent, while transactions tallied at Bt66 billion with an index high of 1,223.48 and a low of 1,204.73.

In the morning session, a Krungsri Securities analyst said he expected the index to fall to 1,210 points due to uncertainty over fresh US economic stimulus measures.

“The market expects the rollout of the latest stimulus bill to be delayed after added conflict between the Democrats and the Republicans,” he said.

“Meanwhile, the falling oil price due to the second Covid-19 wave, Thailand’s political unrest and mass sell-offs in stocks before the upcoming three-day holiday will pressure the index,” the analyst predicted.

The top 10 stocks with the highest trade value today were SCGP, CPALL, STA, NER, PTTEP, AOT, GULF, SCC, KBANK and PTT.

As of 4.30pm, the price of oil rose by US$0.07 or 0.17 per cent to $40.10 per barrel, while gold dropped by $9.90 or 0.51 per cent, to $1,919.60 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,474.27, down 165.19 points or 0.70 per cent.

China’s Shanghai SE Composite Index closed at 3,312.50, down 12.52 points or 0.38 per cent, while Shenzhen SE Component Index closed at 13,396.18, down 71.73 points or 0.53 per cent.

Hong Kong’s Hang Seng Index closed at 24,786.13, up 31.71 points or 0.13 per cent.

South Korea’s KOSPI Index closed at 2,355.05, down 15.81 points or 0.67 per cent.

Taiwan’s TAIEX Index closed at 12,917.03, up 39.78 points or 0.31 per cent.

SCGP shares rise on first day of trading after IPO #SootinClaimon.Com

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SCGP shares rise on first day of trading after IPO

EconOct 22. 2020

By The Nation

The price of SCG Packaging (SCGP) shares on the first day of trading on Thursday rose to Bt37 per share, up 5.71 per cent from its initial public offering (IPO) price of Bt35, with the company seeing total transactions of Bt6.26 billion.

The Siam Cement subsidiary launched the IPO to raise approximately Bt45 billion in capital from September 28 to October 7 this year.

SCGP chief executive officer Wichan Jitpukdee said Bt27 billion from the fundraising would be used for business expansion, Bt8.2 billion of which would go to increase the company’s production capacity in Thailand, Vietnam, the Philippines and Indonesia.

Wichan also said Bt13 billion would go for repaying debts to financial institutions and Bt4.5 billion would be used as a circulating fund.

“This fundraising will help expand SCGP’s business in Asean countries, especially Thailand, Vietnam, Indonesia, the Philippines and Malaysia,” he said.

SCGP, which is a large-cap stock with a market capitalisation of around Bt150 billion, has the chance to be listed in the SET50 or SET100, an analyst at Asia Plus Securities said.

The analyst meanwhile expected Thanachart Capital, with a market capitalisation of Bt35 billion, to be delisted from the SET50 or the Erawan Group, with a capitalisation of Bt80 billion, to be delisted from the SET100.

“We expect SCGP’s revenue this year to be Bt6.99 billion, up 32.8 per cent year on year, while company profit is expected to be Bt8.33 billion, up 19.1 per cent year on year,” the analyst added.

SET falls amid doubts over fresh US economic stimulus measures #SootinClaimon.Com

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SET falls amid doubts over fresh US economic stimulus measures

EconOct 22. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 5.70 points, or 0.47 per cent, to 1,210.78 in the morning session on Thursday.

An analyst at Krungsri Securities expected the index to fall to 1,210 points due to uncertainty over fresh US economic stimulus measures.

“The market expected the rollout of the latest stimulus bill to be delayed after added conflict between the Democrats and the Republicans,” he said.

“Meanwhile, the falling oil price due to the second Covid-19 wave, Thailand’s political unrest and mass sell-offs in stocks before the upcoming three-day holiday would pressure the index,” the analyst pointed out.

He recommended investors buy shares of TU, STGT, CBG, SCC, IVL, Com7, Synex, Asian, Delta, Hana, SVI and TVO, whose third-quarter performance is expected to grow.

The SET Index closed at 1,216.48 on Wednesday, up 5.81 points or 0.48 per cent. Total transactions amounted to Bt54 billion, with an index high of 1,222.62 points and a low of 1,211.85.

Gold price drops despite rise in global market #SootinClaimon.Com

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Gold price drops despite rise in global market

EconOct 22. 2020

By The Nation

The price of gold dropped by Bt50 per baht weight in morning trade on Thursday, the Gold Traders Association reported.

As of 9.24am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300, while gold ornaments cost Bt27,697.32 and Bt28,800, respectively.

At close on Wednesday, the buying price of a gold bar was Bt28,250 per baht weight and selling price Bt28,350, while gold ornaments cost Bt27,742.80 and Bt28,850, respectively.

The spot gold price moved to US$1,913 (Bt59,896) per ounce in the morning after the price rose by $14.10 to $1,929.50 per ounce at close on Wednesday from a weakening dollar, as well as uncertainty over the rollout of fresh US economic stimulus measures and the Covid-19 crisis.

The Hong Kong gold price meanwhile dropped by HK$10 to $17,750 (Bt71,710) per tael on Thursday morning, the Chinese Gold and Silver Exchange Society reported.

Govt’s first priority is economic recovery, not charter change, says energy minister #SootinClaimon.Com

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Govt’s first priority is economic recovery, not charter change, says energy minister

PoliticsOct 22. 2020

By The Nation

In a discussion on Thursday about the ongoing anti-government protests, Energy Minister Supattanapong Punmeechaow said this was not the right time for rallies, because the Thai economy has only just started pulling out of the downturn brought on by the Covid-19 outbreak.

He said the International Monetary Fund has only just revised its growth forecast for Thailand from a drop of 7.7 per cent to 7.1 per cent this year.

Meanwhile, the central bank’s debt extension starting to move in a favourable direction with some 94 per cent of the debtors restructuring their debts or negotiating new repayment terms.

He said that though the new generation is prioritising charter amendments and democracy, they should understand that the country’s priority now is economic recovery and people’s safety.

“For them, amendments to the Constitution take precedence, but for us, we are looking for an economic recovery plan, preventing a second wave of Covid-19 infections and maintaining political stability. We all have the duty to maintain stability so we can safely pull out of this crisis,” he said.

Police hunt for yellow shirts who hurt Ramkhamhaeng University protesters #SootinClaimon.Com

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Police hunt for yellow shirts who hurt Ramkhamhaeng University protesters

PoliticsOct 22. 2020

By THE NATION

Huamark Police Station has launched a manhunt for the yellow-shirt royalists who injured student protesters at Ramkhamhaeng University’s Huamark campus on Wednesday.

A group of royalists had a skirmish with student protesters rallying at the university, and some students were injured when some members of the yellow-shirt group threw a big speaker at them.

The clash was quickly defused by officers at the scene.

Police have said that so far they have not been able to identify the offenders, and will summon the injured persons to point out the attackers.

Members of the Ramkhamhaeng Network for Democracy group were scheduled to file a complaint with Huamark Police Station on Thursday afternoon.

Human rights activist says PM’s response to protesters is insincere #SootinClaimon.Com

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Human rights activist says PM’s response to protesters is insincere

PoliticsOct 22. 2020

By THE NATION

In a Facebook post on Thursday, human rights activist Angkhana Neelaphaijit said the solution Prime Minister Prayut Chan-o-cha proposed on Wednesday evening was insincere and two-faced, because the government always says one thing and does another.

In a televised address, Prayut urged protesters to step back from a “path that would lead to the country’s downfall” and promised to lift the “severe” state of emergency in the capital if nothing serious takes place.

“The arrest of protest leader Passarawalee Thanakijwibulpol of the Mahanakorn for Democracy Group on Wednesday night raises questions about the operation of undercover police,” said the former member of the National Human Rights Commission.

“The authorities should have issued a summons instead of arresting a woman in the middle of the night without presenting any official ID. This is in clear violation of International Convention on Civil and Political Rights, to which Thailand is a signatory.

“The police spokesperson also spread false information when she announced on Wednesday that the suspension of BTS services was a cooperation between BTS and the Royal Thai Police. Later, BTS announced that they were ordered by the National Police chief to suspend train services during the protests,” Angkhana said.

“Police also have yet to explain what chemical was mixed in the water that they sprayed on protesters at Pathumwan intersection on October 16.

“If the government genuinely wants to step back from the brink, they need to revoke the state of emergency immediately and release all protest leaders that have been arrested, while PM must admit that he made a mistake in handling the situation,” said Angkhana.

Angkhana also cited UN Special Rapporteur in Freedom of Association Clement Voule, who has called on the government to refrain from using force against peaceful protesters, because “peaceful protest is not a crime but a democratic means for people to express their grievances and demands”.

Prayut announced that the state of emergency was being lifted as of noon on Thursday.

Royalist groups to swear loyalty to Monarchy in nationwide gatherings #SootinClaimon.Com

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Royalist groups to swear loyalty to Monarchy in nationwide gatherings

PoliticsOct 22. 2020

By The Nation

Many royalist groups nationwide said they would hold gatherings to swear loyalty to the Monarchy.

The schedule is as follows:

October 22

Ratchaburi: Sanamya Market in Mueang district at 3.09pm.

Pattani: Culture yard in Mueang district at 3pm.

Phra Nakhon Si Ayutthaya: King U-Thong Monument at 4pm.

October 23

Trang: Governor’s House at 5.30pm.

Nakhon Pathom: Chalerm Prakiat Hall in Nakhon Chai Si district at 9.30am.

Saraburi: Old City Hall at 5pm.

Songkhla: Saba Yoi District Office at 1pm, Hat Yai district office at 5pm, and Hat Yai park at 6.09pm.

Chaiyaphum: Chao Pho Phraya Lae Monument at 5pm.

Nakhon Si Thammarat: Sichon District Office at 9.30am.

Chanthaburi: City Hall at 5pm.

Phang Nga: Old City Hall at 5pm.

Phichit: Old City Hall in Mueang District at 5.30pm.

Chiang Mai: Three Kings Monument at 4pm.

Chumphon: Mueang District Office at 5pm.

October 24

Surat Thani: Naris Bridge in Mueang district at 3pm.

October 25

Rayong: Rayong City Hall at 6pm.

Nakhon Si Thammarat: Pavilion in Khu Khwang-Tha Wang Khet 3 Community at 5pm.

Yala: Suan Khwan Mueang in Yala City Municipality at 5pm.

October 27

Bangkok: King Rama VI Monument in Lumpini Park at 5pm.

October 31

Bangkok: King Ramkhamhaeng Square in Ramkhamhaeng University’s Huamark campus at 4pm.

Critics claim many of the royalists have been recruited by state officials, while some pictures and a clip on social media have shown “yellow-shirt” activists making the three-finger salute, demonstrating their support for the youth-led democracy movement.

Bangkok uni launches probe into campus rally violence #SootinClaimon.Com

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Bangkok uni launches probe into campus rally violence

NationalOct 22. 2020

By The Nation

Ramkhamhaeng University has urged royalists and student-led protesters to rally peacefully, a day after the rival groups clashed at its Huamark campus in Bangkok.

Acting rector Asst Prof Wuttisak Lapcharoensap said skirmishes between royalists and protesters on Wednesday evening were “depressing”, adding that neither side had asked permission to rally at the campus.

“After the incident, we asked both parties to leave the area and urged Ramkhamhaeng Network for Democracy protesters to hold their anti-government rally in front of the [university] president’s office instead,” he said. “We also asked police to send more officers to the area.”

The university set out its stance on the protests in six points:

1. Ramkhamhaeng condemns the violence and its perpetrators.

2. The university will not stop students from expressing their views.

3. It asks both royalists and protesters to hold activities peacefully in line with the law.

4. It is ready to assist those injured during the clash yesterday.

5. The university will establish a committee to investigate the incident and will punish any university officials found to be involved.

6. The university asks both sides to respect differences in people’s viewpoints.

Wuttisak also said the university would take legal action against anyone who harmed its students.

“The university will close its entrance when royalists or protesters hold activities in the area,” he added.

Limping student protest leader charges royalist group with assault #SootinClaimon.Com

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Limping student protest leader charges royalist group with assault

NationalOct 22. 2020

By The Nation

Members of Ramkhamhaeng Network for Democracy led by Thitima Butdee, 19, visited Bangkok’s Hua Mark police station on Thursday to file an assault complaint against a group of royalists.

The two groups clashed on Wednesday after yellow-clad royalists broke through metal fencing to get to pro-democracy protesters rallying at Ramkhamhaeng University.

Eyewitnesses said a royalist dropped a speaker onto Thitima, rupturing a tendon in her left foot and leaving her in plaster.The accused man said he had been provoked by the student-led protesters, an allegation rejected by Thimita who also questioned why the adult royalists had shown less emotional stability than the adolescent protesters.She also condemned the royalist group for not tolerating different political viewpoints and resorting to violence.