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https://www.nationthailand.com/business/40004149

SET bucks expectations with 1% rise

The Stock Exchange of Thailand (SET) Index closed at 1,540.51 on Tuesday, up 15.40 points or 1.01 per cent. Transactions totalled THB69.69 billion with an index high of 1,540.52 and a low of 1,524.37.

In the morning session, Krungsri Securities expected the SET Index today to fluctuate between 1,515 and 1,535 points. Market conditions indicated negative sentiment from a weakening crude oil price and disappointing July figures for the US and Chinese manufacturing sectors.

The extension of Thailand’s partial lockdown for another month in the Dark Red zone and expansion of the zone to 29 provinces are adding to negative sentiment, Krungsri Securities said.

However, it expected mass buy-ups of shares in the export sector and improved second-quarter corporate results to support a rebound of the index.

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The 10 stocks with the highest trade value today were KBANK, ADVANC, SCB, PTT, BANPU, DTAC, RCL, BCH, BBL and GUNKUL.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 27,641.83, down 139.19 points or 0.50 per cent.

China’s Shanghai SE Composite Index closed at 3,447.99, down 16.29 points or 0.47 per cent, while the Shenzhen SE Component Index closed at 14,736.92, down 61.24 points or 0.41 per cent.

Hong Kong’s Hang Seng Index closed at 26,194.82, down 40.98 points or 0.16 per cent.

South Korea’s KOSPI closed at 3,237.14, up 14.10 points or 0.44 per cent.

Taiwan’s TAIEX closed at 17,553.76, up 50.48 points or 0.29 per cent.

Published : August 03, 2021

By : The Nation

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https://www.nationthailand.com/business/40004132

Overall negative sentiment limits upside for SET

The Stock Exchange of Thailand (SET) Index rose by 3.06 points, or 0.20 per cent, to 1,528.17 on Tuesday morning.

The SET Index closed at 1,525.11 on Monday, up 3.19 points or 0.21 per cent. Transactions totalled THB66.33 billion with an index high of 1,525.73 and a low of 1,513.71.

A Krungsri Securities analyst expected the SET Index on Tuesday to fluctuate between 1,515-1,535 points. The market’s condition indicated negative sentiment from the weakening of crude oil price and manufacturing sector figures of the US and China in July.

The extension of pandemic lockdown measures for an additional month and the expansion of the “dark red” zones to 29 provinces are also factors in the negative sentiment.

However, mass buy-ups of shares on specific positive sentiment sectors, such as the export sector and improved second quarter corporate results are expected to support the rebound of the index.

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Selective buying is recommended for the following stocks as an investment strategy:

▪︎ Exporters like HANA, KCE, TU, CPF, ASIAN and EPG, which will benefit from the baht’s depreciation.

▪︎ BCH, CHG, BDMS, DOHOME, BEM, CKP, CBG, OSP, ICHI, GPSC, BEC, GUNKUL, JWD, WICE, SONIC and NER, which are expected to report improved results for the second quarter.

Published : August 03, 2021

By : The Nation

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https://www.nationthailand.com/business/40004129

Covid situation still casts shadow over baht as foreign investors head for exit

The baht opened at 32.94 to the US dollar on Tuesday, unchanged from Monday’s closing rate.

The Thai currency is likely to move between 32.90 and 33.00 during the day, Krungthai Bank market strategist Poon Panichpibool said.

Poon said the baht was weakening while the US dollar could swing sideways. The baht was unlikely to strengthen soon as the Covid-19 situation in Thailand could worsen.

Foreign investors were still offloading their assets, such as stocks in Thailand, which would lead to a weakening of the baht, he predicted.

Poon believed the Thai currency would not weaken below 33 per US dollar if investors felt “safe” from the worldwide Covid-19 situation and hence did not need to hold onto safe-haven assets.

Published : August 03, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40004128

Gold holds firm in Thai market despite slide in spot price

The price of gold in Thailand on Tuesday morning was unchanged from Monday close.

The Gold Traders Association report at 9.26am showed buying price of a gold bar at THB28,150 per baht weight and selling price at THB28,250, while gold ornaments were priced at THB27,636.68 and THB28,750, respectively.

Spot gold on Tuesday morning dropped to US$1,812 (THB59,718) per ounce after Comex gold price at close on Monday rose by $5 to $1,822.2 per ounce, due to the depreciation of the US dollar and the drop in the US government bond yield.

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Hong Kong gold price, meanwhile, rose by HK$20 to $16,790 (THB71,167) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : August 03, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40004109

Stocks erase gain as yields dip on growth concerns

U.S. equities erased gains on Monday after Treasury yields extended a decline following softer-than-expected U.S. manufacturing growth amid lingering supply constraints.

The S&P 500, Dow Jones industrial average and Nasdaq 100 fell from earlier highs as investors considered the impact of the 10-year Treasury yield hitting as low as 1.15% on Monday, putting concerns about growth in focus.

“I think people are looking at the sharp drop in long rates and flattening of the yield curve and they are getting worried about economic growth,” said Peter Boockvar, chief investment officer for Bleakley Advisory Group. “That growth concern comes from the inflation-driven slowdown we’re seeing in some sectors in addition to delta variant worries in emerging markets.”

U.S. equities initially followed stocks in Europe and Asia higher amid upbeat earnings and a surge in corporate dealmaking, which had offset concerns over the spread of the delta virus variant and China’s regulatory crackdown. Square Inc.’s $29 billion deal for Afterpay Ltd. has put global dealmakers on course for the busiest-ever summer. Meanwhile, China’s market regulator has called for more cooperation with the U.S. on initial public offerings.

The unsteady moves at the start of the month come as August has historically been a month that starts off weak, especially if the S&P 500 is already up over 10%, according to Bespoke Investment Group LLC.

“Maybe in a year in which the S&P 500 performs so strongly heading into August, a pause is just what it needs before finishing off the year strong,” the Harrison, New York-based firm wrote in a note Monday.

But while August may be weaker, stock market bulls can claim to have history on their side. The S&P 500 rose for a sixth straight month in July — the longest such streak since 2018 — and the average 12-month return after similar runs in the past half century is 8.3%, according to data compiled by Bloomberg. Many risks remain, however.

A surge in the covid-19 delta variant could harm the U.S. recovery and keep some Americans from looking for work, Minneapolis Fed President Neel Kashkari said ahead of Friday’s U.S. jobs report.

Unexpectedly weak growth in manufacturing could also add to expectations for a steadier recovery after a key factory reading from China also slipped.

Meanwhile, tensions with Iran over a deadly attack on a tanker could also weigh on markets. Crude oil was lower on Monday after the U.S., Israel and the U.K. vowed to respond to the attack.

Matt Maley, chief market strategist for Miller Tabak + Co., said Monday’s performance could be attributed to bond yields and the drop in oil prices facing lower demand.

“If that is signaling lower growth, that could be a problem for stocks,” he said.

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Here are the main moves in the markets:

Stocks

Futures on the S&P 500 fell 0.2% as of 4:18 p.m. EDT

Futures on the Dow Jones industrial average fell 0.2%

The MSCI World index rose 0.4%

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Currencies

The Bloomberg Dollar Spot Index was little changed

The euro was little changed at $1.1871

The British pound fell 0.1% to $1.3888

The Japanese yen rose 0.4% to 109.31 per dollar

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Bonds

The yield on 10-year Treasurys declined five basis points to 1.17%

Germany’s 10-year yield declined three basis points to -0.49%

Britain’s 10-year yield declined four basis points to 0.52%

Commodities

West Texas Intermediate crude fell 3.4% to $71.46 a barrel

Gold futures were little changed

Published : August 03, 2021

By : Syndication Washington Post, Bloomberg · Kamaron Leach, Vildana Hajric

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https://www.nationthailand.com/business/40004092

SET up slightly despite expansion of lockdown measures in Thailand

The Stock Exchange of Thailand (SET) Index closed at 1,525.11 on Monday, up 3.19 points or 0.21 per cent. Transactions totalled THB66.33 billion with an index high of 1,525.73 and a low of 1,513.71.

In the morning session, Krungsri Securities predicted the index would fluctuate between 1,510 and 1,530 points after lockdown measures were extended to more provinces to curb the spread of Covid-19, impacting the economy and foreign fund flows.

“However, mass buy-ups of shares that have gained positive sentiment would help boost the index,” Krungsri Securities said.

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The 10 stocks with the highest trade value today were CPALL, AMR, PTT, CPF, TOP, AS, RCL, TTA, KBANK and AOT.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 27,781.02, up 497.43 points or 1.82 per cent.

China’s Shanghai SE Composite Index closed at 3,464.29, up 66.93 points or 1.97 per cent, while the Shenzhen SE Component Index closed at 14,798.16, up 324.95 points or 2.25 per cent.

Hong Kong’s Hang Seng Index closed at 26,235.80, up 274.77 points or 1.06 per cent.

South Korea’s KOSPI closed at 3,223.04, up 20.72 points or 0.65 per cent.

Taiwan’s TAIEX closed at 17,503.28, up 255.87 points or 1.48 per cent.

Published : August 02, 2021

By : The Nation