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https://www.nationthailand.com/business/40010825

The Securities and Exchange Commission (SEC) has announced that it will adjust the criteria for digital assets in line with their risks.

SEC secretary Ruenvadee Suwanmongkok said digital assets are more volatile than other investments due to high interest and also because some digital currencies have no fundamentals.

She added that investors should study and understand the technology and risks related to digital assets. To prevent huge losses, she advised investors to work out how much risk they are willing to take and set a budget accordingly.

Ruenvadee pointed out that most accounts are being constantly traded and the sector is also rife with fraud or unauthorised transactions.

The SEC’s aim is to educate buyers so they will understand digital assets and recommend service providers that are authorised by the Finance Ministry.

SEC is also looking for ways to monitor each type of digital asset, so it is in line with its risks. It is also planning to put digital assets under the jurisdiction of the Securities and Exchange Act to protect investors as well as create guidelines that are in line with foreign countries.

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The commission plans to introduce changes this year because digital assets are connected worldwide, can be traded 24 hours a day and are changing rapidly. It will monitor the situation closely, review rules and coordinate with related organisations in Thailand foreign countries.

Published : January 07, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010822

The baht opened at 33.56 to the US dollar on Friday, weakening from Thursday’s closing rate of 33.50.

The Thai currency is likely to move between 33.45 and 33.65 to the greenback during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that the baht might weaken as it was pressured by the strengthening dollar and the Omicron situation.

The Public Health Ministry raised the Covid-19 alert level to 4 so investors should speculate if foreign investors are worried about the Omicron situation.

Poon said that the market is in a risk-off state so foreign investors might reduce their possession of Thai assets or sell Thai stocks in the short term until the sentiment on the current market is better.

However, foreign investors have not sold a large number of short-term bonds so the foreign investors might expect the baht to weaken not much.

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The baht’s key support level would be from 33.60 to 33.75 after the baht weakened past the level of 33.50 to the dollar.

Meanwhile, the baht’s key support level would be from 33.20 to 33.30.

Published : January 07, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010820

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (January 7) would fluctuate between 1,645-1,665 points.

It said the index gained positive sentiment from the rise in other Asian indices and rising oil prices of almost US$80 per barrel.

However, it predicted that uncertainty over the US Federal Reserve signalling it would raise interest rate sooner than expected and rising domestic Covid-19 infections would pressure the index.

Thailand recorded 7,526 Covid-19 cases and 19 deaths on Friday.

It also recommended buying of the following companies’ shares as an investment strategy:

• BCH, CHG, IMH, SMD and TM, which benefit from rising Covid-19 cases.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
• BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.

The SET Index closed at 1,653.40 on Thursday, down 23.78 points or 1.42 per cent. Transactions totalled 106.47 billion baht with an index high of 1,666.22 and a low of 1,653.03.

Top five stocks with the highest trade value were KBANK, EA, PTT, KCE and CPF. 

Published : January 07, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010809

The Energy Ministry will cap the price of diesel at 30 baht per litre until the end of March, permanent secretary Kulit Sombatsiri announced on Thursday. The Oil Fuel Fund Office (OFFO) is borrowing 20 billion baht to support the move.

Meanwhile the price of LPG will be fixed at 318 baht per 15-kilogram barrel until the end of January, followed by gradual stepped increases to reduce the burden of subsidies.

The news comes after the National Energy Policy Council (NEPC) approved 2022 natural gas management guidelines proposed by the ministry. The five guidelines are as follows:

1. Prepare additional gas purchase agreements from potential natural gas fields, in the Gulf of Thailand and the Thai-Malaysia Joint Development Area.

2. Postponement of the plan to retire Mae Moh Power Plant Unit 8 until December 31, 2022

3. Buy more electricity from renewable energy from Small Power Producers (SPP) and/or Very Small Power Producers (VSPP).

4. Switch to diesel and fuel oil instead of natural gas for electricity generation. However, all measures depend on the Generation Mix, or the capacity of the supported transmission system and adequacy of seasonal fuel supplies.

5. To purchase electricity from the Laos hydropower project to replace imported LNG Spot.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010807

One month after the China-Laos-Thai railway opened, Thai authorities are worried that freight trains loaded with Chinese vegetables and flowers could also be importing unwelcome arrivals into the country.

Deputy Minister of Agriculture and Cooperatives Mananya Thaiset has ordered Nong Khai officials to tighten checks for pests and Covid-19 in the Chinese goods.

Since the railway opened on December 3, Nong Khai has inspected 159 Chinese shipments totalling 2,292 tons and valued at 41 million baht (as of January 3).

The top imported item was Chinese cabbage (419 tons), followed by broccoli (253 tons), pointed cabbage (120 tons), saussurea flowers (81 tons) and turnips (80 tons).

The Nong Khai checkpoint has so far seized two Chinese vegetable shipments for lacking a phytosanitary certificate and will destroy them within 14 days.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010806

The Thai Chamber of Commerce (TCC) warns that Thailand risks long-term economic and social impacts if the government imposes another lockdown.

TCC chairman Sanan Angubolkul issued the warning on Thursday after the Public Health Ministry raised the Covid-19 alert level from 3 to 4 amid the outbreak of omicron variant. It also recommended banning inter-provincial travel and gatherings while imposing a work-from-home policy.

Opposing any tightening of restrictions, the TCC pointed out that most of the country was fully vaccinated and the healthcare system is far from full capacity.

It urged authorities to focus on advising people to be cautious, applying strict health controls at public venues, and accelerating booster vaccination to reduce infection severity and create herd immunity.

Sanan said that imposing a new lockdown would put the country back to square one.

The private sector wants the government to focus instead on increasing control measures in risk areas, preparing the health system in each province – especially for the severely ill, and creating better public awareness of the Home Isolation and Hospitel measures. Sanan added that the private sector was ready to bring back bubble-and-seal measures for businesses.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010787

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Thursday (January 6) would move between 1,665-1,670 points due to uncertainty over the US Federal Reserve signalling it would raise interest rate sooner than expected to deal with rising inflation.

It added that the surge in Thailand daily Covid-19 infections would affect investors’ confidence. 

“Meanwhile, mass sell-offs of shares in response to technical signs at the resistance level of 1,680 points would pressure the index,” Krungsri Securities said.

It also recommended buying of the following companies’ shares as an investment strategy:

• BCH, CHG, IMH, SMD and TM, which benefit from rising Covid-19 cases.
• RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
• EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government’s support on electric vehicles.
• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.

The SET Index closed at 1,676.79 on Wednesday, up 0.39 per cent. Transactions totalled 93.12 billion baht.

Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40010784

The baht opened at 33.26 to the US dollar on Thursday, weakening from Wednesday’s closing rate of 33.20.

The Thai currency is likely to move between 33.15 and 33.35 to the greenback during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said that investors are speculating the US economic data. The market expected the service sector will grow continuously.

Moreover, the market is waiting for the statement from the US Federal Reserve’s official after the Fed sent a signal to increase the policy interest rate faster than expected.

Poon said that the baht is likely to swing sideways while the Omicron situation and the dollar strengthening might pressure the baht to weaken.

However, foreign investors did not worry about the Omicron situation and continued to invest in Thai stocks this week. Foreign investors also bought 13 billion baht of short term bonds.

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Published : January 06, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010777

Thailand is mulling cutting pig exports after PM Prayut Chan-o-cha urged action to combat the rising price of pork.

The price of fresh pork has risen to 200 baht per kilogram after the New Year break.

The pig farming industry predicts it will likely increase to 300 baht/kg soon.

On Wednesday, the government said the Agriculture and Cooperatives and Commerce ministries had discussed a short-term reduction of exports to increase domestic supply of pork and lower the price in Thailand.

For the medium to long term, the Department of Livestock Development would focus on boosting capacity of small farms, including measures to combat swine disease.

Over the past two years, several outbreaks have damaged pig production in Thailand.

However, the government forecasts pork prices will return to normal in about four months. It cited talks with agricultural and export-import companies to reduce the cost of importing animal feed and raw materials. The government said it was also helping farmers to boost corn-feed production from Thailand’s current capacity of 4 million tonnes per year to the 8 million tonnes needed to feed Thai livestock.

Published : January 05, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40010776

Two of Thailand’s economic engines are beginning to roar again after being ravaged by falling foreign demand during the Covid-19 crisis. The textile and garment industries suffered severe impacts in 2020, with 3,000 factories forced to switch to sewing face masks and PPE suits to survive.

But the Thai fabric industry turned a corner in 2021 and has now catapulted back to full capacity.

In the first 11 months of 2021, Thailand exported 64.8 billion baht of garments and 188.6 billion baht of textiles, Thai Garment Manufacturers Association president Yuttana Silpsarnvitch revealed.

Thailand benefited from increased demand for garments from the US due to its trade war with China.

Thai textile exports were boosted by demand from apparel-producing territories such as Vietnam, Cambodia, Indonesia, India, Europe and the US garment factories.

Thailand’s garment and textile factories have returned to 100 per cent capacity, but this has triggered a labour shortage after foreign workers returned to their home countries during the Covid-19 crisis. The factories are currently short of 30,000 to 50,000 workers and are dependent on overtime work.

The Garment Manufacturers Association forecasts export growth of 10 per cent in 2022 while textile exports are expected to grow 15 per cent.

Yuttana said demand for garments and textiles was being driven by the trend for environmentally friendly products. Major brands are ordering products made from recycled fibres, organic cotton and other eco-friendly materials to satisfy customer demand. These items cost about 20 per cent more than regular clothes, he said.

Published : January 05, 2022

By : THE NATION