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https://www.nationthailand.com/business/40008024

U.S. stocks traded near all-time highs as corporate earnings helped boost sentiment amid lingering concerns about inflation and growth.

The S&P 500 and Dow Jones industrial average set records as Tuesday’s round of earnings kicked off, with United Parcel Service Inc. and General Electric Co. gaining after strong results. Facebook Inc. dropped as a pledge to buy back more shares and increase spending on digital offerings was offset by a revenue miss. Big-tech peers Twitter Inc., Alphabet Inc. and Microsoft Inc. are reporting after the market close on Tuesday.

“I don’t think anybody’s too worried about the big tech names,” said Ross Mayfield, investment strategy analyst at Baird. “Their performances are all incredibly strong in absolute standards that the bar is just so high for them at this point that it can be harder to meet expectations.”

The Stoxx Europe 600 index also rose 0.8% to close at a record high. Reckitt Benckiser Group Plc gained after the maker of Strepsils throat lozenges raised its sales forecast and Novartis AG advanced on news it may spin off its generic-drug unit.

The 10-year U.S. Treasury yield fell and the dollar gained. The debate over price pressures continues: former Treasury Secretary Lawrence Summers said officials are unlikely to deal with “inflation reality” successfully until it’s fully recognized.

“We’re coming off a 40-plus-year bond-bull market,” said Megan Horneman, portfolio strategy director, Verdence Capital Advisors, on Bloomberg TV and Radio’s “Surveillance.” “And right now we’re looking at interest rates that should be a lot higher from here. So with duration, as high as it is in the fixed income market, you have to be very cautious around fixed income.”

Earnings season is helping to counter concerns that elevated inflation and tightening monetary policy will slow the recovery from the pandemic. Some 81% of S&P 500 members have reported better-than-expected results so far, though Citigroup Inc. warned that profit growth may be close to peaking.

WTI crude oil traded above $84 a barrel as investors weighed the outlook for U.S. stockpiles and prospects for talks that may eventually help to revive an Iranian nuclear accord, allowing a pickup in crude exports.

Gold fell to $1,790 an ounce and Bitcoin slid to $62,000.

Some of the main moves in markets:

Stocks

The S&P 500 rose 0.2% as of 4:02 p.m. EDT

The Nasdaq 100 rose 0.3%

The Dow Jones industrial average was little changed

The MSCI World index rose 0.2%

Currencies

The Bloomberg Dollar Spot Index was little changed

The euro was little changed at $1.1599

The British pound was little changed at $1.3763

The Japanese yen fell 0.4% to 114.13 per dollar

Bonds

The yield on 10-year Treasurys declined two basis points to 1.61%

Germany’s 10-year yield was little changed at -0.12%

Britain’s 10-year yield declined three basis points to 1.11%

Commodities

West Texas Intermediate crude rose 1% to $84.58 a barrel

Gold futures fell 0.7% to $1,794.90 an ounce

Published : October 27, 2021

By : Bloomberg

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40008015

Thailand’s exports in September came in at US$23 billion, marking a 17 per cent surge compared to the same period last year, Commerce Minister Jurin Laksanawisit said on Tuesday.

Imports in September, meanwhile, were worth $22.43 billion or up by 30 per cent against the same period last year.

The rise in exports has been put down to the recovery of key trading partners, especially a continuous recovery of the US economy and the easing of European lockdown measures, which is helping Thailand’s service sector to recover. The global manufacturing sector is also continuing to expand.

Overall, exports for the first nine months of this year were valued at about $200 billion, marking a rise of 15.5 per cent against the same period last year.

Hence, Jurin reckoned, the 4 per cent export growth target for the entire year is well within reach.

Published : October 26, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40008011

The Stock Exchange of Thailand (SET) Index closed at 1,635.97 on Tuesday, up 1.77 points or 0.11 per cent. Transactions totalled 79 billion baht with an index high of 1,639.93 and a low of 1,627.68.

The index slightly rebounded after falling by 9.22 points or 0.56 per cent on Monday. 

In the morning session, Krungsri Securities forecast the SET Index on Tuesday would fluctuate between 1,625 and 1,645 points.

It said the index gained positive sentiment from rising oil price in line with economic recovery and the Bank of Thailand’s move to relax loan-to-value (LTV) mortgage rule.

“However, uncertainty over the US Federal Reserve’s move to taper its quantitative easing on November 2-3 and mass sell-offs of shares whose third-quarter performance is expected to drop would pressure the index,” Krungsri Securities said.

The 10 stocks with the highest trade value today were KBANK, KCE, PTT, AOT, SCGP, HANA, BANPU, BBL, IVL and CPALL.

Other Asian indices were mixed:

• Japan’s Nikkei Index closed at 29,106.01, up 505.60 points or 1.77 per cent.
• China’s Shanghai SE Composite closed at 3,597.64, down 12.22 points or 0.34 per cent, while the Shenzhen SE Component closed at 14,552.82, down 43.91 points or 0.30 per cent.
• Hong Kong’s Hang Seng Index closed at 26,038.27, down 93.76 points or 0.36 per cent.
• South Korea’s KOSPI Index closed at 3,049.08, up 28.54 points or 0.94 per cent.
• Taiwan’s TAIEX Index closed at 17,034.34, up 140.10 points or 0.83 per cent.

Related stories:

• SET expected to fluctuate despite rising oil price, LTV relaxation
• Baht drops to its lowest in a month
• Thai gold price remains firm while US price surges

Published : October 26, 2021

By : THE NATION

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https://www.nationthailand.com/business/40007991

The baht hit its lowest point in a month, opening at 33.05 to the US dollar, down from Monday’s closing rate of 33.15.

The Thai currency is likely to move between 33.25 and 33.45 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon predicted that the baht would drift sideways. A factor that will cause the baht to strengthen is that the market is in a risk-on state which will also cause the dollar to weaken. Gold selling will also cause the baht to strengthen if the price goes up nearly 1,800 dollars per ounce.

However, foreign investment especially stocks might cause the baht to fluctuate. The baht will weaken if investors sell Thai stocks. In contrast, the baht will strengthen if investors buy Thai stocks. 

Foreign investors are trading stocks this week until basic economy factors are clearly better and companies financial results were better than expected which analysts will decrease the valuation of Thai stocks because they are currently expensive.

The baht’s key support level would be at 33.50, the level some importers are waiting for so they can buy dollars, he added.

Related News

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Baht expected to drift sideways due to Thai stocks, gold price

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The support level of 33.00 is important because foreign investors speculated that the baht will weaken to 34 or 35 to the US dollar. Investors might place a stop loss at 33.00. Investors might cover short when the baht reach that level which will cause the baht to strengthen in the short term.
 

Published : October 26, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007990

This report focuses on the region’s consumer markets, surveying the outlook for consumption and identifying major shifts in consumption patterns and behavior over the next decade.

While the COVID-19 pandemic continues to affect economies in Asia and around the world in fall 2021, this research aims to look beyond the economic effects of the pandemic, focusing on the factors that may influence long-term consumption growth in Asia to 2030 and beyond.

As Asia’s consumer markets are not only growing rapidly buy diversifying and segmenting, the 3 changes in perspectives are key to understanding new consumption paths in the region;

1. Surging up the income pyramid

From people moving into the consuming class to moving within the consuming class

• Asian consumers are expected to account for half of global consumption growth in the next decade, equivalent to a $10 trillion opportunity. Globally, one of every two upper-middle-income and above households is expected to be in Asia, and one of every two consumer transactions is likely to occur in the region.

Beyond income: Redrawing Asia’s consumer map by McKinsey

• An increasing number of people are projected to join the consuming class, defined as spending more than $11 a day in 2011 purchasing power parity (PPP) terms. In 2000, only 15 percent of Asia’s population was part of the consuming class; the incomes of the remaining three billion people were still insufficient to support discretionary spending. However, over the next decade, a significant reversal is likely. By 2030, three billion people, or 70 percent of Asia’s total population, may be part of the consuming class.

Beyond income: Redrawing Asia’s consumer map by McKinsey

2. Ten consumer shifts that matter

From people moving to cities to diversifying segments within cities

• Cities will continue to be the main source of the region’s consumption and consumption growth and are expected to account for more than 85 percent of it over the next decade.
• But the urban consumption is changing, a new focus is now needed to take account not only of which city is likely to offer the most promising opportunities, but of which consumers within each city.
• A combination of social, demographic, and technological change is making this diverse region even more varied. Source of consumption growth are diversifying and segmenting. A consumer might be young Japanese person living alone whose social life is largely online; a South Korean “Insta-granny”, or a senior citizen newly conversant in social media; a high-spending-and high-borrowing-Chinese Gen Z; or a Filipina who has succeed in securing a better-paid job and has more say over household financial decisions.
• Across Asia, households are getting smaller, and single-person households are becoming more common which already account for 15 to 35 percent of the total in Advanced Asia and China.

Beyond income: Redrawing Asia’s consumer map by McKinsey

3. Beyond income: Value shifts to new consumption curves

From income-driven S-curves to market-specific consumption curves

• As the relationship between income and consumption breaks down in some instances, new consumption curves are emerging in specific product categories. Income-driven S-curves may flatten or shift as business innovation and new technologies enable more people, even on lower incomes, to afford goods and services.
• Consumer shifts could move to 15 to 65 percent of value pools to new consumption curves, depending on the sector.
• An example is “access curves” emerging in categories such as mobility, gaming, and banking, where business model innovation and digital platforms unlock latent demand by enabling lower-income consumers to obtain services that they could not previously access or were priced out of.

Beyond income: Redrawing Asia’s consumer map by McKinsey

• Larges demographic shifts are creating new opportunities to innovate products for example;
  • New growth angles are changing the Asian financial sector in areas like payments, wealth management, and financing.
  • Demographic and societal shifts are changing the nature of housing demand and an emerging shift to rental and other housing models instead of buying.

It is time for companies to redraw their consumer growth map of Asia

Looking at new angles and consumptions growth

• Find new growth angles: Given that urbanization and rising incomes may no longer be sufficient to understand consumption growth, companies may look carefully at which of the ten growth angles are relevant to their business.
• Understand the new consumption that may play out in each sector: Consider new consumption categories that may emerge and how new demand may be unlocked by innovation in business models or product development.
• Radically reimagine the future of consumption: Consider the possible futures and include new approaches in their forecasting process. To do so, they could consider revamping their usual long0term planning processes and blend elements of design, broad based signal scanning, and analytics.

Responding to rapid change and rising diversity, companies are adopting a more agile operating model

• Create an agile resource-reallocation process: Yearly planning cycles, sticky budgets, and status quo business reviews may need to be replaced by frequent resources reallocation discussion in which genuine trade-offs are considered
• Increase speed to market of innovation: Consider opening up innovation cycles, for instance by seeking out external partnerships, localizing R&D, and employing more rapid test-and-learn approaches to product development.
• Empower local decision making: local autonomy and talent are crucial to making the right decision for the right markets at the right time.
• Ensure the board is fit for the digital age: To address the digital deficit on boards, members need better knowledge about the technology environment. They also need faster, more effective ways to engage the organization and operate as a governing body and, critically, new means of attracting digital talent.

Published : October 26, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007989

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

AGold Traders Association report at 9.21am said the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while the buying and selling price of gold ornaments is THB27,636.68 and THB28,750, respectively.

The spot gold price on Tuesday morning hovered around US$1,804 (THB59,789) per ounce after Comex gold at close on Monday surged by $10.5, hit the highest level in almost 6 weeks, to $1,806.8 per ounce due to support in buying gold as a safe-haven asset amid concerns about inflation and the fall in US government bond yields.

Related news:

• SET expected to fluctuate despite rising oil price, LTV relaxation
• WHA Corp expects to ride growth wave by year-end
• U.S. stocks gain; oil fluctuates near 7-year high

The Hong Kong gold price, meanwhile, rose by HK$50 to $16,750 (THB71,430) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : October 26, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007986

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday would fluctuate between 1,625 and 1,645 points.

It said the index gained positive sentiment from rising oil price in line with economic recovery and the Bank of Thailand’s move to relax loan-to-value (LTV) mortgage rule.

“However, uncertainty over the US Federal Reserve’s move to taper its quantitative easing on November 2-3 and mass sell-offs of shares whose third-quarter performance is expected to drop would pressure the index,” Krungsri Securities said.

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

▪︎ PTT, PTTEP, TOP, PTTGC, SPRC and BCP, which benefit from rising oil price and gross refining margin.

▪︎ GULF, CHG, BCH, BDMS, KCE, PSL, TTA, BANPU and LANNA, whose third-quarter profit is expected to grow.

▪︎ HMPRO, CPALL, TNP and KK, which benefit from the government’s economic stimulus measures. 

Published : October 26, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007965

U.S. stocks rose as traders geared for a string of earnings reports from technology heavyweights including Facebook Inc., while keeping in mind inflation concerns and rising covid-19 risks.

Consumer discretionary, energy and materials sectors led the S&P 500 higher after the benchmark index whipsawed traders at the start of the session. PayPal Holdings Inc. rose after the company said it isn’t pursuing an acquisition of Pinterest Inc., ending days of speculation over a potential $45 billion deal. Tesla Inc. advanced after receiving an order for 100,000 cars from Hertz Global Holdings Inc. Still to come: the five largest U.S. technology companies are set to report earnings, starting with Facebook on Monday.

“This year, broad market indices have benefited from robust earnings growth-the rising tide lifts all boats adage has been in full effect,” said Principal Global Investors Chief Strategist Seema Shah. “But as the economy slows and market conditions become more challenging, selectivity will be key. Staying overweight equities, with a focus on factors such as quality, will be increasingly important for investors aiming to balance portfolios in the market environment ahead.”

Oil pared gains after hitting $85 a barrel for the first time since 2014 with traders focused on upcoming talks between Iran and the European Union that may lead to a revival of a 2015 nuclear deal.

Yields on shorter-maturity Treasuries fell and the dollar edged higher after Federal Reserve Chair Jerome Powell flagged that inflation could stay higher for longer, fueling investor concern that sticky price increases may force policymakers to raise borrowing costs. Gold advanced above $1,800 an ounce.

Global equities have remained resilient despite risks from price pressures stoked by supply-chain bottlenecks and higher energy costs. Treasury Secretary Janet Yellen is among those counseling the inflation situation reflects temporary pain that will ease in the second half of 2022. Investors are wary that tighter monetary policy to keep inflation in check will stir volatility.

Traders are also monitoring an outbreak of the delta virus strain in China that is expected to worsen. The nation sought to allay concerns about the economy’s slowdown with a lengthy state media commentary outlining how the government is managing risks and remains confident about achieving its targets for the year.

The Stoxx Europe 600 index edged higher. The basic-resources sector advanced as crude oil and metals rose earlier, while banks increased on HSBC Holdings Plc’s bright outlook.

Some of the main moves in markets:

Stocks The S&P 500 rose 0.5% as of 4 p.m. EDT

The Nasdaq 100 rose 1%

The Dow Jones industrial average rose 0.2%

The MSCI World index rose 0.3%

Currencies

The Bloomberg Dollar Spot Index rose 0.1%

The euro fell 0.3% to $1.1611

The British pound was little changed at $1.3765

The Japanese yen fell 0.2% to 113.72 per dollar

Bonds

The yield on 10-year Treasurys was little changed at 1.63%

Germany’s 10-year yield declined one basis point to -0.11%

Britain’s 10-year yield was little changed at 1.14%

Commodities

West Texas Intermediate crude fell 0.4% to $83.45 a barrel

Gold futures rose 0.7% to $1,808.10 an ounce

Published : October 26, 2021

By : Bloomberg

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007954

The Stock Exchange of Thailand (SET) Index closed at 1,634.20 on Monday, down 9.22 points or 0.56 per cent. Transactions totalled 65 billion baht with an index high of 1,645.91 and a low of 1,631.29.

The index fell after rising by 5.87 points or 0.36 per cent on Thursday. The index on Friday was closed for substitution for Chulalongkorn Memorial Day. 

In the morning session, Krungsri Securities forecast the SET Index on Monday would fluctuate between 1,635 and 1,655 points.

It said the index gained positive sentiment from rising oil price of above US$83 per barrel, the government’s move to lift the curfew in 17 provinces and the Bank of Thailand’s move to relax loan-to-value (LTV) mortgage rule.

“However, the index would be under pressure due to uncertainty the US Federal Reserve signalling it would taper its quantitative easing in November and mass sell-offs of shares after the index hit the resistance line,” Krungsri Securities said.

The 10 stocks with the highest trade value today were KBANK, BBL, BANPU, SPALI, AOT, CPALL, IRPC, SCB, BDMS and LH.

Other Asian indices were up with one exception:

Japan’s Nikkei Index closed at 28,600.41, down 204.44 points or 0.71 per cent.

China’s Shanghai SE Composite closed at 3,609.86, up 27.26 points or 0.76 per cent, while the Shenzhen SE Component closed at 14,596.72, up 103.90 points or 0.72 per cent.

Hong Kong’s Hang Seng Index closed at 26,132.03, up 5.10 points or 0.020 per cent.

South Korea’s KOSPI Index closed at 3,020.54, up 14.38 points or 0.48 per cent.

Taiwan’s TAIEX Index closed at 16,894.24, up 5.50 points or 0.033 per cent.

Related stories:

• SET expected to fluctuate amid mixed sentiments
• Baht strengthens a tad
• Gold price freezes amid rising US inflation

Published : October 25, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40007938

The baht has strengthened to 33.20 per US dollar from an opening of 33.25, Kasikorn Research Centre reported on Monday morning.

It said the dollar had seen no new supporting factors while investors in the currency are monitoring the US inflation rate.

Moreover, the increased price of commodities has stimulated the selling rate of the dollar, the centre added.

The centre also predicted the baht to move between 33.10 and 33.40 today, while relevant factors included investing money of foreign investors, the Covid-19 situation in Thailand, and the direction of oil price worldwide.

Related News

Electric vehicle registration rises over 42 per cent year on year

Gold price freezes amid rising US inflation

SET expected to fluctuate amid mixed sentiments

Published : October 25, 2021

By : THE NATION