#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000963

Baht weakens, could face downward pressure this week

The baht opened at 31.35 to the US dollar on Monday, weakening from Friday’s closing rate of 31.39.

The Thai currency is likely to move between 31.30 and 31.45 during the day and between 31.20 and 31.50 this week, Krungthai Bank market strategist Poon Panichpibool said.

He said the dollar would tend to be stable or weaken, depending on the market situation and recovery of the European economy.

Poon said the financial fluctuation in Asia caused by Covid-19 would prompt foreign investors to sell their assets in Asian markets. He suggested that Thai investors monitor trading of foreign currencies as it could weaken the baht.

The market strategist said the baht will not weaken sharply, and the currency’s resistance was between 31.40 and 31.50 per US dollar.

He added that the baht could strengthen from gold trade this time, when the metal’s price tends to increase.

Published : May 17, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000961

Gold price jumps by THB200 as dollar weakens

The price of gold in Thailand rose by THB200 per baht weight in morning trade on Monday due to the weakening dollar.

The Gold Traders Association report at 9.27am showed buying price of a gold bar at THB27,400 per baht weight and selling price at THB27,500, while gold ornaments were priced at THB26,909 and THB28,000, respectively.

At close on Saturday, the buying price of a gold bar was THB27,200 per baht weight and selling price THB27,300, while gold ornaments were priced at THB26,711.92 and THB27,800, respectively.

The price had risen bt THB400 per baht weight, the highest in over four months, last week.

Spot gold price on Monday was US$1,851 (THB58,178) per ounce compared to Friday when it rose by $14.1 to $1,838.1 per ounce.

The Hong Kong gold price on Monday rose by HK$90 to $17,090 (THB69,157) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 17, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000939

Automakers face uphill climb in Covid aftermath

Foreign automakers in Thailand have been hit severely by the Covid-19 crisis, which has led to changes in automotive technologies and consumer behaviour, semiweekly business publication Thansettakij said on Saturday.

Among the major upheavals in Thailand’s auto industry last year was American automaker General Motors (GM) pulling out of the country and giants Nissan, Mitsubishi and Honda undertaking restructuring of their organisations at the beginning of this year.

GM also sold its factory in Rayong to Great Wall Motors, a Chinese automaker, last year.

Foreign automakers in Thailand sold 790,000 cars last year, down 21 per cent compared to 2019.

Toyota Motor Thailand’s revenue in 2020 was THB368.25 billion, down 13.16 per cent year on year, while the company’s profit after tax slumped 41.82 per cent year on year to THB12.48 billion.

Honda Automobile (Thailand)’s revenue was THB206.70 billion, down 13.57 per cent year on year, while the company’s profit was THB11.64 billion, down 8.89 per cent year on year.

Isuzu Motors (Thailand)’s revenue was THB169.45 billion, down 8.19 per cent year on year, while the company’s profit fell 33.81 per cent year on year to THB10.37 billion.

Nissan Motor (Thailand)’s revenue was THB108.42 billion, down 21.21 per cent year on year, and the company reported a loss of THB7.21 billion compared to THB1 billion loss in the previous year.

The Federation of Thai Industries expected automakers to sell 1.5 million cars this year, of which 750,000 cars would be sold in the country and another 750,000 cars would be exported.

Even though auto sales this year are expected to be better than last year due to more people getting the Covid-19 vaccine, the industry would continue to be under pressure due to the third wave of the pandemic and shortage of materials, Thansettakij said.

Published : May 16, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000892

Thai stocks rise slightly to snap three-day slide

The Stock Exchange of Thailand (SET) Index closed at 1,549.48 on Friday, up 1.35 points or 0.09 per cent. The volume of total transactions was THB97.35 billion with an index high of 1,558.86 and a low of 1,532.29. The SET rebounded slightly after three consecutive days of losses this week.

In the morning session, Krungsri Securities forecast Friday’s index would fluctuate between 1,535 and 1,560 points amid hopes of economic recovery after the number of US jobless claims fell to the lowest in a year.

“Uncertainty over rising inflation, the falling crude price and outflow of foreign funds would pressure the index,” Krungsri Securities said.

The 10 stocks with the highest trade value today were STGT, PTT, KBANK, SAWAD, CPALL, CPF, TIDLOR, RCL, STA and TTA.

Other Asian indices were on the rise:

Japan’s Nikkei Index closed at 28,084.47, up 636.46 points or 2.32 per cent.

China’s Shanghai SE Composite Index closed at 3,490.38, up 60.84 points or 1.77 per cent, while the Shenzhen SE Component Index closed at 14,208.78, up 291.13 points or 2.09 per cent.

Hong Kong’s Hang Seng Index closed at 28,027.57, up 308.90 points or 1.11 per cent.

South Korea’s KOSPI closed at 3,153.32, up 31.21 points or 1.00 per cent.

Taiwan’s TAIEX Index closed at 15,827.09, up 156.99 points or 1.00 per cent.

Published : May 14, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000885

Global chip shortage expected to last until 2022

The worldwide microchip shortage that is driving up the price of computers and other devices will last through 2021, according to Gartner, Inc.

The research firm expects semiconductors (microchips) ­to recover to normal levels by the second quarter of 2022.

The Federation of Thai Industries (FTI) has admitted that Thai manufacturers – especially in the automotive industry – face production impacts from the shortage.

“The semiconductor shortage will severely disrupt the supply chain and will constrain the production of many electronic equipment types in 2021. Foundries are increasing wafer prices, and in turn, chip companies are increasing device prices,” said Kanishka Chauhan, principal research analyst at Gartner.

Meanwhile, undersupply of most categories of devices is expected to persist until the second quarter of 2022.

Gartner analysts recommend that manufacturers dependent on microchips take four actions to cut risk and revenue loss during the global chip shortage:

● Extend supply chain visibility beyond the supplier to the silicon level, which will be critical in projecting supply constraints and projecting when the crisis will improve.

● Partner with other manufacturers to approach chip foundries as a combined entity to gain some leverage, or pre-invest in the chip supply chain and/or foundries to guarantee long-term supply.

● Track leading indicators such as capital investments, inventory index and semiconductor industry revenue growth projections as an early indicator of inventory situations.

● Diversify supplier base.

Published : May 14, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000879

More applications for pico finance operators as govt cracks down on loan sharks

The number of people applying for pico finance and pico-plus finance operation licences has been constantly rising, Pornchai Triraveja, spokesman for the Fiscal Policy Office (FPO) said.

Apico finance operator is one with a capital of at least 5 million baht who is allowed to lend no more than 50,000 baht per borrower. A pico-plus operator has a capital of 10 million baht and can lend up to 100,000 baht per person.

In March, 877 companies from 75 provinces applied for a licence, with the top three provinces being Nakhon Ratchasima (77 applicants), Bangkok (63) and Khon Kaen (51).

Meanwhile, the number of firms applying for a pico-plus licence in March stood at 147 from 46 provinces. Nakhon Ratchasima again led the list with 22 applicants, followed by Udon Thani with nine and Ubon Ratchathani with eight.

“Since the Finance Ministry began accepting applications for both licences since December 2016, pico finance operators have given out 484,638 loans totalling 11.37 billion baht or an average of 23,461 baht per account,” Pornchai added.

As of February, 186,913 loans worth 4.12 billion baht were still outstanding. Of these, 27,981 accounts worth 641.62 million baht were short-term loans for up to three months.

Meanwhile, 31,500 worth 736.04 million baht were non-performing loans.

“From December 2016 to March this year, 9,118 loan sharks have been arrested in police operations, with 214 nabbed in March alone,” he added.

Published : May 14, 2021

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000876

Flight of foreign funds, inflation could drag SET down

The Stock Exchange of Thailand (SET) Index rose by 7.30 points, or 0.47 per cent, to 1,555.43 at 10.02am on Friday. The volume of total transactions was THB7.34 billion with an index high of 1,558.86 and a low of 1,554.04.

Krungsri Securities predicted that the SET Index would fluctuate between 1,535 and 1,560 points despite hopes of economic recovery after the number of US jobless claims fell to the lowest in a year.

“Uncertainty over rising inflation, falling crude price and outflow of foreign funds would pressure the index,” Krungsri Securities predicted.

It recommended that investors buy:

▪︎ EA, GPSC, BPP and ROJNA, which are related to electric vehicles.

▪︎ HANA, KCE, TU, CPF and EPG, which benefit from the weakening baht.

▪︎ ADVANC, INTUCH and WHAUP, which pay high dividends.

The SET Index closed at 1,548.13 on Thursday, down 23.72 points or 1.51 per cent. The volume of total transactions was THB143.71 billion with an index high of 1,561.80 and a low of 1,501.02.

Published : May 14, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000870

Gold gets a boost from buy-ups as US bond yield slides

The price of gold rose by THB100 per baht weight in morning trade on Friday, thanks to mass buy-ups of safe-haven assets amid the decline in US bond yield and uncertainty over rising US inflation.

The Gold Traders Association report at 9.26am showed the buying price of a gold bar at THB26,950 per baht weight and selling price at THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.

At close on Thursday, the buying price of a gold bar was THB26,850 per baht weight and selling price THB26,950, while gold ornaments were priced at THB26,363.24 and THB27,450, respectively.

Spot gold price on Friday was US$1,824 (THB57,165) per ounce compared to Thursday when it rose by $1.2 to $1,824 per ounce.

Hong Kong gold price on Friday rose by HK$100 to $16,920 (THB68,268) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 14, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000845

Meeting on THAI’s rehab plan delayed by a week

The online meeting between the Legal Execution Department and creditors to vote on Thai Airways (THAI)’s rehabilitation plan was postponed by a week to May 19.

The move came after 20 creditors, who are owed THB32.61 billion or 24.40 per cent of THAI’s total THB133.70 billion debt, asked for the meeting to be postponed as they did not have time to study the most recent version of the rehabilitation plan.

The revised version of the plan was submitted on Tuesday afternoon and the meeting was scheduled to be held the following day.

The creditors who asked for the meeting to be postponed are:

• Federation of Savings and Credit Cooperatives of Thailand

• Thammasat University Savings and Credit Cooperative

• Chulalongkorn University Savings Cooperative

• Kasetsart University Savings and Credit Cooperative

• Electricity Generating Authority of Thailand Saving and Credit Cooperative

• Provincial Electricity Authority Employees Saving and Credit Cooperative

• Thai Airways International Employees Saving Cooperative

• Hatyai Hospital Saving and Credit Cooperative

• The Rubber Authority of Thailand Saving and Credit Cooperative

• PTT Saving and Credit Cooperative

• Department of Fisheries Saving and Credit Cooperative

• Comptroller General’s Department Saving and Credit Cooperative

• Prince of Songkhla University Saving and Credit Cooperative

• Credit Union League of Thailand

• Government Pharmaceutical Organisation Saving and Credit Cooperative

• Chevron (Thailand)

• GE Energy Services

• Ocean Life Insurance

• Thanachart Bank

• General Electric

Published : May 14, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000850

SET down more than 1.5% as fear of US rate rise hits Asian markets

The Stock Exchange of Thailand (SET) Index closed at 1,548.13 on Thursday, down 23.72 points or 1.51 per cent. The volume of total transactions was THB143.71 billion with an index high of 1,561.80 and a low of 1,501.02.

In the morning session, Krungsri Securities forecast the index on Thursday would fall to between 1,555 and 1,560 points after the US recorded a higher-than-expected inflation rise in April’s Consumer Price Index, triggering worries of a rate hike and tapering of quantitative easing by the Federal Reserve.

The index would be under pressure from a weakening baht, foreign fund outflows and the SET’s move to impose cash-balance regulations on Delta Electronics shares, Krungsri Securities added.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” it predicted.

The 10 stocks with the highest trade value today were CPALL, TIDLOR, STA, KBANK, STGT, PTT, SAWAD, PTTGC, IVL and SCGP.

Other Asian indices were on the fall:

Japan’s Nikkei Index closed at 27,448.01, down 699.50 points or 2.49 per cent.

China’s Shanghai SE Composite Index closed at 3,429.54, down 33.22 points or 0.96 per cent, while the Shenzhen SE Component Index closed at 13,917.65, down 147.21 points or 1.05 per cent.

Hong Kong’s Hang Seng Index closed at 27,718.67, down 512.37 points or 1.81 per cent.

South Korea’s KOSPI closed at 3,122.11, down 39.55 points or 1.25 per cent.

Taiwan’s TAIEX Index closed at 15,670.10, down 232.27 points or 1.46 per cent.

Published : May 13, 2021

By : The Nation