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https://www.nationthailand.com/business/40000843

Asean market connectivity enhanced with addition of Philippines

The Securities Commission Malaysia (SC), the Monetary Authority of Singapore (MAS) and the Securities and Exchange Commission of Thailand (SEC Thailand) have signed a supplemental memorandum of understanding (MoU) with the Securities and Exchange Commission Philippines (SEC Philippines) to admit it as a new signatory to the Asean Collective Investment Schemes (CIS) Framework.

The entry of the Philippines into the framework is the latest step towards enhancing capital market connectivity in the region.

The Asean CIS Framework is an initiative under the regional capital markets integration plan endorsed by Asean finance ministers in 2009 to facilitate cross-border product access and fund distribution for investors and issuers respectively.

With SEC Philippines’ participation in the Asean CIS Framework, qualified investment companies in the Philippines and their fund managers will now be able to offer eligible funds to retail investors in the other three member jurisdictions, and vice versa.

Syed Zaid Albar, chairman of the SC congratulated SEC Philippines, saying: “Under the Asean CIS Framework, retail investors are able to tap into a wider choice of funds from beyond their borders, and fund managers can offer their products cross-border under an efficient approval system.

“The addition of the Philippines to the three existing jurisdictions under the Framework broadens the range of regional funds for portfolio diversification, and we hope for more participation from our Asean counterparts in the future.”

SEC Philippines’ chairperson Emilio Aquino, said: “We deeply appreciate the tireless efforts and dedication of SC, MAS and SEC Thailand in facilitating the admission of the Philippines into the Asean CIS Framework, especially members of Asean CIS Working Group B who played important roles in achieving this significant milestone, thereby allowing us to participate and be able to showcase our collective investment schemes.

“The expansion of the Asean CIS initiative to the Philippines further strengthens connectivity in the Asean region. As the fourth signatory to the Framework, we will also endeavour to work together with other signatories in encouraging other Asean countries in joining the Framework and in promoting cross-border offerings of Asean Funds.”

Lim Tuang Lee, assistant managing director (Capital Markets), MAS, said: “SEC Philippines’ participation in the Asean CIS Framework marks a progressive step towards greater integration of Asean capital markets.

“The enhanced reach of the platform will open up new opportunities and markets to both fund managers and investors in participating member states. We welcome SEC Philippines’ participation, and look forward to more Asean members joining the framework.”

Ruenvadee Suwanmongkol, SEC Thailand’s secretary-general, said: “We are delighted to welcome the Philippines as a new signatory to the Asean CIS Framework, which fosters more inter-connected, inclusive, and resilient Asean capital markets.

“This new partnership will create more business opportunities and strengthen economic cooperation among Asean member states while enriching the pool of funds available for investment in Asean. We look forward to the participation of more Asean member states in this framework over the coming years.”

Published : May 13, 2021

By : The Nation

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https://www.nationthailand.com/business/40000833

SET down 1% over higher US inflation worries

The Stock Exchange of Thailand (SET) Index fell by 20.79 points or 1.32 per cent to 1,551.06 at 10.01am on Thursday. The volume of transactions was THB8.24 billion with an index high of 1,554.15 and a low of 1,549.06.

Krungsri Securities predicted the index would fall between 1,555 and 1,560 points due to rising US inflation after the country’s Consumer Price Index in April was higher than expected, which has triggered worries that the Federal Reserve would hike the interest rate and reduce its quantitative easing programme.

The index would be under pressure due to 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.

It recommended investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ Hana, KCE, SMT, TU and CPF, which benefit from the weakening baht.

▪︎ EPG, CPF, BCH, CHG, TWPC and Wice, whose first-quarter turnover is expected to improve.

The SET Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 points and a low of 1,557.94.

Published : May 13, 2021

By : The Nation

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https://www.nationthailand.com/business/40000830

Gold skids over higher US inflation, worries Fed may hike rates

The price of gold dropped by THB50 per baht weight in morning trade on Thursday due to uncertainty over higher US inflation, which could trigger the Federal Reserve to hike the interest rate. Meanwhile, the strengthening dollar and rising US bond yield also pressured the gold price.

AGold Traders Association report at 9.27am showed the buying price of a bar at THB26,900 per baht weight and selling price at THB27,000, while gold ornaments were priced at THB26,408.72 and THB27,500, respectively.

At close on Wednesday, the buying price of a bar was THB26,950 per baht weight and selling price THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.

The spot gold price on Thursday was US$1,822 (THB57,098) per ounce compared to the price on Wednesday, when it dropped by $13.10 to $1,822.80 per ounce.

The Hong Kong gold price on Thursday dropped by HK$110 to $16,850 (THB67,984) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 13, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000804

SET down as investors worry over possible US interest rate hike

The Stock Exchange of Thailand (SET) Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 and a low of 1,557.94.

In the morning session, Krungsri Securities forecast the index on Wednesday would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as countries move to inject stimulus cash, which has triggered worries that the US Federal Reserve will hike the interest rate.

Meanwhile, the SET would be under pressure from the mounting number of Covid-19 cases in Thailand, said Krungsri.

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

It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.

The 10 stocks with the highest trade value today were DELTA, TIDLOR, KBANK, SAWAD, KCE, CBG, IRPC, PTT, SCGP and SCB.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 28,147.51, down 461.08 points or 1.61 per cent.

China’s Shanghai SE Composite Index closed at 3,462.75, up 20.91 points or 0.61 per cent, while the Shenzhen SE Component Index closed at 14,064.86, up 98.08 points or 0.70 per cent.

Hong Kong’s Hang Seng Index closed at 28,231.04, up 217.23 points or 0.78 per cent.

South Korea’s KOSPI closed at 3,161.66, down 47.77 points or 1.49 per cent.

Taiwan’s TAIEX Index closed at 15,902.37, down 680.76 points or 4.11 per cent.

Published : May 12, 2021

By : The Nation

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https://www.nationthailand.com/business/40000792

SET Index expected to fluctuate today amid high Covid-19 numbers, inflation

The Stock Exchange of Thailand (SET) Index fell by 12.55 points or 0.79 per cent to 1,566.38 at 10.21am on Wednesday. The volume of transactions was THB20.74 billion with an index high of 1,577.16 points and a low of 1,565.95.

Krungsri Securities predicted the index would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as many countries moved to inject cash in a bid to stimulate the economy, triggering worries about whether the US Federal Reserve would raise the interest rate or not.

It said the index would be under pressure due to the higher number of Covid-19 cases in Thailand.

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

It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.

It recommended investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, Com7, Synex, TWPC and Wice, whose first-quarter turnover is expected to improve.

The SET Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 points and a low of 1,566.91.

Published : May 12, 2021

By : The Nation

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https://www.nationthailand.com/business/40000789

Up to 80% of SMEs hit by lack of liquidity, 100,000 may close for good if Covid crisis persists

About 70 to 80 per cent of small to medium-sized enterprises (SMEs) are suffering from a lack of liquidity since the third Covid-19 wave hit Thailand in late March and 100,000 could close for good, warned Saengchai Theerakulwanich, president of the Federation of Thai SMEs, calling for urgent government help.

“The federation estimates that about 2.7 million small businesses and 400,000 medium enterprises are having trouble keeping their businesses afloat,” he said.

“If the Covid-19 situation persists for another 2-3 months with no signs of recovery, more than 100,000 SMEs might have to shut down for good.”

Saengchai said the government needs to provide soft loans of at least THB250 billion to help SME operators.

“The loans should target primarily small and medium businesses with maximised accessibility to make sure those in need can get financial aid without obstacles,” he said.

“If the loans have too many restrictions, only strong entrepreneurs who do not really need them will be able to get them,” he warned.

“Besides providing new loans to SMEs, financial institutes must offer debt moratoriums and grace periods on interest for existing loans previously taken by entrepreneurs,” Saengchai said.

“This is to make sure these operators can stay afloat long enough for the economy to recover and they can then make a profit to pay off their debts,” he added.

Published : May 12, 2021

By : THE NATION

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https://www.nationthailand.com/business/40000788

Gold static in morning trade with eye on US inflation

The price of gold in Thailand was unchanged from Tuesday’s close in morning trade on Wednesday due to a rise in the US bond yield. The market is keeping an eye on US inflation in the hope of predicting the Federal Reserve’s move on monetary policy.

AGold Traders Association report at 9.27am 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.

The price had risen by THB50 per baht weight compared to the opening trade on Tuesday.

The spot gold price on Wednesday was US$1,836 (THB57,321) per ounce compared to the price on Tuesday, when it dropped by $1.50 to $1,836.10 per ounce.

The Hong Kong gold price on Wednesday dropped by HK$10 to $16,980 (THB68,261) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 12, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000787

Baht could weaken today

The baht opened at 31.17 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 31.10.

The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said.

He said the baht tended to move in a predictable range, as the direction of the dollar was not clear at this time. The baht would weaken during the day in case foreign investors continued selling Thai stocks, he added.

However, the baht will not weaken sharply, as exporters aimed to sell the dollar when the baht moves near 31.20 to 31.30, Poon said.

He added that the important resistance level of the Thai currency was at 31.00.

Published : May 12, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000763

SET loses ground as virus cases sap Thai index

The Stock Exchange of Thailand (SET) Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 and a low of 1,566.91.

In the morning session, Krungsri Securities forecast that the SET Index would fluctuate between 1,560 and 1,575 points amid lack of positive sentiment.

It also predicted Thai stocks would be under pressure from worries over the outflow of foreign funds and mounting Covid-19 cases in Thailand.

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

The 10 stocks with the highest trade value today were TIDLOR, DELTA, KBANK, TU, BANPU, PTT, CPF, BDMS, MTC and SCC.

Other Asian indices were on the fall, except those in China:

Japan’s Nikkei Index closed at 28,608.59, down 909.75 points or 3.08 per cent.

China’s Shanghai SE Composite Index closed at 3,441.85, up 13.85 points or 0.40 per cent, while the Shenzhen SE Component Index closed at 13,966.78, up 48.82 points or 0.35 per cent.

Hong Kong’s Hang Seng Index closed at 28,013.81, down 581.85 points or 2.03 per cent.

South Korea’s KOSPI closed at 3,209.43, down 39.87 points or 1.23 per cent.

Taiwan’s TAIEX Index closed at 16,583.13, down 652.48 points or 3.79 per cent.

Published : May 11, 2021

By : The Nation

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https://www.nationthailand.com/business/40000756

Online platform boosts sale of durian to China

Export of durian to China has spiked thanks to an online booking platform set up by the Agriculture and Cooperatives Ministry.

Alongkorn Ponlaboot, an adviser to the ministry, said that though it took nine hours to sell the first lot of 20 tonnes of durian, the second lot of 25 tonnes was snapped up in 45 minutes via the platform.

He said the project was a cooperation between the Agriculture and Cooperatives and Commerce Ministries as well as agricultural cooperatives.

“Farmers and cooperatives will now be able to sell durian at a higher price thanks to the platform, which allows farmers to access buyers directly,” he said.

Online platform boosts sale of durian to China

Alongkorn added that Agriculture and Cooperatives Minister Chalermchai Sri-on has instructed officials to expand sales to cover other agricultural products.

Online platform boosts sale of durian to China

“The Chinese public and businesses are excited as they now have the opportunity to directly buy durian imported from Chanthaburi,” he added.

Published : May 11, 2021

By : The Nation