#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thai stocks rise 1.5% to complete end-of-week surge

EconJan 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,536.44 on Friday, up 22.66 points or 1.50 per cent. The volume of total transactions was Bt125.08 billion with an index high of 1,538.61 and a low of 1,521.17.

In the morning session, an analyst at Krungsri Securities forecast the day’s index would climb to between 1,525 and 1,530 points on hopes of more US stimulus after the Democrats took control of Congress, as well as the rising oil price.

“However, investors should beware of market volatility due to the weakening baht and a decline in foreign fund flows,” he said.

The 10 stocks with the highest trade value today were SCGP, EA, BANPU, GPSC, DELTA, KCE, PTT, KEX, GULF and INTUCH.

As of 4.30pm, the price of oil rose by US$0.28 or 0.55 per cent to $51.11 per barrel, while gold dropped by $25.60 or 1.34 per cent, to $1,888 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 28,139.03, up 648.90 points or 2.36 per cent.

China’s Shang Hai SE Composite Index closed at 3,570.11, down 6.10 points or 0.17 per cent, while Shenzhen SE Component Index closed at 15,319.29, down 37.11 points or 0.24 per cent.

Hong Kong’s Hang Seng Index closed at 27,878.22, up 329.70 points or 1.20 per cent.

South Korea’s KOSPI Index closed at 3,152.18, up 120.50 points or 3.97 per cent.

Taiwan’s TAIEX Index closed at 15,463.95, up 249.95 points or 1.64 per cent.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises on hopes of more US stimulus measures, rising oil price

EconJan 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 16.74 points, or 1.11 per cent, to 1,530.52 in the morning session on Friday.

An analyst at Krungsri Securities predicted the day’s index would climb to between 1,525 and 1,530 points on hopes of added US economic stimulus measures after Democrats took control of Congress, as well as the rising oil price.

“However, investors should beware of market volatility due to the weakening baht and a decline in foreign fund flows,” he said.

He recommended investors buy:

> KBank, SCB, BBL and BLA, which benefit from rising US bond yields.

> PTTEP, PTTGC, Top and IVL, which benefit from the rising oil price, while their fourth-quarter performance is expected to improve.

> PSL, TTA and RCL, which would benefit from the rise in freight rates.

The SET Index closed at 1,513.78 on Thursday, up 21.42 points, or 1.44 per cent. Total transactions amounted to Bt121.32 billion, with an index high of 1,519.91 points and a low of 1,502.81, thanks to mass buy-ups of energy and bank shares.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price unchanged after big drop yesterday

EconJan 08. 2021

By The Nation

The price of gold was unchanged in morning trade on Friday after shrinking by Bt400 per baht weight at close on Thursday, the Gold Traders Association reported.

As of 9.24am, the buying price of a gold bar was Bt27,150 per baht weight and selling price Bt27,250 while gold ornaments cost Bt26,666.44 and Bt27,750, respectively.

The spot gold price moved to US$1,910 (Bt57,471) per ounce in the morning, while the Comex (Commodity Exchange) gold price to be delivered in February rose by $5 to $1,913.60 on Thursday, thanks to Congress affirming Joe Biden’s presidential win, which triggered hopes that a Democrat-led administration would come out with more economic stimulus measures.

The Hong Kong gold price meanwhile dropped by HK$50 to $17,690 (Bt68,650) per tael, the Chinese Gold and Silver Exchange Society reported.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Industrial parks popping up despite outbreak: IEAT

EconJan 08. 2021

Somchint Pilouk, governor of the Industrial Estate Authority of Thailand (IEAT)

By The Nation

Unfazed by the Covid-19 outbreak and new wave of infections, industrial estate operators have continued making new investments and expanding, said Somchint Pilouk, governor of the Industrial Estate Authority of Thailand (IEAT).

Recently, Rojana Industrial Park signed a pact with IEAT to build a 1,988-rai industrial park in Chonburi’s Nong Yai district.

This will be the newest industrial park to be opened in the Eastern Economic Corridor zone and will serve the so-called S-curve and new S-curve industries. The park is expected to get off the ground in 2024.

Somchint said the number of new industrial parks this year will not be lower than the average of two to three parks per year. She added that some existing operators like Amata City Rayong are also planning to expand their area.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Stocks roar on stimulus bets as Nasdaq jumps 2.5%

EconJan 08. 2021

By Syndication Washington Post, Bloomberg · Rita Nazareth, Lu Wang

Stocks rallied a day after violence rocked the U.S. Capitol, with investors firmly focused on the prospect for more stimulus and the likelihood that calm will prevail as Joe Biden takes the presidency.

All major U.S. equity benchmarks notched all-time highs, with about 70% of the companies in the S&P 500 in the green and the Nasdaq 100 jumping 2.5%. The Dow Jones Transportation Average — a proxy for economic activity — also hit a record, while the Russell 2000 Index of small caps extended a three-day advance to almost 8%. Tesla Inc. surged after RBC Capital Markets upgraded the stock, noting it was “completely wrong” with a previous bearish view. Another notable call came from Goldman Sachs Group Inc., which said banks have “moved back into vogue” due to optimism about fiscal aid and rising rates. Bitcoin pared gains after topping $40,000.

House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Charles Schumer, D-N.Y., demanded that President Donald Trump’s Cabinet immediately remove him from office and threatened a new drive to impeach him if they don’t act. Democrats, who already have a majority in the House, are set to take control of the Senate and presidency, paving the way for Biden to bring his legislative agenda to life and reshape the economy. While campaigning in Georgia before the runoff elections, he vowed that $2,000 stimulus checks would be sent out “immediately” if his party won the state.

“Markets (rightly, in our view) see the U.S. government as ultimately a stable-enough set of institutions even if things occasionally go pear-shaped,” Nick Colas, co-founder of DataTrek Research, wrote in a note to clients. “Politics play second fiddle to economic and corporate fundamentals when it comes to setting asset prices. The country’s economic future coming out of the pandemic remains promising.”

Data Thursday showed that growth at U.S. service providers unexpectedly accelerated as gains in business activity and new orders helped offset a decline in a measure of employment. Friday’s jobs report is forecast to show a sharp slowdown in hiring. Federal Reserve Bank of Dallas President Robert Kaplan said officials shouldn’t intervene to slow rising bond yields because that’s expected to happen as the economy recovers.

These are some of the main moves in markets:

Stocks

– The S&P 500 increased 1.5% at 4 p.m. EST.

– The Stoxx Europe 600 Index gained 0.5%.

– The MSCI Asia Pacific Index rose 0.8%.

Currencies

– The Bloomberg Dollar Spot Index jumped 0.6%.

– The euro declined 0.5% to $1.2265.

– The Japanese yen depreciated 0.8% to 103.84 per dollar.

Bonds

– The yield on 10-year Treasurys rose four basis points to 1.07%.

– Germany’s 10-year yield declined less than one basis point to -0.52%.

– Britain’s 10-year yield jumped four basis points to 0.284%.

Commodities

– West Texas Intermediate crude rose 0.7% to $50.96 a barrel.

– Gold lost 0.3% to $1,913.76 an ounce.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Commerce ministry announces core missions this year

EconJan 08. 2021Minister Jurin Laksanawisit

By The Nation

The Commerce Ministry’s core missions this year are to boost farmers’ income and to ease people’s living costs, said minister Jurin Laksanawisit on Thursday.

Measures implemented by the ministry to meet those goals include the price guarantee scheme for farmers, the subsidised shopping scheme, and the push to expand Thai food’s share of the global market.

It will also continue to promote the use of digital platforms for exports and exhibitions, he added.

Meanwhile, the ministry will accelerate negotiations for free trade agreements with countries and territories around the world.

Last month the ministry’s Department of Trade Negotiations released a study on the pros and cons of resuming free-trade talks with the European Union, for Jurin to consider.

Jurin said the ministry will also continue to develop new online services to boost ease of doing business.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Economy expected to grow 2.5-3% but not recover fully: NIDA prof

EconJan 08. 2021

By The Nation

The economy is expected to expand between 2.5 and 3 per cent this year, said Assoc Prof Dr Montree Socatiyanurak. He is director of the National Institute of Development Administration’s Advanced Master of Management Programme.

He said the economy is not expected to totally recovery due to uncertainty in containing the second wave of Covid-19 in Thailand and the strengthening baht, which will impact the export sector.

Meanwhile, the tourism industry is expected to begin to recover late this year after a vaccine becomes available.

Montree said the new round of Covid-19 infections would affect the economy in the first quarter this year, which might see higher contraction compared to the same period last year.

Thailand had earned revenue from tourism in the first quarter last year during the months of January and February, when the country welcomed around 7 million tourists.

Related story: Local production of AstraZeneca vaccine kicks off, Thailand signs up for 2 million doses from Chinese firm

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thais stocks will rise on US Congress ‘blue wave’: expert

EconJan 08. 2021

By The Nation

The Stock Exchange of Thailand will benefit from an influx of foreign funds after the US Democrats took control of Congress on Wednesday, according to a top analyst.

Therdsak Thaveeteeratham, executive vice president for research at Asia Plus Securities, added that Wednesday’s storming of the US Capitol building by Trump supporters would only have a short-term effect on the SET.

“Meanwhile, the Thai stock market is benefiting from foreign direct investment, President-elect Biden’s policy to increase corporate tax and the minimum wage, the low-interest rate, baht appreciation and a liquidity overflow,” he said.

He forecast the SET would range between 1,550 and 1,626 points this year based on an earnings yield of 3.5-3.7 per cent.

“The index could hit 1,640 points if central banks cut the interest rate by 0.25 per cent at the beginning of this year,” he said.

Stocks that will benefit from the “blue wave” in US Congress were PTT, PTTEP, GULF, AP, DCC, ADVANC, TU, CPF and IVL, he added.

But Thailand’s lockdown to deal with the fresh Covid-19 outbreak would hit the country’s economy and SET-listed companies’ performance, he warned.

“However, we believe the government will launch measures to support the economy amid the crisis,” he said. Therdsak expects Thai GDP to grow by 4.1 per cent this year.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

GSB customers in ‘red’ provinces get debt relief

EconJan 07. 2021

By The Nation

Government Savings Bank (GSB) customers in 28 “red zone” provinces can register for debt repayment assistance at its website from Friday (January 8) onwards, said GSB president Vitai Ratanakorn on Thursday.

The red provinces, with high Covid controls, have 1.9 million GSB customers with loans totalling Bt670 billion.

The bank will consider suspending their principal repayments so they pay only interest, or cutting their interest payments.

The measure will last for three to six months.

The Centre for Covid-19 Situation Administration (CCSA) imposed maximum controls on 28 provinces following the fresh wave of virus infections. The 28 red zone provinces are Bangkok, Ang Thong, Ayutthaya, Lop Buri, Nakhon Nayok, Nakhon Pathom, Nonthaburi, Pathum Thani, Samut Prakan, Samut Sakhon, Samut Songkhram, Saraburi, Sing Buri, Suphan Buri, Kanchanaburi, Phetchaburi, Prachuap Khiri Khan, Ratchaburi, Tak, Chachoengsao, Chanthaburi, Chon Buri, Prachin Buri, Rayong, Sa Kaeo, Trat, Chumphon and Ranong.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thai stock market surges past 1,500 pts again as US stimulus hope rise

EconJan 07. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,513.78 on Thursday, up 21.42 points or 1.44 per cent. Total transactions amounted to Bt121.32 billion with an index high of 1,519.91 and a low of 1,502.81.

In the morning session, an analyst at Krungsri Securities forecast the day’s index would rise to between 1,500 and 1,510 points amid hopes of fresh US stimulus measures after the Democrats gained control of Congress, as well as the rising oil price.

“However, investors should beware of mass sell-offs in response to technical indicators,” he said.

The 10 stocks with the highest trade value today were EA, KBANK, GPSC, KTC, SAWAD, SCGP, TMB, PTT, KCE and IVL.

As of 4.30pm, the price of oil rose by US$0.32 or 0.63 per cent to $50.95 per barrel, while gold rose by $13.50 or 0.71 per cent, to $1,922.10 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 27,490.13, up 434.19 points or 1.60 per cent.

China’s Shang Hai SE Composite Index closed at 3,576.20, up 25.33 points or 0.41 per cent, while Shenzhen SE Component Index closed at 15,356.40 up 168.79 points or 1.11 per cent.

Hong Kong’s Hang Seng Index closed at 27,548.52, down 143.78 points or 0.52 per cent.

South Korea’s KOSPI Index closed at 3,031.68, up 63.47 points or 2.14 per cent.

Taiwan’s TAIEX Index closed at 15,214, up 230.87 points or 1.54 per cent.