#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Stocks gain on bet that fresh stimulus is coming

EconAug 07. 2020

By  Syndication Washington Post, Bloomberg · Claire Ballentine, Vildana Hajric · BUSINESS, US-GLOBAL-MARKETS 
U.S. stocks climbed on optimism that officials will come to terms on fresh economic stimulus, putting a gauge of global stocks on the verge of erasing this year’s losses. Gold extended gains amid speculation that interest rates will stay low for longer.

The S&P 500 rose for a fifth straight day, with Apple leading the charge as it reached a record and helping lift the MSCI All-Country World Index to little changed for the year. Stocks got a lift in the afternoon as lawmakers pledged to keep working toward a coronavirus relief package and President Donald Trump said he could act unilaterally on some measures. The dollar slipped.

Equity gains have mounted in the past week amid better-than-forecast earnings and optimism on a coronavirus vaccine, but any hint that negotiators won’t be able to resolve differences over a new U.S. relief package has sparked jitters. The White House and congressional Democrats are up against a self-imposed Friday deadline to strike a deal as data that was released Thursday showed almost 1.2 million unemployment claims.

“Anything that we can do to continue to provide a bridge to people as we get through this crisis is going to be really important,” said Chuck Cumello, president and chief executive officer of Essex Financial Services. “The U.S. consumer is driving two-thirds of the economy.”

Elsewhere, mining and energy producers were among the laggards as European stocks slumped. Turkey’s lira touched a record low against the dollar as interventions by state banks did not reassure markets. Gold climbed above $2,050 an ounce in a fifth straight day of gains.

– – –

Here are some key events coming up:

– Germany’s June industrial production figures are scheduled for Friday.

– The July U.S. jobs reports is expected Friday.

These are some of the main moves in markets:

Stocks

– The S&P 500 Index rose 0.6% at 4 p.m. New York time.

– The Stoxx Europe 600 Index declined 0.7%.

– The MSCI Asia Pacific Index rose 0.2%.

Currencies

– The Bloomberg Dollar Spot Index slipped 0.1%.

– The Japanese yen was little changed at 105.56 per dollar.

– The Turkish lira weakened 2.5%, to 7.2253 per dollar and fell as low as 7.31.

Bonds

– The yield on 10-year Treasurys decreased one basis point, to 0.54%.

– Britain’s 10-year yield dipped two basis points, to 0.11%.

– Germany’s 10-year yield declined three basis points, to -0.53%.

Commodities

– West Texas Intermediate crude fell 0.4%, to $42.03 a barrel.

– Gold strengthened 1.2%, to $2,061.90 an ounce.

– Copper fell 0.1%, to $2.9135 per pound.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

PM predicts economy will shrink less than 10% in 2020

EconAug 07. 2020PM Prayut Chan-o-cha (File photo)

By The Nation

Prime Minister General Prayut Chan-o-cha has predicted the Thai economy will contract less than 10 per cent this year, thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak.

He made the prediction during a speech on the economy at an event hosted by the Bangkok Post to celebrate its 74th anniversary on August 6.

He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.

The growth trend had continued until this year when the economy was brought to its knees by the outbreak, said the premier.

The government has launched a series of relief measures to help businesses and people survive the crisis, he added.

Related story: Private sector cuts GDP forecast to -9% as baht adds to business worries

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

New Cabinet economics team faces huge challenges: experts

EconAug 07. 2020:From left: Finance Minister Predee Daochai, Labour Minister Suchart Chomklin and Deputy Labour Minister Narumon Pinyosinwat.

By Wichit Chaitrong
The Nation

Newly appointed economic ministers will find it severely difficult to rescue the economy from the Covid-19 fallout, given dwindling financial resources, rising unemployment and the global threat of a second-wave contagion, warn economists.

The immediate challenge is to support workers and businesses as relief measures including cash handouts come to an end, said Charl Kengchon, executive chairman at the Kasikorn Research Centre.

Government fiscal police is already strained by the massive Bt1 trillion loaned to deal with the virus crisis, he said, following the appointment of key economic ministers announced by the government on Thursday (August 6).

The economy is showing signs of improvement, but recovery remains a distant prospect as only some sectors and workers have resumed operations.

“We have not yet reopened for tourism, so businesses and workers in tourism-related sectors are still suffering the most,” he said.

Meanwhile countries including the United States, Australia, Japan, Philippines and Vietnam have experienced a surge of new infections, which has delayed the recovery for Thai exports.

Newly appointed Finance Minister Predee Daochai will face difficult decisions on which groups need further support, business or workers, given limited financial resources.

“I don’t think the government will want borrow more money, but problems that need addressing are mounting, so which groups the government will provide further relief to is very important,” he said.

External factors are also causing uncertainty, including whether the US Federal Reserve will cut its policy rates again or inject more liquidity into the market, which will weaken the dollar and cause appreciation of the baht.

A strong baht hits Thai exporters, who are paid in dollars and must then exchange them for baht.

The global exchange rate market is so big that the central bank might be not be able to prevent the baht from rising, Charl said.

Regarding tourism, the challenge is how to reopen the sector and related services. Reopening to foreign tourists would risk importing more Covid-19 cases, which could lead to a crisis of confidence in health management, he added.

Meanwhile Yongyuth Chalamwong, research director at the Thailand Development Research Institute, said the government needs to help both businesses and workers. 

“The government may need to borrow more money as existing relief programmes are starting to expire,” he said.

Businesses may lay off more workers in the third quarter as they lack cashflow and many have been unable to reopen.

The government has prioritised measures to contain the virus, but now it has to focus more on economic activities, he said.

If the economy does not improve significantly, 4.5 million service sector workers and 1 million in manufacturing may lose their jobs, he warned.

The government has to think about how it can open the country to foreign visitors, he said, adding that the 14-day mandatory quarantine may be too long. Many hotels will not be able to survive for long after recently reopening as they have no income from foreign tourists, he said.

Challenges facing newly appointed Labour Minister Suchart Chomklin and his deputy minister Narumon Pinyosinwat include finding ways to support informal workers not covered by the Social Security Fund, said Yongyuth.

They account for two-thirds of Thailand’s 38 million-strong workforce. The Labour Ministry must consider changing the Social Security Fund to a mandatory scheme which covers all workers, both formal and informal, he added.

“Currently, there is huge income inequality between workers who are covered by the Social Security Fund and those outside its protection,” he pointed out.

The ministry also needs to provide subsidies for training as firms do not have enough funds to train workers, given the persisting impact of the virus pandemic, Yongyuth said.

Currently, about 1.5 million workers are receiving Social Security unemployment benefits, up sharply from the previous 300,000 to 400,000 recipients, he added.

Meanwhile, Lavaron Sangsnit, director general at the Fiscal Policy Office, insisted the government still had cash in hand from the Bt1 trillion relief fund. “Half of the Bt1-trillion loan remains unused,” he said.

Predee, a former co-president of Kasikornbank and ex-chairman of the Thai Bankers’ Association, is believed to understand the issues faced by both private companies and workers very well, said Lavaron.

Supant Mongkolsuthree, chairman of the Federation of Thai Industries, also expressed confidence in Predee, saying that businesses will cooperate with him well in tackling the impact of the coronavirus. He called for more financial support for small and medium-sized enterprises (SMEs), many of which have been unable to access bank loans.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

U.S. stocks fluctuate with focus on stimulus bill

EconAug 06. 2020

By Syndication Washington Post, Bloomberg · Claire Ballentine · BUSINESS, US-GLOBAL-MARKETS 

U.S. stocks fluctuated as investors weighed an uncertain outlook for Congress to approve more stimulus and better-than-forecast jobs data. European stocks dropped on earnings disappointments and gold extended gains.

The S&P 500 Index swung between modest gains and losses as investors looked for signals on whether lawmakers were making progress toward a coronavirus relief package. Mining and energy producers were among the laggards as European stocks dipped, with Glencore down the most since May after scrapping its dividend.

Equity gains in the past week have pushed a gauge of global stocks to within a whisker of recouping this year’s declines, but any hint that negotiators won’t be able to resolve differences over a new U.S. virus relief package has sparked jitters. The White House and congressional Democrats are running up against a self-imposed Friday deadline to strike a deal as data Thursday showed almost 1.2 million unemployment claims.

“Congress and the White House need to swiftly move forward on the next fiscal stimulus package,” said Yousef Abbasi, global market strategist at StoneX.

Elsewhere, Turkey’s lira tumbled to a record against the dollar as interventions by state banks failed to reassure markets. Gold climbed above $2,050 an ounce on concern loose fiscal policy will spur inflation.

The pound rose against the euro after the Bank of England said it won’t tighten policy soon despite signals that the U.K. economy’s rebound is faster than foreseen.

Stocks:

– The S&P 500 Index fell 0.1% at 11:13 a.m. New York time.

– The Stoxx Europe 600 Index declined 0.8%.

– The MSCI Asia Pacific Index rose 0.1%.

Currencies:

– The Bloomberg Dollar Spot Index was little changed.

– The Japanese yen rose 0.1% to 105.48 per dollar.

– The Turkish lira weakened 3.5% to 7.3043 per dollar.

Bonds:

– The yield on 10-year Treasuries decreased three basis points to 0.51%.

– Britain’s 10-year yield dipped three basis points to 0.09%.

– Germany’s 10-year yield declined three basis points to -0.54%.

Commodities:

– West Texas Intermediate crude rose 0.1% to $42.22 a barrel.

– Gold strengthened 0.9% to $2,055.78 an ounce.

– Copper fell 0.5% to $2.9015 per pound.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

U.S. jobs report to mark slowdown, or worse, in labor recovery

EconAug 06. 2020A Sterile X Labs employee disinfects a table at the Dan Lew Exchange restaurant in Mansfield, Ohio, on July 13, 2020. CREDIT: Bloomberg photo by Ty Wright.

By Syndication. Washington Post, Bloomberg · Reade Pickert, Maeve Sheehey · NATIONAL, BUSINESS, US-GLOBAL-MARKETS 
After a surge in coronavirus cases across the U.S., all signs point to a slowdown in job gains last month — or worse.

Friday’s employment report is forecast to show a 1.5 million increase in nonfarm payrolls in July, the median estimate in projections ranging from a 600,000 decline to a gain of 3.2 million. That’s following a combined rise of 7.5 million in May and June, which just started to make up the 22 million drop over the first two months of the pandemic.

The unemployment rate is projected to fall to 10.5% — still triple the pre-crisis level — from 11.1%.

An increase in new covid-19 cases starting in mid-June, especially in the South and West, added further uncertainty to the economic rebound and spurred a slew of states to halt or reverse reopenings. While there’s little doubt the recovery has mostly stalled in recent weeks, economists’ forecasts for the July jobs numbers depend on how much weight is put on traditional and non-traditional indicators of employment.

ADP Research Institute data missed all estimates Wednesday, showing a 167,000 increase in private payrolls for July, though the initial figures from May and June both ended up being well below the government’s official numbers.

Looking at higher frequency labor-market indicators, the signals range from slower improvement to getting much worse.

Initial jobless claims for regular state programs remain above 1 million on a weekly basis, though a report Thursday suggested the job market is firming as applications declined last week to the lowest since the pandemic started. Continuing claims for those same programs have dropped by about 2 million during the period covered by the jobs report, a sign of hiring.

Meanwhile, an employment measure from Homebase — a scheduling tool used by more than 100,000 local businesses — has largely plateaued. St. Louis Fed economists said in a blog post that their index based on the data “suggests that the recent recovery in employment has halted.”

The Census Bureau’s Household Pulse Survey, which publishes weekly insights about Americans’ experiences during the pandemic, was even more downbeat. Comparing the mid-June and mid-July surveys, the number of Americans who said they were employed in the last seven days declined by about 6.7 million.

“If you put all of these together, it does point to a real stalling in the labor market in July,” said Oxford Economics senior economist Lydia Boussour, who forecasts a 280,000 decline in nonfarm payrolls.

Stephen Gallagher, chief U.S. economist at Societe Generale, disagrees. He’s estimating a 2.66 million payroll gain, pointing to likely increases in health care, personal services, manufacturing and construction, as overshadowing closures at bars and gyms.

“I think we just have a lot of momentum,” Gallagher said.

The timing of July’s renewed job losses is key. For instance, California, the nation’s largest state, closed indoor businesses during the reference period.

If the deterioration in employment actually coincided with the July survey reference week, the impact might not be seen until the August report, said Bloomberg economist Yelena Shulyatyeva. Bloomberg Economics changed its nonfarm payrolls estimate to a 500,000 gain from a 1 million decline.

The composition of job gains will be critical. Sectors such as manufacturing, construction and health care likely continued to rebound from their April lows. Yet hiring in sectors more vulnerable to a virus resurgence, like retail and leisure and hospitality, may have lost momentum amid renewed closures.

Non-federal government jobs could be a wild card. Typically there’s a steep decline in state and local education payrolls in July with the end of the school year, so the Bureau of Labor Statistics adjusts the figures higher to smooth the seasonal pattern. This year, however, education employment has already fallen greatly. Meanwhile, state and local governments are also facing steep revenue declines, squeezing state budgets, which could lead to further job losses.

The longer the pandemic has stretched on, the more businesses have had to make permanent cuts to headcounts — in part because more firms are closing for good.

In April, about three-fourths of job losses were of a temporary nature. Each month, that share has fallen as the number of permanent job losers has continued to rise.

A systemic shift from temporary to permanent job losses suggests the labor market will recover more slowly, with many companies hesitant to hire new employees amid widespread economic uncertainty.

Another number to watch is the underemployment rate, or the U-6 rate, a more inclusive measure given it also reflects those who quit looking for a job because they were discouraged about their prospects and those working part-time but desiring a full workweek.

The number working part time for economic reasons has declined each month since April while remaining stubbornly high. Rather than laying off workers, many businesses have looked to cut hours or pay.

“A labor market recovery isn’t just increasing employment, it’s also making sure the people who do have a job are getting the number of hours they actually want,” said Nick Bunker, the economic research director for North America at jobs website Indeed.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET dips despite positive news of US stimulus package, rising oil price

EconAug 06. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell 4.13 points or 0.31 per cent, closing at 1,333.22 today (August 6) despite positive signs about the massive US stimulus package and rising price of crude oil. Total transactions tallied at Bt55.061 billion with an index high of 1,346.49 and a low of 1,333.18.

In the morning, a Krungsri Securities stock analyst said he expected the index to rise between 1,345 and 1,350 points before falling despite positive news that the US Congress and White House may reach an agreement on the $1-trillion economic stimulus package by next week.

“The market also gained positive sentiment from the rising price of crude oil, which rose above $42 per barrel after US crude oil stocks dropped by 7.4 million barrels,” the analyst said

However, he warned the index may slump due to volatility, weak second-quarter company performances and mass sell-offs.

The top 10 stocks with the highest trade value today were PTTGC, BAM, ADVANC, AOT, CPALL, PTT, PTTEP, BDMS, CPF and PTL.

As of 4.30pm, the price of crude oil had dropped by $0.28 or 0.66 per cent to $41.91 per barrel, while gold rose by $13.10 or 0.64 per cent, to $2,062.40 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 22,418.15, down 96.70 points, or 0.43 per cent.

China’s Shanghai SE Composite Index closed at 3,386.46, up 8.90 points, or 0.26 per cent, while Shenzhen SE Component Index closed at 13,863.13, down 97.79 points, or 0.70 per cent.

Hong Kong’s Hang Seng Index closed at 24,930.58, down 171.96 points, or 0.69 per cent.

South Korea’s KOSPI Index closed at 2,342.61, up 30.75 points, or 1.33 per cent.

Taiwan’s TAIEX Index closed at 12,913.50, up 111.20 points, or 0.87 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Young people confident in their skills, willing to adapt, work harder post-pandemic: survey

EconAug 06. 2020

By The Nation

A Standard Chartered study shows those aged 18-34 in 12 countries are keen to take steps to adapt income streams, and re-skill if they can, in order to earn more.

Covid-19 is significantly impacting personal finances globally, with one-third already earning less and more than half expecting the pandemic to further affect their income and/or employment, a Standard Chartered survey has found, yet young people (aged 18-34) and those in emerging markets are the most confident in their digital skills and are prepared to adapt and work harder to realise opportunities in a post-Covid-19 world.

The study was conducted on 12,000 adults (aged 18 and above) across twelve markets – Hong Kong, Taiwan, mainland China, Singapore, Indonesia, Malaysia, India, the UAE, Kenya, Pakistan, the UK and the US.

It reveals a stark contrast between the financial reality that people face and their confidence in the future. This can be explained by a willingness – particularly among young people and those in emerging markets – to work harder, take steps to adapt income streams, and re-skill if they can, in order to earn more, Standard Chartered said in a press release today (August 6).

Young people are particularly confident, with 80 per cent of 18- to 34-year-olds feeling they have the digital skills needed to thrive post-pandemic compared to 63 per cent of those over 65. And with many graduating or leaving school in the midst of a global recession, younger generations are also more willing, or able, to adapt to the current circumstances. For example, 75 per cent of 25- to 34-year-olds would consider setting up a second income stream, compared to 40 per cent of those over 55. Meanwhile, and 72 per cent of all 18- to 44-year-olds would re-skill, compared to 37 per cent of those aged 55 and above, the company said.

Millennials and Generation Z are also more likely to respond to the crisis by starting a new business. For instance, 52 per cent of those aged 18 to 44 would consider doing so in the next six months, compared to 30 per cent of those 45 and above.

“Globally, this level of flexibility, adaptability and entrepreneurialism tends to decrease with age, along with confidence, despite – or perhaps because – older generations are more established in their careers.

“The divide is even more stark when comparing developed and emerging markets. Those in established global economies are not only less confident they have the digital skills needed to thrive amidst the downturn but are also less willing to adapt and take steps to increase their income,” Standard Chartered said.

More than 88 per cent of those surveyed in Kenya, mainland China, India and Pakistan said they would prefer to work more to get ahead than reduce their hours for less pay. Meanwhile, the UK and the US had the highest proportion of people who valued free time over more money – 38 and 33 per cent, respectively.

In terms of personal finances, respondents in Kenya (93%), mainland China (85%), Malaysia (83%) and India (82%) report the highest proportion of people who want to better manage their money to make it go further.

And while the pandemic has acted as a catalyst for the growth of online banking, with more than half globally using online services more, the shift has been apparent in fast-growing markets. For example, increased use of mobile devices for banking services is most prominent in India (79%), the UAE (72%), and Kenya (69%). Fast-growth markets are also more likely to want their banks to help improve their confidence at managing money digitally as they increasingly look to bank online – Kenya (91%), India (84%) and Indonesia (84%).

According to Standard Chartered, there is one clear area of almost unanimous agreement: a global desire for more flexibility when it comes to working arrangements post-Covid-19. For those for whom it is applicable, 71 per cent would prefer to continue working from home at least two days a week once restrictions are lifted and 77 per cent want more flexible working arrangements.

“Young people around the world have been hit particularly hard by the economic impact of the pandemic,” said Ben Hung, CEO of Retail Banking and Wealth Management and regional CEO for Greater China & North Asia at Standard Chartered. “Many are in insecure employment or graduating to a tough job market. Yet their confidence, adaptability and willingness to work hard, especially in fast-growing markets, provides hope for a recovery.

“Many are considering starting a new business in the wake of the pandemic and want to learn how to manage their finances better. They must be supported. Banks have a role to play both by helping them manage their money and providing tools that make banking easier so they can focus on leading the way to recovery,” Hung added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price could continue to climb over rising inflation, mass buy-ups by large gold funds: experts

EconAug 06. 2020

By The Nation

The price of gold could rise further amid uncertainty over rising inflation and mass buy-ups by the world’s large gold funds, experts said.

Yesterday (August 5), the selling price of gold ornaments rose to Bt30,200 per baht weight, while the cost of a gold bar rose to Bt29,700 after the spot gold price hit a new high of US$2,033 (Bt62,972) per ounce.

This year, the price of gold ornaments and a gold bar rose by approximately Bt8,200 per baht weight, or 36 per cent, year on year, while the spot gold price rose by US$500 per ounce, or 33 per cent, year on year.

Benjama Ma-in, an analyst at YLG Bullion International, said the gold price rose faster than expected as it gained positive sentiment from mass buy-ups in gold after the price rose over the resistance line of $1,800 per ounce.

“However, the real factor that boosted the gold price was the inflation rate, which is likely to increase as countries move to stimulate their economies,” she said.

“Although the inflation rate in Thailand is likely to contract this year, the US Federal Reserve’s balance sheet this year increased from $4 trillion to $7 trillion in six months.”

She explained that the gold price could rise to $2,300 per ounce if many countries continued to inject money into their economies, causing uncertainty among investors over the rising inflation rate.

“For example, the US has injected liquidity until M2 money supply, including public cash and deposits, expanded by 23.19 per cent year on year, while the real yield contracted by 1.06. If the real yield contracts further, the gold price could rise as well,” she said.

“Besides, the US inflation rate could surge over 2 per cent as US economists have said that the Fed may use an average inflation policy instead of setting a 2 per cent inflation framework.”

She advised investors to closely follow the Covid-19 situation because the gold price could drop if a vaccine is successfully developed and many countries begin to ease their monetary policies.

Meanwhile, Gold Traders Association chairman Jitti Tangsitpakdee said the gold price rose over $2,000 per ounce after the destructive chemical blast in Lebanon, and political unrest.

“The price of gold could rise further as the world’s large gold funds are still buying the metal,” he pointed out.

“However, investors should pay attention even while speculating and follow the news regularly because the price is very high and the next resistance line is between $2,045 and $2,050 per ounce,” he added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price hits new high

EconAug 06. 2020

By The Nation

The price of gold rose by Bt150 per baht weight in morning trade today (August 6), the Gold Traders Association reported.

As of 9.32am, the buying price of a gold bar was Bt29,750 per baht weight and selling price Bt29,850, while gold ornaments cost Bt29,213.32 and Bt30,350, respectively.

At close yesterday, the buying price of a gold bar was Bt29,600 per baht weight and selling price Bt29,700, while gold ornaments cost Bt29,061.72 and Bt30,200, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$28.30, or 1.4 per cent, to $2,049.30 (Bt63,707.86) per ounce at yesterday’s close.

The gold price closed at a new high amid a weakening dollar, causing the precious metal to become even more attractive to investors. Meanwhile, the market gained positive sentiment from hopes that the US Congress and the White House would agree on a $1-trillion economic stimulus package.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises slightly on hopes of US stimulus package, rising oil price

EconAug 06. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 0.66 points, or 0.05 per cent, to 1,338.01 this morning (August 6).

A stock analyst at Krungsri Securities expected the index to rise between 1,345 and 1,350 points before falling in response to positive news about a $1-trillion (Bt30.9 trillion) US economic stimulus package, on which the US Congress and the White House could reach agreement next week.

“Also, the market gained positive sentiment from the rising crude oil price that increased over $42 per barrel after US crude oil storage dropped by 7.4 million barrels,” the analyst said.

However, he said stock volatility, weak second-quarter company performance and mass sell-offs in response to technical indicators would see a slump in the index.

He recommended investors buy:

> Energy stocks that benefit from the rising crude oil price, such as PTT, PTTEP, Top, PTTGC, IRPC, SPRC, and IVL.

> Stocks whose second-quarter performance will improve, such as Top, PTTGC, SPRC, BGrim, CPF, TU, Asian, Tasco, STA, STGT, AP, PRM, PTL, AJ, CBG, TQM, JMT, Chayo, PTG, and BCH.

The SET Index closed 6.54 points, or 0.49 per cent, higher at 1,337.35 yesterday. Total transactions stood at Bt60.35 billion, with an index high of 1,341.23 and a low of 1,326.07.