Tag Archives: เศรษฐกิจ

SET to face downward pressure from rising Covid cases, funds outflow #SootinClaimon.Com

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https://www.nationthailand.com/business/40003437

SET to face downward pressure from rising Covid cases, funds outflow

The Stock Exchange of Thailand (SET) Index fell by 19.17 points, or 1.22 per cent, to 1,555.20 on Monday morning.

The SET Index closed at 1,574.37 on Friday, up 2.36 points or 0.15 per cent. Transactions totalled THB80.44 billion with an index high of 1,575.66 and a low of 1,567.17.

Krungsri Securities predicted the index on Monday would fall to between 1,550 and 1,560 points due to uncertainty over the outbreak of the Covid-19 delta variant in the US and Europe that may affect economic recovery.

It forecast a rise in domestic Covid-19 cases and expected volatility in foreign funds flow to pressure the index.

Daily infections reached a new high of 11,784 on Monday and 81 deaths. It is the third consecutive day the country has recorded over 10,000 cases.

It recommended that investors buy:

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

▪︎ BCH, CHG, BDMS, HMPRO, GLOBAL, DOHOME, BEM, CKP, CBG, OSP, ICHI, GPSC, BEC, GUNKUL, JWD, WICE, SONIC and NER, whose second-quarter business turnover is expected to improve.

Published : July 19, 2021

By : The Nation

Gold continues upward trend of the past four weeks #SootinClaimon.Com

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https://www.nationthailand.com/business/40003436

Gold continues upward trend of the past four weeks

The price of gold in Thailand rose by THB50 per baht weight on Monday morning.

The Gold Traders Association report at 9.27am showed the buying price of a gold bar at THB28,100 per baht weight and selling price at THB28,200, while gold ornaments were priced at THB27,591.20 and THB28,700, respectively.

At close on Saturday, the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while gold ornaments were priced at THB27,545.72 and THB28,650, respectively.

The price rose by THB350 per baht weight last week, gaining for four weeks in a row.

Spot gold price on Monday was US$1,814 (THB59,647) per ounce after Comex gold on Friday dropped by $14 to $1,815 per ounce due to the strengthening dollar, rising US bond yield and improvement in US retail sales.

Hong Kong gold price, meanwhile, dropped by HK$80 to $16,810 (THB71,155) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : July 19, 2021

By : The Nation

Strengthening dollar and Covid crisis pull baht down #SootinClaimon.Com

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https://www.nationthailand.com/business/40003435

Strengthening dollar and Covid crisis pull baht down

The baht opened at 32.81 to the US dollar on Friday, weakening from Thursday’s closing rate of 32.75.

The Thai currency is likely to move between 32.75 and 32.90 on Monday and between 32.60 and 33 this week, Krungthai Bank market strategist Poon Panichpibool said.

Poon explained that there were two negative factors affecting the baht, the dollar’s direction and the Covid-19 situation in Thailand and other countries.

He said the dollar tended to be supported by the demand as a safe haven asset when market players were still concerned about the Covid-19 crisis around the world. The worse the situation, the more the dollar will strengthen, Poon concluded.

At the same time, some foreign investors have sold their assets in Thailand amid uncertainty in the country, causing the baht to drop.

Poon said that the baht’s resistance was at 32.80 to the US dollar. If the baht passed that point, it could possibly reach 33.

Published : July 19, 2021

By : The Nation

Rubber exports expected to grow by 25 per cent this year #SootinClaimon.Com

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https://www.nationthailand.com/business/40003399

Rubber exports expected to grow by 25 per cent this year

Thailands rubber exports shot up by over 50 per cent year on year during the first five months of 2021, the Ministry of Commerce said.

Exports were valued at THB70.34 billion, an increase of 50.80 per cent from the same period last year when it was valued at 46.65 billion baht. Export volume increased to 1.39 million tons from 1.17 million tons during the same period last year.

Lakchai Kittipol, honorary president of Thai Rubber Association, revealed that the substantial growth in rubber exports was due to the low export base last year. He said the economy around the world is starting to recover and many countries are placing more orders.

He said the price of rubber exports this year was higher than last year. Exports continue to expand but at a lower rate because trade partners have already bought some of the stock.

“Rubber exports in volume this year should be close to last year because the production of rubber in Thailand is still not much. During this time, the rain is also an obstacle to production and foreign workers are unable to enter due to the spread of Covid-19,” said Lakchai.

Value-added exports, this year, are expected to grow at least 25 per cent (valued at THB136.125 billion) due to improvement in the world economy as compared to last year.

The top 5 export markets for Thai rubber are: China, Malaysia, Japan, the US and South Korea. All markets saw double-digit growth. In the first five months, the Chinese market grew 33 per cent, Malaysia grew 61 per cent, Japan grew 82 per cent, the US grew 52 per cent, and South Korea grew 36 per cent.

Published : July 18, 2021

By : The Nation

OPEC+ set to meet as cartel edges toward end of standoff #SootinClaimon.Com

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OPEC+ set to meet as cartel edges toward end of standoff

OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved.

Oil ministers will meet at noon Vienna time, the group confirmed. Officials have said privately in recent days that a full meeting would only be called if a deal was in reach.

A truce would open the way to more oil coming onto the market, easing a looming supply squeeze and averting an inflationary price spike. It would also put an end to a diplomatic spat that has unnerved oil traders, as the fight between the two long-time allies risked unraveling the broader OPEC+ accord that’s underpinning the recovery in crude prices.

The UAE has been arguing that the way its quota is calculated is unfair. To make its point, the country blocked a deal that the rest of the cartel had agreed to, which would have added 400,000 barrels a day each month.

The collapse of talks briefly sent crude to a six-year high in New York, although prices have dropped since to trade just below $72 a barrel on Friday.

Earlier this week, there were signs of progress between Saudi Arabia and the UAE toward an outline agreement that would have given the UAE a more generous output quota. Then on Saturday, ministers from Saudi Arabia, Kuwait, the UAE, Bahrain and Oman met online to discuss the matter, delegates said, asking not to be named because the information isn’t public.

The spat has been unusually public as tensions between the two countries go beyond oil diplomacy amid growing economic rivalry. As the ministers of each country used media interviews to make their case, memories were stirred of the 2020 price war, and Abu Dhabi’s veiled threat later that year to leave the alliance.

“Over the past year it has become increasingly clear that a necessary if not sufficient condition for OPEC+ cohesion is alignment between not only Russia and Saudi Arabia, but also the UAE,” said Bob McNally, president of Rapidan Energy and a former White House official, predicting a deal would be done. “Odds favor success.”

If there is a deal on Sunday, it is unclear how quickly additional supplies can be delivered to the market. August sales volumes are largely locked in and most Gulf countries are preparing for an Islamic holiday that will close government offices and businesses for most or all of next week.

Without extra output from OPEC+, the International Energy Agency warned on Tuesday that the oil market will “tighten significantly” and potentially damage the economic recovery.

The UAE’s dispute with OPEC+ centers around its demand for a higher production limit next year, in return for backing an extension of the cartel’s current agreement from April 2022 until December 2022.

At the previous OPEC+ meeting, Abu Dhabi asked to reset the baseline for its production cuts to about 3.8 million barrels a day next year, potentially increasing its production limit by more than 600,000 barrels a day.

Last week, the UAE was ready to set its new baseline at 3.65 million barrels a day, one delegate said. Another delegate said that figure was likely to change.

Oil analysts have warned that the UAE’s demand could open a “Pandora’s Box” for OPEC+ as other members seek better terms to redress grievances of their own. Sure enough, Iraq is also pursuing a higher production baseline, according to a delegate, who didn’t specify the number it’s requesting or when it would take effect.

Published : July 18, 2021

By : Syndication Washington Post, Bloomberg · Javier Blas, Salma El Wardany, Grant Smith

PTT Shines on Carbon Credit Trading to Support National Net Zero Emission #SootinClaimon.Com

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https://www.nationthailand.com/business/40003323

PTT Shines on Carbon Credit Trading to Support National Net Zero Emission

To reach net zero carbon emissions, many developed countries announced their timeframe targets. For example, Scandinavian Peninsula’s countries aim for net zero during 2030-2045.

Derivatives Trading Department, International Trading Business Unit, PTT Plc. is preparing for carbon credit trading, a mega trend of the energy industry. In 1997, Kyoto Protocol mirrored the first commitment of climate change action, targeting of 5% greenhouse gases (GHG) reduction compared with 1990 emission. In 2015, at the 21st Conference of the Parties (COP21) in Paris, the Agreement on climate change was adopted, having its goal to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. To achieve this long-term temperature goal, countries aim to net zero greenhouse gas emissions by 2050. Net zero emissions refers to achieving an overall balance between GHG emissions produced and GHG emissions taken out of the atmosphere.

To reach net zero carbon emissions, many developed countries announced their timeframe targets. For example, Scandinavian Peninsula’s countries aim for net zero during 2030-2045. Other countries such as EU, UK, USA, South Korea, Japan and New Zealand target net zero in 2050 while China plans for 2060. (Thailand and many countries remain under consideration.)

List of countries announced for net zero targets (Source: https://eciu.net/netzerotracker) List of countries announced for net zero targets (Source: https://eciu.net/netzerotracker)

For efficient implementation of GHG emissions, several countries issue rules and regulations as well as measures such as a carbon tax. The government sets a price that emitters must pay for each ton of GHG emissions they emit. In some countries where compliance markets are established, Emission Trading System (ETS) or Cap and Trade is exercised. It is a government regulatory system designed to give companies an incentive to reduce their carbon emissions. The government sets an emission cap and allow the entities whose emission is less than cap, to trade emission permits called “carbon credit”. Companies with high GHG emissions can buy emission allowance from others which have fewer emissions. The unit of measure is assessed as one ton of carbon dioxide equivalent (CO2e). The largest and most stringent market is European Union (EU) where ETS is effective in 27 nations covering more than 10,000 companies. Participants in EU Allowance (EUA) can enroll in three forms of trading. The first is auction which is bidding from regulators. The second is bilateral agreement between buyer and seller or over the counter (OTC). The third is exchange traded which major market is European Energy Exchange (EEX). In addition, carbon credit can be traded in International Continental Exchange (ICE), a familiar platform for oil trading. In 2020, carbon credit traded volume in EUA was as high as 8,090 Million ton CO2e. As of 12 July 2021, the price of 1 EUA was traded at 52.86 Euro/ton CO2e .

EU ETS Cap and Trade system (Source: Investigate Europe) EU ETS Cap and Trade system (Source: Investigate Europe)To encourage other countries which have not yet decided on their net zero emission plans, the voluntary carbon market is developed to enhance projects with enable carbon reduction or carbon sink, for instance, renewable energy projects, Agriculture, Forestry and Other Land Use (AFOLU) projects. Those projects have to be certified by international standard organizations such as Verra (Verified Carbon Standard), Gold Standard. Moreover, validation, monitoring and verification processes are essential for carbon credit certification. The certification can be traded in over-the-counter market. Most buyers are organizations or companies committed for sustainable principles in conform with environment, social, and governance (ESG). World class companies such as Microsoft, Apple and Google purchase carbon credits to promote their organization images on environmental awareness. As for airlines under the supervision of the International Civil Aviation Organization (ICAO)and committed to Carbon Offsetting & Reduction Scheme for International Aviation (CORSIA) are also interested in for purchasing carbon credits from voluntary markets to offset their GHG emissions.

Early this year, S&P Global Platts, a major house for energy price assessment initiated a carbon credit price assessment for CORSIA. In June 2021, Platts announced two types of carbon credit price assessment, Nature-Based Carbon Credits and Carbon Neutral LNG, signaling carbon credit becomes more widely traded and trading volume may be increased significantly in the coming future. For global stage, eyes are on COP 26 meeting in Glasgow, Scotland in November 2021. The conference is planned for further negotiation of Article 6 of the Paris Agreement, which mainly relate to carbon markets. Reaching an agreement will level up international commitments on climate change.

COP26 Press release announces all member countries accelerate their NDC (Nationally Determined Contribution) or GHG reduction. COP26 Press release announces all member countries accelerate their NDC (Nationally Determined Contribution) or GHG reduction.Mr. Disathat Panyarachun, Senior Executive Vice President, International Trading Business Unit (TBU), PTT Public Co., Ltd. supports national policies and PTT Group’s net zero emission roadmap. TBU has closely monitored carbon credit market in preparation for enrolling in carbon credit trading via Intercontinental Exchange (ICE) where PTT has already registered. Carbon credit can also be traded via over-the-counter markets where PTT has established our network across the world. In particular, our London office, PTT International Trading London Ltd. is at the center of derivatives trading in Europe which can be a great support for carbon credit trading to meet growing demand in the near future.

Published : July 16, 2021

SET rises slightly on bad day for Asian stocks #SootinClaimon.Com

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https://www.nationthailand.com/business/40003339

SET rises slightly on bad day for Asian stocks

The Stock Exchange of Thailand (SET) Index closed at 1,574.37 on Friday, up 2.36 points or 0.15 per cent. Transactions totalled THB80.44 billion with an index high of 1,575.66 and a low of 1,567.17.

In the morning session, Krungsri Securities forecast the index on Friday would fluctuate between 1,560 and 1,580 points despite the US Federal Reserve signalling it would maintain its interest rate and quantitative easing programme.

It expected the index to come under pressure from a fall in oil price, outflow of foreign funds, and the surge in domestic Covid-19 cases.

The 10 stocks with the highest trade value today were GPSC, GUNKUL, BANPU, RCL, KBANK, STGT, ACE, MTC, CPF and ASIAN.

Other Asian indices were down except for Hong Kong:

Japan’s Nikkei Index closed at 28,003.08, down 276.01 points or 0.98 per cent.

China’s Shanghai SE Composite Index closed at 3,539.30, down 25.29 points or 0.71 per cent, while the Shenzhen SE Component Index closed at 14,972.21, down 197.12 points or 1.30 per cent.

Hong Kong’s Hang Seng Index closed at 28,004.68, up 8.41 points or 0.030 per cent.

South Korea’s KOSPI closed at 3,276.91, down 9.31 points or 0.28 per cent.

Taiwan’s TAIEX closed at 17,895.25, down 138.94 points or 0.77 per cent.

Published : July 16, 2021

By : The Nation

Increasing Covid cases, funds outflow to pile pressure on SET #SootinClaimon.Com

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https://www.nationthailand.com/business/40003321

Increasing Covid cases, funds outflow to pile pressure on SET

The Stock Exchange of Thailand (SET) Index fell by 3.83 points, or 0.24 per cent, to 1,568.18 on Friday morning.

The SET Index closed at 1,572.01 on Thursday, up 2.31 points or 0.15 per cent. Transactions totalled THB83.26 billion with an index high of 1,580.43 and a low of 1,570.96.

Krungsri Securities predicted the index on Friday would fluctuate between 1,560 and 1,580 points despite the US Federal Reserve signalling it would maintain its interest rate and quantitative easing programme.

It forecast that a fall in oil price, the outflow of foreign funds and an increase in domestic Covid-19 cases would pressure the index.

It recommended that investors buy:

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

▪︎ BCH, CHG, BDMS, HMPRO, GLOBAL, DOHOME, BEM, CKP, CBG, ICHI, GPSC, BEC, GUNKUL, JWD, WICE, SONIC and NER, whose second-quarter business turnover is expected to improve.

Published : July 16, 2021

By : The Nation

Gold gains after status quo signal from US Fed #SootinClaimon.Com

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https://www.nationthailand.com/business/40003317

Gold gains after status quo signal from US Fed

The price of gold in Thailand rose by THB50 per baht weight on Friday morning, as the US Federal Reserve signalled it would maintain the interest rate as well as its quantitative easing programme.

However, the price has risen slightly due to the strengthening dollar.

The Gold Traders Association report at 9.23am showed buying price of a gold bar at THB28,200 per baht weight and selling price at THB28,300, while gold ornaments were priced at THB27,697.32 and THB28,800, respectively.

At close on Thursday, the buying price of a gold bar was THB28,150 per baht weight and selling price THB28,250, while gold ornaments were priced at THB27,636.68 and THB28,750, respectively.

Spot gold price on Friday was US$1,827 (THB59,869) per ounce after Comex gold on Thursday rose by $4 to $1,829 per ounce.

Hong Kong gold price, meanwhile, dropped by HK$20 to $16,950 (THB71,495) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : July 16, 2021

By : The Nation

Netflix plans to offer video games in push beyond films, TV #SootinClaimon.Com

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Netflix plans to offer video games in push beyond films, TV

Netflix, marking its first big move beyond TV shows and films, is planning an expansion into video games and has hired a former Electronic Arts and Facebook executive to lead the effort.

Mike Verdu will join Netflix as vice president of game development, reporting to Chief Operating Officer Greg Peters, the company said on Wednesday. Verdu was previously Facebook’s vice president in charge of working with developers to bring games and other content to Oculus virtual-reality headsets.

The idea is to offer video games on Netflix’s streaming platform within the next year, according to a person familiar with the situation. The games will appear alongside current fare as a new programming genre — similar to what Netflix did with documentaries or stand-up specials. The company doesn’t currently plan to charge extra for the content, said the person, who asked not to be identified because the deliberations are private.

Netflix shares gained as much as 2.8% to $563.45 in premarket trading Thursday. The stock had been up 1.3% this year through Wednesday’s close.

Netflix has been seeking ways to keep growing, especially in more saturated markets such as the U.S. That’s included building out its kids’ programming, opening an online shop to sell merchandise, and tapping Steven Spielberg to bring more prestigious movies to its lineup. The company remains well ahead of streaming rivals such as Disney+ or HBO Max, but it added fewer subscribers than expected in its most recently reported quarter.

Pushing into games would be one of Netflix’s boldest moves yet. In Verdu, the company has an executive who worked on popular mobile games at Electronic Arts, including titles in the Sims, Plants vs. Zombies and Star Wars franchises. He also served as chief creative officer for Zynga between 2009 and 2012.

Netflix will be building out its gaming team in the coming months, according to the person familiar with the matter. The company has already started advertising for game-development related positions on its website.

“This feels like a significant event with broad ramifications across the video-games landscape,” Citi analyst Jason Bazinet wrote in a note Thursday. He said Netflix’s move creates “obvious risks” for larger game developers and publishers.

Video games give Netflix another way to lure new customers and also offer something none of its direct competitors currently provides. Walt Disney Co., AT&T Inc.’s WarnerMedia and Amazon.com Inc. all have access to live sports, but they don’t have gaming within their main video services.

Ultimately, the move may make it easier for Netflix to justify price increases in coming years. Games also serve the purpose of helping market existing shows.

Many of the largest tech companies do sell gaming options in addition to their video services. Apple Inc. has a platform called Arcade for games — as well as a TV+ service for original video projects. But it charges extra for the gaming.

What Bloomberg Intelligence Says

“This is a natural extension of its Netflix’s content strategy, allowing it to mine intellectual property from popular shows like ‘Stranger Things,'” Bloomberg Intelligence media analyst Geetha Ranganathan wrote. “Though it may not generate much additional revenue, it will help deepen engagement and increase the service’s appeal and pricing power. Don’t expect this to be a turning point, but it shows that the company will explore new formats to increase time spent on the platform.”

The news jolted shares of GameStop Corp., the video-game retailer that’s been attempting a comeback. It fell as much as 7.5% in premarket trading Thursday.

Evidence of Netflix’s plans to add games has already begun to appear in files hidden deep within the company’s app, according to research conducted by iOS developer Steve Moser that was shared with Bloomberg.

Netflix has previously licensed the rights to games based on its shows — including “Stranger Things” — but this new initiative is much larger in scope. The Los Gatos, California-based company has yet to settle on a game-development strategy, said the person. In typical Netflix fashion, the company may start with just a few games and build from there.

Netflix also has made earlier forays into interactive programming, such as choose-your-own-adventure-style shows. It created versions of programs like “Carmen Sandiego” and “Black Mirror” in that format, which stops short of being a true video game.

Netflix co-Chief Executive Officers Reed Hastings and Ted Sarandos have shared their interest in pushing into gaming in recent calls with analysts. They’ve also identified the battle-royale shooter game Fortnite as a competitor for its customers’ time.

Still, Hollywood studios have a checkered history in the video-game business. Some companies have had a lot of success licensing their movies or TV shows for games, and Warner Bros. has created a handful of hit titles in-house over the years.

But Disney, the world’s largest entertainment company, shut down most of its in-house gaming operations after years of unsuccessful efforts. It has since focused on licensing Marvel and Star Wars properties for games.

Published : July 16, 2021

By : Syndication Washington Post, Bloomberg · Lucas Shaw, Mark Gurman