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SET up 2% as foreign funds pile into Thailand (nationthailand.com)

SET up 2% as foreign funds pile into Thailand

EconDec 08. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,478.92 on Tuesday, up 29.09 points or 2.01 per cent. Total transactions amounted to Bt123.46 billion with an index high of 1,484.73 and a low of 1,442.65.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fluctuate between 1,440 and 1,460 points, buoyed by foreign fund inflows in response to positive news of a Covid-19 vaccine.

“However, we advise investors to speculate for short-term profits, as the falling oil price and tight valuation will pressure the index,” he said.

Also significant for the SET would be today’s Cabinet approval for the second phase of the “Khon La Khrueng” (Let’s Go Halves) scheme and the Bt3.4-billion extension of the MRT Pink Line, he added.

The 10 stocks with the highest trade value today were KBANK, PTT, SAK, DELTA, SCB, AOT, ADVANC, PTTGC, PTTEP and KCE.

As of 4.30pm, the price of oil rose by US$0.11 or 0.24 per cent to $45.87 per barrel, while gold rose by $1.70 or 0.09 per cent, to $1,867.70 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 26,467.08, down 80.36 points or 0.30 per cent.

China’s Shang Hai SE Composite Index closed at 3,410.18, down 6.43 points or 0.19 per cent., while Shenzhen SE Component Index closed at 13,973.89, up 0.41 points or 0.0029 per cent.

Hong Kong’s Hang Seng Index closed at 26,304.56, down 202.29 points or 0.76 per cent.

South Korea’s KOSPI Index closed at 2,700.93, down 44.51 points or 1.62 per cent.

Taiwan’s TAIEX Index closed at 14,360.40, up 103.80 points or 0.73 per cent.

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Covid-19 vaccine expected to push exports up by 3-5% next year (nationthailand.com)

Covid-19 vaccine expected to push exports up by 3-5% next year

EconDec 08. 2020

By The Nation

The Thai National Shippers’ Council expects growth of 3 to 5 per cent in the export sector next year, the council’s chairperson Ghanyapad Tantipipatpong said.

The biggest contributor is expected to be the Regional Comprehensive Economic Partnership (RCEP) pact, which was signed in November.

RCEP marks Asean’s biggest free-trade pact to date, covering market of 2.2 billion people with a combined size of US$26.2 trillion or 30 per cent of global GDP.

The other factors are global progress in the development of the Covid-19 vaccine, which will benefit trade and tourism, especially the export of medical equipment and food from Thailand.

The council said it also expects exports this year to contract only 7 per cent from the previous forecast of 10 per cent, provided the monthly export in the last two months of the year reaches $19.3 billion.

Thai export fell 6.71 per cent in October to $19.38 billion, while imports contracted 14.32 per cent to $17.33 billion.

Exports in the first 10 months of 2020 dropped 7.26 per cent to $192.37 billion. The export of farm and industrial farm products dipped 8.8 per cent, while that of industrial goods fell 4.7 per cent.

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Rubber shares shoot up as severe flooding in South hits production (nationthailand.com)

Rubber shares shoot up as severe flooding in South hits production

EconDec 08. 2020

By The Nation

The price of rubber rose as the worst flooding in 30 years in the South, where most of the rubber is grown, has had a direct impact on rubber supply in Thailand.

The price of Grade 3 ribbed smoked sheets and raw rubber sheets in Songkhla on December 4 stood at Bt70.74 and Bt67.49 per kilogramme respectively, which is double the price during the same period last year.

The Rubber Authority of Thailand expects rubber production in Nakhon Si Thammarat, Surat Thani and Songkhla to drop by 100,000 tonnes or 2 per cent of the country’s total yearly production.

Sri Trang Agro Industry (STA), which has devoted 45,000 rai to growing rubber, said the flooding has had an impact on its own productivity as well as that of its subsidiary Sri Trang Gloves Thailand (STGT) because raw materials cannot be delivered to the factories in time.

Thai Rubber Latex Group (TRUBB) has six concentrated latex factories in Thailand, three of which are located in the South, two in the East and one in the North. For now, the company is only getting fresh latex from its subsidiaries in the northern provinces of Chiang Rai, Nan, Phayao and Chai Nat.

North East Rubber (NER) is likely to suffer less of an impact because it purchases materials from farmers, middlemen and cooperatives in the Northeast.

An analyst at KTB Securities said he expects STA to be able to cope with the flooding as it has stocked raw materials for up to four months.

“However, we expect NER to benefit the most from rising rubber prices as its factories and raw material sources are in the Northeast,” he said.

He expects STA to make Bt4.6 billion in profits this year and Bt4.8 billion next year, while NER’s profits are expected to stand at Bt853 million this year and Bt1.08 billion next year.

“We advise buying both STA and NER shares,” he added.

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Falling oil price, tight valuation pressuring SET (nationthailand.com)

Falling oil price, tight valuation pressuring SET

EconDec 08. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 1.83 points, or 0.13 per cent, to 1,448 in the morning session on Tuesday.

An analyst at Krungsri Securities expected the index during the day to fluctuate between 1,440 and 1,460 points amid foreign funds inflows in response to positive news of a Covid-19 vaccine.

“However, we advise investors to speculate short-term profit, as falling oil price and tight valuation would pressure the index,” he said.

He also expected the Cabinet to approve the second phase of the “Khon La Khrueng” (Let’s Go Halves) scheme and the extension of the MRT Pink Line at a cost of Bt3.4 billion at the meeting today.

He recommended that investors buy:

▪︎ ICHI, TKN, CBG and TNP that benefit from “Khon La Khrueng” (Let’s Go Halves) scheme.

▪︎ MINT, CENTEL and AOT that benefit from positive news of Covid-19 vaccine.

The SET Index closed at 1,449.83 on Friday, up 11.51 points or 0.80 per cent. Total transactions amounted to Bt82.7 billion with an index high of 1,454.94 and a low of 1,439.14.

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Gold sees sharp rise amid hopes of US stimulus measures (nationthailand.com)

Gold sees sharp rise amid hopes of US stimulus measures

EconDec 08. 2020

By The Nation

The price of gold surged by Bt350 per baht weight in morning trade on Tuesday after falling by Bt50 per baht weight at close on Monday, the Gold Traders Association reported.

As of 9.21am, the buying price of a gold bar was Bt26,500 per baht weight and selling price Bt26,600 while gold ornaments were priced at Bt26,029.72 and Bt27,100, respectively.

At close on Monday, the buying price of a gold bar was Bt26,150 per baht weight and selling price Bt26,250, while gold ornaments were Bt25,681.04 and Bt26,750, respectively.

Comex gold to be delivered in February next year rose by US$26, or 1.41 per cent, closing at $1,866 (Bt56,226) per ounce on Monday from hopes of fresh US economic stimulus measures.

Hong Kong gold price rose by HK$270 to $17,230 (Bt66,981) per tael, the Chinese Gold and Silver Exchange Society reported.