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https://www.nationthailand.com/business/40014449

The baht opened at 33.65 to the US dollar on Tuesday, weakening from Monday’s close of 33.58.

Krungthai Bank market strategist Poon Panichpibool predicted the Thai currency would move between 33.55 and 33.75 during the day.

Poon expected the baht would continue to swing sideways under pressure from the strengthening dollar after the US Federal Reserve signalled a tightening of monetary policy, as well as demand for safe assets in the short term.

He advised keeping a close watch for possible short-term foreign outflows from Thai stocks. Thai bonds may also be hit by foreign outflows following the rise in US bond yields, he added.

However, moves to sell gold after the price reached its key resistance level of 1,950 dollars per ounce would support the baht and limit any weakening.

Exporters are selling the dollar in a range between 33.70 and 33.80. Poon said the baht would likely not weaken past that point unless the market goes heavily risk-off.

Amid high volatility in the currency market, businesses should use hedging tools such as options to manage risks, he added.

Published : April 12, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014415

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,675 and 1,695 points on Monday amid uncertainty over the US Federal Reserve’s tighter monetary policy to curb inflation, Krungsri Securities said.

It said the Fed’s move to shrink its balance sheet and raise the interest rate had caused a drop in foreign fund flows.

“Meanwhile, the falling crude oil price and lack of progress in Russia-Ukraine peace talks would pressure the index,” Krungsri Securities said.

It recommends the purchase of the following as an investment strategy:

• GPSC, BGRIM, SCGP, SCC and EPG would benefit from the falling oil price.

• AOT, AAV, BA, MINT, CENTEL, ERW, CPN, CRC, HMPRO, CPALL, MAKRO, AMATA and WHA would benefit from countries reopening.

• BDMS, BH, INTUCH, ADVANC, BTS and BEM which can tolerate market volatility.

The SET Index closed at 1,686.00 on Friday, up 3.59 points or 0.21 per cent. Transactions totalled 70.88 billion baht with an index high of 1,690.58 and a low of 1,678.07.

Published : April 11, 2022

By : THE NATION

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https://www.nationthailand.com/business/40014414

The baht opened at 33.58 to the US dollar on Monday, strengthening from Friday’s close of 33.63 and reversing a downward trend.

The Thai currency is expected to move between 33.45 and 33.65 during the day and between 33.30 and 33.80 during the week, Krungthai market strategist Poon Panichpibool said.

Poon advised investors to be aware of volatility over this week’s long Songkran holiday as transactions will be fewer. He expects the baht to swing sideways in the absence of new market factors. However, the Covid-19 situation after Songkran might affect foreign transactions in the short term, he added.

Poon said the baht’s resistance level would be at 33.70 to 33.80, at which point exporters would offload the dollar. Meanwhile, importers are waiting to buy on dips at 33.30.

Amid high volatility in the currency market, businesses should use hedging tools such as options to manage risks, he said.

He added that the dollar might strengthen after the first round of the French presidential election if the market is worried that Emmanuel Macron could lose the second round.

However, any dollar strengthening would be limited if the European Central Bank signalled a tighter monetary policy.

Published : April 11, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40014370

Spurred by growing domestic demand for electric vehicles, manufacturers in Japan and China are set to seek government subsidies to cut EV prices in Thailand, according to a Finance Ministry source.

Toyota is expected to join the Excise Department’s subsidy programme later this month, the source said.

“It will be the first Japanese car manufacturer to take part. This move is expected to prompt other carmakers from Japan and Europe to join so that they can avoid missing out on business opportunities,” the source added.

Chinese automakers Geely, Neta and Changan have also expressed interest in the subsidy programme and are in talks with the Excise Department, according to the source.

Meanwhile, Japanese carmaker Honda will likely postpone its participation until next year as it prepares its EV assembly operation in Thailand, the source said.

The Excise Department is offering subsidies ranging from 70,000-150,000 baht, depending on the size of battery used.

The subsidies are already being applied to cars offered for sale by Chinese brands such as MG, Haval and Ora – both completely knocked down (CKD) and completely built-up (CBU) models. Under the subsidy deal, carmakers can import CKD and CBU units for sale for two years. In the third year, they must make one unit in Thailand for every unit they import. That ratio rises to 1.5:1 in the fourth year.

Failure to meet those terms will be penalised with fines and additional import and excise taxes.

The Excise Department sees signs of increased interest in EVs among Thai consumers, said director-general Lavaron Sangsnit.

He pointed out that 3,000 EVs were reserved at the latest Thailand Motor Show, representing 10 per cent of all bookings made at the expo, which finished on April 3.

“This was a very good sign. We believe the momentum is quickly going in this direction,” he said.

The National Electric Vehicle Policy Committee headed by Energy Minister Supattanapong Punmeechaow will visit Japan early next month for talks with Japanese carmakers about potential investment in EV manufacturing in Thailand, Lavaron said.

Published : April 09, 2022

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https://www.nationthailand.com/business/40014347

Consumer sentiment in March dipped to 42.0, the lowest in six months, because of Omicron worries and the Russia-Ukraine war fallout, the University of the Thai Chamber of Commerce (UTCC) announced on Friday.

UTCC rector Thanawat Polwichai announced at a press conference the results of the survey on sentiment indices compiled by his university’s economy and businesses forecast centre.

Thanawat said the consumer confidence index in March was 1.3 points lower than February’s 43.3, and the confidence index has fallen for three months in a row.

The university explained that an index lower than 100 points showed weak purchasing power because of slow economic recovery.

Thanawat said the key factors that prompted consumer sentiment to fall were people’s worries about the Omicron situation and the fallout from the Russia-Ukraine war.

He said the high infection rates affected the tourism and service sectors, which have not recovered yet. The situation was aggravated by the fallout from the war that had caused oil prices to rise sharply, affecting the cost of goods manufacturing.

Thanawat said the rising oil prices and manufacturing costs had stepped up pressure on the recovery of the global and Thai economies and Thai exports, as a result consumer sentiment had dropped because people’s incomes could not match the rising cost of living.

He said the UTCC expects consumer sentiment to improve in May when the government’s measures to mitigate the people’s cost of living would take effect.

He said the UTCC still maintained its economic growth forecast at 3.5 per cent.

Thanawat said there were good signs that consumer sentiment would rise in the late second quarter because the Centre for Covid-19 Situation Administration has eased travelling restrictions on foreign arrivals since April 1. The CCSA lifted the requirement of an RT-PCR test before departure to Thailand. The relaxation of measures would help the tourism sector to start recovering and becoming a boon to the economy.

He said if the government continues the co-payment subsidy scheme for consumers in June, it would help the economy recover in the late second quarter.

The rector said it is expected that the number of Covid infections would rise to about 50,000 or 100,000 a day after the Songkran holidays, but the UTCC believes the government would not lock down the country again as it would hurt the economy.

He called on the government to relegate Covid-19 to an endemic in June instead of July since most people have already received booster jabs. He said the announcement a month ahead of schedule would help quicker recovery of the Thai economy and it would add about 0.1 or 0.2 per cent to the growth.

But if the government fails to announce Covid-19 as an endemic soon, Thailand’s economic growth would fall by 0.5 per cent, or about Bt70 billion to Bt100 billion.

Thanawat added that the UTCC also found the Thai Chamber of Commerce’s confidence index had dropped to 35.5, the lowest in four months. The index gauges the sentiment of the business sector and chamber members in all provinces.

Published : April 08, 2022

By : THE NATION