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https://www.nationthailand.com/blogs/business/40011332

Finance Minister Arkhom Termpittayapaisith is optimistic the gross domestic product in 2022 would grow at 3.5 to 4 per cent, while inflation would remain in the 1-3 per cent band, despite the increasing prices of goods and energy.

He assured that the government was not ignoring the problem and that the Prime Minister had assigned the Commerce and Agriculture and Cooperatives ministries to closely deal with the issues, especially the price of pigs that have skyrocketed. Meanwhile, oil prices are being closely monitored by the Ministry of Energy and price of diesel fuel has been fixed at no more than 30 baht per litre.

The Bank of Thailand and the Finance Ministry are closely monitoring the situation to keep inflation within the 1-3 per cent range, Arkhom promised. There may be times when inflation is near 3 per cent or maybe a bit beyond the range, but the situation is unclear, depending on commodity and food prices.

He said the export sector had done well in 2021 and is expected to repeat the performance in 2022. Today, the Centre for Covid-19 Situation Administration has resolved to revive the “Test and Go” policy for foreign tourists entering Thailand from February 1. It is believed this move will help the tourism sector recover gradually this year.

However, the Omicron coronavirus variant, labour shortage and inflation remain challenges for 2022, he warned.

Published : January 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011314

Thailand on Thursday achieved “historic” success in exporting 1,000 tonnes of Thai rice to western China’s Chongqing municipality for the first time via the E-san Gateway, the newest railway linking the Laos-China rail system.

Alongkorn Ponlaboot, an adviser to the Agriculture and Cooperatives Ministry, said the rail-transport achievement will expand trade opportunities and generate revenue to farmers, businesses and the country.

He said the achievement came about after cooperation between the Agriculture and Cooperatives Ministry, the Commerce and Foreign Affairs ministries and the agricultural and private sectors.

“We would like to thank Laos and China for their cooperation despite difficulties amid the Covid-19 crisis,” Alongkorn said.

“We will evaluate our rice exports, freight and container booking systems and aim for the same achievement in exporting more agricultural products to other Chinese provinces and other countries as soon as possible.”

Alongkorn Ponlaboot

Alongkorn said it took about two years for the E-san Gateway to officially open on December 3 last year.

He also said the ministry would use the gateway to penetrate markets in Central Asia, East Asia, the Middle East, Russia and Europe with a variety of products such as rubber, fruits, orchids, cassava, oil palm, fishery and livestock.

Alongkorn went on to explain that Chongqing is a hub for transportation as it is located near the New Silk Road and the Yangtze River. The Chinese government has also implemented a policy to link the municipality with Asean countries.

“Apart from being rail and aviation hubs, Chongqing has its Guoyuan Port on the Yangtze and its Shuangfu International Agricultural Trade City for product distribution.”

Alongkorn said Thailand had the largest fruit market share in China last year with an export value of more than 100 billion baht.

He added that Agriculture and Cooperatives Minister Chalermchai Sreeon had ordered related agencies to pay attention to prevention of Covid-19 contamination in products as this would affect exports.

Published : January 20, 2022

By : THE NATION

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https://www.nationthailand.com/business/40011305

The baht hit its lowest point in two months, opening on Thursday at 32.90 to the US dollar, down from Wednesday’s closing of 33.04.

The currency is likely to move between 32.85 and 33.05 to the greenback during the day and even swing sideways unless it is influenced by a new factor, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said the baht would strengthen as investors sell their gold. However, he said it would swing sideways and not strengthen much if there was no supporting transaction from foreign investors or other factors that would help it strengthen.

He said the dollar might advance due to the demand for safe-haven assets.

Moreover, the currency market is volatile so foreign investors might offload more Thai stocks.

Poon also said the baht would see support from sales of gold if the price of the precious metal stayed between 1,830 and 1,840 dollars per ounce.

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The key support level for the Thai currency would be from 32.80 to 32.90 – a level which importers are waiting for so they can purchase dollars. Meanwhile, the baht’s key resistance level would be from 33.20 to 33.30 – a level eyed by exporters so they can offload their dollars, he added.

Published : January 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011304

The Stock Exchange of Thailand (SET) Index would fluctuate between 1,650 and 1,670 points on Thursday, Krungsri Securities predicted.

It said uncertainty over the US Federal Reserve’s move to raise the interest rate to tackle inflation, resulting in a rising 10-year bond yield, is still pressuring the index.

“However, rising oil prices, foreign fund inflows, speculation on shares of companies whose business turnover in 2021 is expected to improve, and signs of oversold stocks would help boost the index,” Krungsri Securities said.

It recommended investors purchase the following companies’ shares:

• PTTEP, Top, PTTGC, IVL and SPRC, which benefit from a rising oil price and gross refining margin.

• BBL, TTB, KBank, KTB and BLA, which benefit from news of an interest rate hike.

• AOT, Mint, Centel, ERW, AAV, which would benefit from the Cabinet’s move to consider implementing the fourth phase of the “Rao Tiew Duay Kan” (We Travel Together) tourism promotion scheme next week.

The SET Index closed at 1,658.24 on Wednesday, down 2.03 points or 0.12 per cent. Transactions totalled 96.18 billion baht, with an index high of 1,667.44 and a low of 1,653.38.

The top five stocks with the highest trade value were KBank, True, PTT, PTTEP and SCB.

Published : January 20, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/blogs/business/40011290

Household debt is likely to hit nearly 90 per cent of gross domestic product in the first half of the year, according to Siam Commercial Bank’s Economic Intelligence Centre (EIC).

The EIC estimates household debt to be in the range of 89.5 to 90.5 per cent of GDP, before gradually decreasing in the second half of the year when the impact of the Omicorn virus variant decreases.

Household loan growth from the banking system in the third quarter slowed down in all major credit categories. However, personal loans continued to expand at a high level based on liquidity demand to offset the steep drop in income.

The problem of non-formal debt in the household sector tends to accelerate from households that need credit to pay for their expenses but have limited access to credit in the system. Most of them are already vulnerable low-income households, the EIC said.

The ratio of household debt to GDP in Thailand is likely to rise again within the first half of 2022. The main risk factor comes from the Omicron virus and how it will affect household income and increase loan demand.

This will challenge the process of repairing the balance sheet of the household sector and slow down the recovery of household finances, which will further affect household spending trends and credit quality, the EIC said.

Therefore, there must be government assistance measures for debt restructuring, income remedies, employment support, and labour reskilling programmes to increase the ability to earn money, including liquidity support measures to prevent informal debt problems, the EIC suggested.

The Bank of Thailand said that Thai household debt, as of the third quarter of 2021, amounted to 14.3 trillion baht, representing a growth rate of 4.2 per cent year on year, decelerating from the previous quarter. Meanwhile, the household debt-to-GDP ratio stood at 89.3 per cent, unchanged from the previous quarter, considered to be a high level.

Published : January 19, 2022

By : THE NATION

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https://www.nationthailand.com/business/40011265

The baht opened at 33.12 to the US dollar on Wednesday, strengthening from Tuesday’s closing rate of 33.09.

The currency is likely to move between 33.05 and 33.20 to the greenback during the day and even swing sideways unless it is influenced by a new factor, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon believed the baht is likely to swing sideways on a strengthening dollar as investors were concerned the US Federal Reserve would increase the interest rate more than expected in March.

Moreover, foreign investors were offloading Thai stocks, further pressuring the baht.

However, hopes of the country reopening fully helped the baht to advance. And if the gold price goes up, the baht might see a further strengthening.

The key support level for the Thai currency would be from 32.90 to 33.00 – a level which importers are waiting for so they can purchase dollars. Meanwhile, the baht’s key resistance level would be from 33.20 to 33.30 – a level eyed by exporters so they can offload their dollars.

Related News

Baht sinks lowest in seven weeks, expected to swing sideways

Baht likely to swing sideways unless new factors surface

Baht strengthens after US inflation rate jumps 7%

Published : January 19, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40011263

Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Wednesday (January 19) would fall to between 1,650 and 1,655 points.

It said uncertainty over the US Federal Reserve’s move to raise the interest rate to tackle inflation has caused the US 10-year bond yield to hit the highest in two years, as well as fund flow volatility. 

“However, mass buy ups of shares which benefit from rising oil prices and hopes over improvement in business turnover would help boost the index,” Krungsri Securities said.   

It also recommended buying of the following companies’ shares as an investment strategy:

• PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
• BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
• AOT, MINT, CENTEL, ERW, AAV, AMATA, WHA HMPRO and CPN, which benefit from the decline in domestic Covid-19 cases.

The SET Index closed at 1,660.27 on Tuesday, down 16.60 points or 0.99 per cent. Transactions were totalled 113.95 billion baht with an index high of 1,682.93 and a low of 1,660.15.

Top five stocks with the highest trade value were KBANK, TCK, GULF, GUNKUL and BBL.

Published : January 19, 2022

By : THE NATION