Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Tuesday (December 21) would fluctuate between 1,605-1,625 points.
It said investors are still worried about the outbreak of Omicron Covid-19 variant in Europe and US. Meanwhile, it is expected that many countries would impose measures to deal with the virus, resulting in impact on economic recovery.
In addition, the index would be under pressure due to falling oil prices, it added.
“However, mass buy-ups of stocks which gained specific positive sentiment would help boost the index,” Krungsri Securities said.
It also recommended buying of the following companies’ shares as an investment strategy: ▪︎ COM7, SYNEX, BCH, CHG, MEGA, SMD, WINMED, XO and STGT, which benefit from Covid-19 outbreak. ▪︎ RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate. ▪︎ EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government’s support on electric vehicles.
Investor sentiment sagged as concern about President Joe Bidens economic agenda and the omicron coronavirus surge dragged down stocks. Traders said lower volume ahead of the holidays exacerbated market moves.
The S&P 500 had its biggest three-day drop since September, led by losses in financial and material shares. Bonds fell. The dollar was little changed.
“There’s kind of two dynamics going on. Probably the most important one is the imminent reduction in liquidity,” said Jay Hatfield,CEO at Infrastructure Capital Management. “On top of that, you have the omicron concern.”
Goldman Sachs economists cut their U.S. growth forecasts after Democratic Senator Joe Manchin blindsided the White House by rejecting Biden’s roughly $2 trillion tax-and-spending package. Meanwhile, Europe’s biggest nations weighed more Covid-19 restrictions.
Stocks:
–The S&P 500 fell 1.1% as of 4 p.m. New York time
–The Nasdaq 100 fell 1.1%
–The Dow Jones Industrial Average fell 1.2%
–The MSCI World index fell 1.4%
Currencies:
–The Bloomberg Dollar Spot Index was little changed
–The euro rose 0.3% to $1.1278
–The British pound fell 0.3% to $1.3209
–The Japanese yen was little changed at 113.67 per dollar
Bonds:
–The yield on 10-year Treasuries advanced two basis points to 1.42%
–Germany’s 10-year yield advanced one basis point to -0.37%
–Britain’s 10-year yield advanced one basis point to 0.77%
Commodities:
–West Texas Intermediate crude fell 3.7% to $68.23 a barrel
Thailand’s export industry has shown continuous growth for the first 11 months of this year, with revenue rising by 16.4 per cent at US$246.243 billion.
Imports, meanwhile, came in at $242.32 billion marking a rise of 29.4 per cent.
Commerce Minister Jurin Laksanawisit said on Monday that exports in November alone came in at $23.647 billion, marking a 24.7 per cent increase, while imports stood at $22.63 billion, up by 20.5 per cent.
The minister put these positive figures down to the recovery of key trading partners like the US and the easing of lockdown measures in Europe.
He also said the improvement in the export sector has subsequently increased employment levels.
However, Jurin added that the Omicron variant may cast a pall on global trade, though the ministry is still confident Thailand will meet its export growth target of 15 per cent.
The Stock Exchange of Thailand (SET) Index closed at 1,615.80 on Monday, down 25.93 points or 1.58 per cent. Transactions totalled 82.35 billion baht with an index high of 1,633.80 and a low of 1,612.96.
The index fell for the second consecutive day after dropping by 3.59 points or 0.22 per cent on Friday.
The 10 stocks with the highest trade value today were EA, KBANK, SCB, CPALL, JMT, GPSC, ADVANC, PTT, JMART and AOT.
Other Asian indices were on the fall:
Japan’s Nikkei Index closed at 27,937.81, down 607.87 points or 2.13 per cent.
China’s Shanghai SE Composite closed at 3,593.60, down 38.76 points or 1.07 per cent, while the Shenzhen SE Component closed at 14,569.18, down 298.37 points or 2.01 per cent.
Hong Kong’s Hang Seng Index closed at 22,744.86, down 447.77 points or 1.93 per cent.
South Korea’s KOSPI Index closed at 2,963.00, down 54.73 points or 1.81 per cent.
Taiwan’s TAIEX Index closed at 17,669.11, down 143.48 points or 0.81 per cent.
The baht opened at 33.37 to the US dollar on Monday, weakening from the previous closing of 33.35.
The Thai currency is likely to move between 33.30 and 33.45 during the day and between 33.25 and 33.50 during the week, Krungthai Bank market strategist Poon Panichpibool predicted.
Poon said that the baht might strengthen if the Monetary Policy Committee speculated that the Thai economy will get better and the gold price increase.
The baht might swing sideways or slightly strengthen if the currency market has no clear movement at the end of the year.
The key support level for the baht would be at 33.3 to the dollar, which is the level at which importers are waiting to buy the dollar. Meanwhile, exporters are waiting to sell the dollar when the baht reaches 33.5 to the dollar.
Poon added that the dollar might swing sideways as the currency market has no clear movement at the end of the year which is the week before the Christmas holiday. The market also knew all monetary policies from central banks.
Moreover, he said the dollar will be supported by the need for safe-haven assets if the market is in a risk-off state.
The previous week, the currency market was volatile and pressured by the tight monetary policies from central banks especially the US Federal Reserve that is preparing to increase the policy three times next year.
Poon suggests monitoring the Monetary Policy Committee’s meeting which might increase the policy interest rate and speculate that the Thai economic recovery will be better.
The price of gold rose by THB100 in morning trade on Monday.
AGold Traders Association report at 9.26am said the buying price of a gold bar was THB28,450 per baht weight and selling price THB28,550, while the buying and selling price of gold ornaments is THB27,939.88 and THB29,050, respectively.
At close on Saturday, the buying price of a gold bar was THB28,350 per baht weight and selling price THB28,450, while gold ornaments were THB27,833.76 and THB28,950, respectively.
The spot gold price on Monday morning hovered around US$1,801 (THB60,351) per ounce after Comex gold at close on Friday rose by $6.7, breaking the $1,800 level, to $1,804.9 per ounce due to support from buying gold as a safe-haven asset amid concerns over the impact of Omicron Covid-19 virus spread.
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Monday (December 20) would fall to between 1,625-1,630 points.
It said the index is currently under pressure due to uncertainty over the outbreak of Omicron Covid-19 variant in Europe after the Netherlands imposed lockdown to curb the virus.
Meanwhile, central banks’ move to raise the interest rate to deal with higher inflation and news of stock trading tariff would also pressure the index, it added.
It also recommended buying of the following companies’ shares as an investment strategy: ▪︎ COM7, SYNEX, BCH, CHG, MEGA, XO, TU and STGT, which benefit from Covid-19 outbreak. ▪︎ RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate. ▪︎ EA, GPSC, AMATA, WHA, AH and SAT, which benefit from the government’s support on electric vehicles.
High inflation rates arent bad news for everyone. They can be helpful for debtors — which in todays world economy means almost everybody.
In the second quarter of this year, measures of household and business debt as a share of economic output saw some of the steepest drops on record in several advanced economies, according to data published last week by the Bank for International Settlements.
That’s not because consumers and companies were borrowing less, in dollars, euros or pounds — which is what happened in the drawn-out recession that followed the 2008 crisis. In fact, they’re borrowing more. It’s just that the combination of rapid post-lockdown growth and accelerating inflation meant that their liabilities shrank by comparison with the overall size of the economy as it’s measured in those same currencies.
To be sure, declines over one or two quarters don’t make much of a dent in overall debt burdens that soared earlier in the pandemic, as central banks extended credit safety-nets to business, while mortgage lending took off amid a housing boom.
Almost every kind of debt remains larger, as a share of the economy, than it was at the start of 2020, and well above historical norms.
The U.S. corporate borrowing spree, in particular, has raised some red flags — and while companies overall are posting fat pandemic profits, aggregate numbers don’t tell the whole story: the businesses with debt problems may not be the ones that are raking in the cash. Higher interest rates — the coming antidote to inflation — will make debt-servicing harder.
Still, the data are a reminder that rising prices can have some beneficial side effects — which is one reason why central banks spent the decade before Covid-19 trying to engineer higher inflation rates, even if they’re now pivoting in the opposite direction after a bigger-than-expected spike.
What About Governments?
The BIS numbers show a drop in ratios of government debt to GDP in the most recent quarter, too. That’s been the fastest-growing type of borrowing in the pandemic, just as it’s been ever since the 2008 crash.
Public debt may be less of a worry though, because in the developed world it’s generally proved to be less combustible than the private kind.
Debt crises in advanced economies over recent decades haven’t been the result of governments borrowing too much in their own currencies, liabilities they can always meet. Instead, they’ve been triggered by high levels of private debt — like the bursting of Japan’s corporate credit bubble in the 1990s, and the U.S. mortgage meltdown the following decade — or public debt in countries that don’t issue their own currency, such as Greece.
With most economists expecting relatively high rates of inflation, and strong growth in real output, to continue into 2022, the erosion of debt burdens may have further to go.
But in the U.S., at least. it will require an extended period of rising pay for workers, especially lower down the income ladder, to reflate the economy in a way that can ease debt burdens for households, says Daniel Alpert, a founding managing partner at Westwood Capital. He’s skeptical that will happen.
Alpert, the author of a recent paper titled “Inflation in the 21st Century,” says high debt levels for ordinary Americans are the result of decades in which income shifted from labor to capital. “What’s going to drive the longer, sustained type of inflation you really need to lessen the burden on households?” he says. “The answer is sustained wage improvement, which I don’t think we’re going to get.”
Singha Sodas collaboration with Dry Clean Only, a Thai fashion house recognized worldwide, wants to extend our role as “the best mixer” in our consumers lives by integrating Singha Sodas brand logo with Dry Clean Onlys vintage style.
“Singha Soda” joins hands with Thai fashion powerhouse Dry Clean Only, unveiling a new limited-edition fashion collection for the “SINGHA SODA X DRY CLEAN ONLY THE INFINITE MIX COLLECTION” campaign. Jackets, sweaters, and t-shirts launched are uniquely designed and are one kind that is Dry Clean Only’s signature. The collection will be available worldwide this 20th December via https://singhasodacollection.com, marking the brand’s another iconic movement to remember.
Mr. Titiporn Thammapimookkul, Chief Marketing Officer – Brand of the Boonrawd Trading Co., Ltd., unveils that “Singha Soda is a brand with a long history with the Thai public. We believe in the power of creativity and inspiration and aim to constantly improve our brand with new activities that have never been done before.
Singha Soda’s collaboration with Dry Clean Only, a Thai fashion house recognized worldwide, wants to extend our role as “the best mixer” in our consumers’ lives by integrating Singha Soda’s brand logo with Dry Clean Only’s vintage style. The result is a unique and limited collection consisting of t-shirts, jackets, and sweaters, each with its unique design in terms of patterns, colors, and sizes. Everyone who purchased this Dry Clean Only collection is guaranteed a sole owner of that item.”
Mr. Patipat Chaipukdee, founder of Dry Clean Only, says, “My love for the fashion industry has driven me to make the Dry Clean Only brand recognized everywhere. We have moved from a Thai brand doing business in international markets into a worldwide fashion force known and loved worldwide. Our collaboration with Singha Soda for this collection is an honor, merging different ideas from the two brands and creating an entirely new collection. This project will shake the fashion industry and get everyone excited about owning a fashion piece to wear or keep.”
Singha Soda aims to create exciting experiences between the brand and our consumers with our motto “be different anywhere.” The brand’s past projects have driven the soda market and has created a positive wave for the society, such as “From Home With Love,” a special song during the lockdown restrictions, bringing artists and DJs to create the Mix Infinity Playlist with ASMR to induce relaxation and productivity, collaborating with a world-class artist, Mister Cartoon, in a limited edition label design to break into the international market. The collaboration with Dry Clean Only, a Thai brand worn by worldwide artists and celebrities such as Beyoncé and Rihanna, resonates with the brand’s mission to create new and exciting initiatives. Consumers can purchase this special collection through https://singhasodacollection.com, available worldwide from 20th December onwards.
Rehabilitate stroke patients according to PNKG Recovery Center’s way
Stroke is one of the silent threats that is closer to us than everyone previously believed. Many think that stroke has a low chance of occurring and will never happen to themselves one day. When a stroke happens, it has its important time period called “Golden Period” where if the patient receives treatment and rehabilitation promptly, the chance of fast recovery will be high, and the chance of complications will be low.
Mr. Yuki Furuya, the director of PNKG Recovery Center in Principal Healthcare Company Group or PRINC Health, explains about the rehabilitation in patients with stroke, using Kaigo-Do style or the Japanese way of recovery, that has been modified to be used in rehabilitation patients especially in group of stroke patients in Thailand
About Kaigo-do style of treatment, it is a method to recover the mind and the body of the patient based on the Japanese way, that is to allow the patient to learn to help themselves under a close supervision of a trained caregiver as much as possible, and only render assistance to the patients only in activities that they cannot do, until they are ready to re-learn or improve enough to do it themselves eventually.
Mr. Furuya explains further that, the PNKG Recovery Center gives importance to the foundation of the patient-family relationship along with the rehabilitation and treating individual patients. The treatment begins with assessment of patient-family relationship and readiness, designs the rehabilitation program with the healthcare professionals from various specialties, including but not limited to physiotherapist, occupational therapist, nutritionist, doctor, nurse, psychologist among others. A patient typically receives the treatment from the center between 3 weeks to 3 months or longer, even up to 6 months to 1 year, depending on the rate of recovery, the baseline patient’s condition and the expected goal.
Our personalized care plan focuses on the key 5 factors:
1. Hydration Maintaining the TDS level of water for a day
2. Exercise Practicing at least 2 km walking everyday
3. Nutrition Providing 5 main food groups recommended by nutritionist
4. Defecation Helping induce a bowel movement
5. Medication Reduction Practicing the way of Kaikodo by our Japanese specialists (Intensive Personalized Care Plan)
Mr. Furuya adds that the “Personalized Care Plan” is the key to success. With collaboration of experts including a specialized doctor, physical therapist, nutritionist and also the family of the patient, we try putting the big smile on your face once again.
Home Evaluation is another service which we inspect and redecorate the house to be aligned with our rehabilitation plan. Equipment and the installment are also included.
A stroke is a serious life-threatening medical condition that happens when the blood supply to part of the brain is cut off. Strokes are a medical emergency and urgent treatment is essential. The sooner a person receives treatment for a stroke, the less damage is likely to happen.
For more information on stroke, please join the seminar under the topic “Soul Mind and Soul Body for Stroke Patients” by PNKG Recovery center on Saturday 18th December, 2021 from 09.45-11.30 am.
For registration, please follow the link here: https://booking.princhealth.com/PSUV-strokeweek narrated by Wuttikorn Punprasit, M.D., Neurology Specialist and Experts from PNKG Recovery Center under Principal Healthcare
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