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https://www.nationthailand.com/business/40000804

SET down as investors worry over possible US interest rate hike

The Stock Exchange of Thailand (SET) Index closed at 1,571.85 on Wednesday, down 7.08 points or 0.45 per cent. The volume of total transactions was THB117.16 billion with an index high of 1,578.34 and a low of 1,557.94.

In the morning session, Krungsri Securities forecast the index on Wednesday would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as countries move to inject stimulus cash, which has triggered worries that the US Federal Reserve will hike the interest rate.

Meanwhile, the SET would be under pressure from the mounting number of Covid-19 cases in Thailand, said Krungsri.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve will help boost the index,” it added.

It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.

The 10 stocks with the highest trade value today were DELTA, TIDLOR, KBANK, SAWAD, KCE, CBG, IRPC, PTT, SCGP and SCB.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 28,147.51, down 461.08 points or 1.61 per cent.

China’s Shanghai SE Composite Index closed at 3,462.75, up 20.91 points or 0.61 per cent, while the Shenzhen SE Component Index closed at 14,064.86, up 98.08 points or 0.70 per cent.

Hong Kong’s Hang Seng Index closed at 28,231.04, up 217.23 points or 0.78 per cent.

South Korea’s KOSPI closed at 3,161.66, down 47.77 points or 1.49 per cent.

Taiwan’s TAIEX Index closed at 15,902.37, down 680.76 points or 4.11 per cent.

Published : May 12, 2021

By : The Nation

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https://www.nationthailand.com/business/40000792

SET Index expected to fluctuate today amid high Covid-19 numbers, inflation

The Stock Exchange of Thailand (SET) Index fell by 12.55 points or 0.79 per cent to 1,566.38 at 10.21am on Wednesday. The volume of transactions was THB20.74 billion with an index high of 1,577.16 points and a low of 1,565.95.

Krungsri Securities predicted the index would fluctuate between 1,570 and 1,590 points amid concern over rising inflation as many countries moved to inject cash in a bid to stimulate the economy, triggering worries about whether the US Federal Reserve would raise the interest rate or not.

It said the index would be under pressure due to the higher number of Covid-19 cases in Thailand.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.

It advised investors to follow the US Consumer Price Index in April as this could trigger the Fed to raise the interest rate.

It recommended investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, Com7, Synex, TWPC and Wice, whose first-quarter turnover is expected to improve.

The SET Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 points and a low of 1,566.91.

Published : May 12, 2021

By : The Nation

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https://www.nationthailand.com/business/40000789

Up to 80% of SMEs hit by lack of liquidity, 100,000 may close for good if Covid crisis persists

About 70 to 80 per cent of small to medium-sized enterprises (SMEs) are suffering from a lack of liquidity since the third Covid-19 wave hit Thailand in late March and 100,000 could close for good, warned Saengchai Theerakulwanich, president of the Federation of Thai SMEs, calling for urgent government help.

“The federation estimates that about 2.7 million small businesses and 400,000 medium enterprises are having trouble keeping their businesses afloat,” he said.

“If the Covid-19 situation persists for another 2-3 months with no signs of recovery, more than 100,000 SMEs might have to shut down for good.”

Saengchai said the government needs to provide soft loans of at least THB250 billion to help SME operators.

“The loans should target primarily small and medium businesses with maximised accessibility to make sure those in need can get financial aid without obstacles,” he said.

“If the loans have too many restrictions, only strong entrepreneurs who do not really need them will be able to get them,” he warned.

“Besides providing new loans to SMEs, financial institutes must offer debt moratoriums and grace periods on interest for existing loans previously taken by entrepreneurs,” Saengchai said.

“This is to make sure these operators can stay afloat long enough for the economy to recover and they can then make a profit to pay off their debts,” he added.

Published : May 12, 2021

By : THE NATION

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https://www.nationthailand.com/business/40000788

Gold static in morning trade with eye on US inflation

The price of gold in Thailand was unchanged from Tuesday’s close in morning trade on Wednesday due to a rise in the US bond yield. The market is keeping an eye on US inflation in the hope of predicting the Federal Reserve’s move on monetary policy.

AGold Traders Association report at 9.27am showed the buying price of a gold bar at THB26,950 per baht weight and selling price at THB27,050, while gold ornaments were priced at THB26,469.36 and THB27,550, respectively.

The price had risen by THB50 per baht weight compared to the opening trade on Tuesday.

The spot gold price on Wednesday was US$1,836 (THB57,321) per ounce compared to the price on Tuesday, when it dropped by $1.50 to $1,836.10 per ounce.

The Hong Kong gold price on Wednesday dropped by HK$10 to $16,980 (THB68,261) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 12, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000787

Baht could weaken today

The baht opened at 31.17 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 31.10.

The Thai currency is likely to move between 31.15 and 31.25 during the day, Krungthai Bank market strategist Poon Panichpibool said.

He said the baht tended to move in a predictable range, as the direction of the dollar was not clear at this time. The baht would weaken during the day in case foreign investors continued selling Thai stocks, he added.

However, the baht will not weaken sharply, as exporters aimed to sell the dollar when the baht moves near 31.20 to 31.30, Poon said.

He added that the important resistance level of the Thai currency was at 31.00.

Published : May 12, 2021

By : The Nation

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https://www.nationthailand.com/business/40000763

SET loses ground as virus cases sap Thai index

The Stock Exchange of Thailand (SET) Index closed at 1,578.93 on Tuesday, down 9.22 points or 0.58 per cent. The volume of total transactions was THB102.35 billion with an index high of 1,590.54 and a low of 1,566.91.

In the morning session, Krungsri Securities forecast that the SET Index would fluctuate between 1,560 and 1,575 points amid lack of positive sentiment.

It also predicted Thai stocks would be under pressure from worries over the outflow of foreign funds and mounting Covid-19 cases in Thailand.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.

The 10 stocks with the highest trade value today were TIDLOR, DELTA, KBANK, TU, BANPU, PTT, CPF, BDMS, MTC and SCC.

Other Asian indices were on the fall, except those in China:

Japan’s Nikkei Index closed at 28,608.59, down 909.75 points or 3.08 per cent.

China’s Shanghai SE Composite Index closed at 3,441.85, up 13.85 points or 0.40 per cent, while the Shenzhen SE Component Index closed at 13,966.78, up 48.82 points or 0.35 per cent.

Hong Kong’s Hang Seng Index closed at 28,013.81, down 581.85 points or 2.03 per cent.

South Korea’s KOSPI closed at 3,209.43, down 39.87 points or 1.23 per cent.

Taiwan’s TAIEX Index closed at 16,583.13, down 652.48 points or 3.79 per cent.

Published : May 11, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000756

Online platform boosts sale of durian to China

Export of durian to China has spiked thanks to an online booking platform set up by the Agriculture and Cooperatives Ministry.

Alongkorn Ponlaboot, an adviser to the ministry, said that though it took nine hours to sell the first lot of 20 tonnes of durian, the second lot of 25 tonnes was snapped up in 45 minutes via the platform.

He said the project was a cooperation between the Agriculture and Cooperatives and Commerce Ministries as well as agricultural cooperatives.

“Farmers and cooperatives will now be able to sell durian at a higher price thanks to the platform, which allows farmers to access buyers directly,” he said.

Online platform boosts sale of durian to China

Alongkorn added that Agriculture and Cooperatives Minister Chalermchai Sri-on has instructed officials to expand sales to cover other agricultural products.

Online platform boosts sale of durian to China

“The Chinese public and businesses are excited as they now have the opportunity to directly buy durian imported from Chanthaburi,” he added.

Published : May 11, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000751

Baht expected to fluctuate in the range of 31 to 31.30 to the dollar

The baht opened at 31.09 to the US dollar on Tuesday, unchanged from Mondays closing rate. The Thai currency is likely to move between 31.05 and 31.20 during the day, Krungthai Bank market strategist Poon Panichpibool said.

He predicted that the baht would move to 31 to the dollar with resistance.

Meanwhile, several companies are purchasing foreign currencies for paying dividend. During the rest of this month, dividend payments would total around THB18 billion, the market strategist added.

If the market remained in a risk-off state, he forecast that the Thai currency would move between 31 and 31.30 per US dollar.

Poon said that the baht would tend to weaken or fluctuate due to the Covid-19 situation in Thailand.

Foreign investors have continually sold Thai stocks, in volumes higher than bonds sold by other investors.

Published : May 11, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000750

Thai stocks sluggish amid lack of positive sentiment

The Stock Exchange of Thailand (SET) Index fell by 1.87 points, or 0.12 per cent, to 1,586.28 on Tuesday morning. The volume of total transactions was THB16.48 billion with an index high of 1,586.82 and a low of 1,578.43.

Krungsri Securities forecast that the SET Index would fluctuate between 1,560 and 1,575 points amid insufficient positive sentiment.

Meanwhile, it predicted that the index would be under pressure from worries over the outflow of foreign funds and increasing Covid-19 cases in Thailand.

“However, mass buy-ups of stocks that gain positive sentiment and whose first-quarter performance is likely to improve would help boost the index,” Krungsri Securities said.

It recommended that investors buy:

▪︎ PTT, PTTEP, PTTGC and IVL, which benefit from the rising oil price.

▪︎ PSL, TTA and RCL, which would benefit from a rise in the freight rate.

▪︎ PTTGC, EPG, CPF, BCH, CHG, STGT, STA, DOHOME, COM7, SYNEX, STARK, TWPC and WICE, whose first-quarter turnover was expected to improve.

The SET Index closed at 1,588.15 on Monday, up 3.12 points or 0.20 per cent. Total transactions amounted to THB111.86 billion with an index high of 1,596.80 and a low of 1,576.79.

Published : May 11, 2021

By : The Nation

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40000749

Thai gold shrugs off successive days of gains in spot price.

The price of gold in Thailand was unchanged in morning trade on Tuesday from Monday close despite spot gold seeing four days of gains over the weakening dollar and the decline in US bond yield.

The Gold Traders Association report at 9.29am showed buying price of a gold bar at THB26,900 per baht weight and selling price at THB27,000, while gold ornaments were priced at THB26,408.72 and THB27,500, respectively.

The price had risen by THB50 per baht weight compared to the opening on Monday.

Spot gold on Tuesday was US$1,836 (THB57,080) per ounce compared to Monday when it rose by $6.3 to $1,837.60 per ounce.

Hong Kong gold price on Tuesday dropped by HK$30 to $16,980 (THB67,973) per tael, the Chinese Gold and Silver Exchange Society reported.

Published : May 11, 2021

By : The Nation