#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403872

Stocks slump amid inflation concern

EconMar 19. 2021

By Syndication Washington Post, Bloomberg · Claire Ballentine, Vildana Hajric

Stocks fell from record highs, oil slumped and Treasury yields touched some of the highest levels in more than a year amid concern the Federal Reserve risks letting inflation accelerate.

The rout in risk assets picked up in the afternoon, starting with a sell-off in crude. Oil plunged 8% on concern new restrictions in Europe will hamper demand. Two weeks ago it soared past $65 a barrel to the highest in almost two years.

The spike in Treasury yields dented demand for tech shares with high valuations, sending the Nasdaq 100 Index tumbling 3.1%. Swings in asset prices also picked up as they often do around major expirations of options and futures contracts, such as tomorrow’s ‘quadruple witching’ event.

“We’re seeing a pattern where an uncomfortable spike in the 10-year Treasury reminds equity investors that their tech stocks are trading well above average,” said Mike Bailey, director of research at FBB Capital Partners.

Ten-year Treasury yields climbed to 1.75% for the first time since January 2020, while the 30-year breached 2.5% for the first time since August 2019 in the wake of Wednesday’s Federal Reserve meeting. Fed Chairman Jerome Powell’s apparent willingness to keep pumping support into the economy and let it run hotter has spurred bets on faster growth and inflation, sending market expectations of price pressures to multi-year highs.

Oil plunged as vaccination efforts in some parts of the world stalled, casting uncertainty over the speed of an economic recovery and a full rebound in global oil demand. West Texas Intermediate crude futures declined for a fifth session, the longest stretch of daily losses in more than a year.

U.S. curve climbed on the Fed’s assurance of support

Read: Treasury Yields Top 1.75% After Powell Spurs Bets on Inflation

In Asia and Europe, stocks were boosted by lingering enthusiasm from the Fed’s outlook for stronger growth. Automakers and banks, which tend to outperform during cyclical upswings, were higher in Europe. Japan’s Topix jumped past the 2,000 mark for the first time since 1991, becoming the region’s top-performing major equity index this year.

Japan’s government bond yields rose on a Nikkei report that the Bank of Japan is considering widening the trading range around the 10-year target, which could spur concerns about policy tightening.

These are some of the moves in markets:

Stocks

The S&P 500 Index sank 1.5% to 3,915.50 as of 4:02 p.m. EDT, the lowest in more than a week on the largest tumble in three weeks.

The Dow Jones industrial average sank 0.5% to 32,862.37, the biggest dip in two weeks.

The Nasdaq Composite Index sank 3% to 13,116.17, the lowest in more than a week on the largest tumble in three weeks.

The Nasdaq 100 Index sank 3.1% to 12,789.14, the lowest in more than a week on the biggest tumble in three weeks.

The Stoxx Europe 600 Index rose 0.4% to 426.59.

Currencies

The Bloomberg Dollar Spot Index rose 0.5% to 1,139.39, the biggest advance in more than a week.

The euro fell 0.5% to $1.1915, the largest fall in more than a week.

The British pound fell 0.3% to $1.3928.

South Africa’s rand weakened 0.9% to 14.7799 per dollar, the largest fall in more than a week.

Bonds

The yield on two-year Treasurys gained two basis points to 0.16%, the highest in more than a week on the biggest advance in more than a week.

The yield on 10-year Treasurys jumped eight basis points to 1.72%, the highest in about 14 months.

The yield on 30-year Treasurys gained five basis points to 2.47%, the highest in almost 20 months.

Germany’s 10-year yield climbed three basis points to -0.26%, the highest in almost three weeks.

Britain’s 10-year yield increased five basis points to 0.875%, the highest in more than 21 months.

Commodities

West Texas Intermediate crude sank 8% to $59.41 a barrel, hitting the lowest in almost four weeks with its fifth straight decline and the largest tumble in 11 months.

Gold weakened 0.6% to $1,734.60 an ounce, the biggest fall in more than a week.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403862

SET nudges up on Fed news

EconMar 18. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,568.82 on Thursday, up 2.06 points or 0.13 per cent. Total transactions amounted to Bt81 billion with an index high of 1,583.30 and a low of 1,567.67.

In the morning session, a Krungsri Securities analyst expected the day’s index to hit a resistance line between 1,575 and 1,580 points after the US Federal Reserve signalled it would maintain a low interest rate of 0.25 per cent and retain quantitative easing (bond-buying stimulus) to maximise employment.

“However, investors should beware of mass sell-offs of Thai shares in response to the FTSE’s move to rebalance Thai shares from 2.3 per cent to 2.25 per cent. The rebalance will take effect on Friday [March 19],” said Krungsri Securities.

The 10 stocks with the highest trade value today were OR, KBANK, STA, PTT, GUNKUL, BBL, IRPC, ICHI, IVL and CPF.

Other Asian indices responded to the Fed news with stronger rises than the SET: Japan’s Nikkei Index closed at 30,216.75, up 302.42 points or 1.01 per cent.

China’s Shang Hai SE Composite Index closed at 3,463.07, up 17.52 points or 0.51 per cent, while Shenzhen SE Component Index closed at 13,963.92, up 154.16 points or 1.12 per cent.

Hong Kong’s Hang Seng Index closed at 29,405.72, up 371.60 points or 1.28 per cent.

South Korea’s KOSPI Index closed at 3,066.01, up 18.51 points or 0.61 per cent.

Taiwan’s TAIEX Index closed at 16,287.84, up 72.02 points or 0.44 per cent.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403846

SET gains as Fed signals it will maintain rate

EconMar 18. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 14.56 points or 0.93 per cent to 1,581.32 in the morning session on Thursday.

A Krungsri Securities analyst expected the index to hit the resistance line between 1,575 and 1,580 points in response to US Federal Reserve signals that it would maintain the interest rate at a low 0.25 per cent and continue using quantitative easing.

The Fed also signalled that it would maintain the rate until it reached its goal to maximise employment and see price stability, expecting the US gross domestic product to rise this year.

“However, investors should beware of mass sell-offs of Thai shares in response to the FTSE’s move to rebalance Thai shares from 2.3 per cent to 2.25 per cent. The rebalance will be effective on Friday [March 19],” he said.

He recommended investors buy:

▪︎ AOT, Mint, Centel, AAV, BA, CPN, CRC and Major, which benefit from positive news of a Covid-19 vaccine in Thailand.

▪︎ Hana, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ CBG, Ichi, Sappe, RBF, DOD, IP, TACC, Gunkul and Kiss, which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,566.76 on Wednesday, up 2.73 points or 0.17 per cent. The volume of total transactions was Bt92.17 billion, with an index high of 1,571.53 points and a low of 1,559.22.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403842

Gold price surges on Fed signal of low interest rate

EconMar 18. 2021

By The Nation

The price of gold rose by Bt200 per baht weight in morning trade on Thursday, the Gold Traders Association reported.

As of 9.40am, the buying price of a gold bar was Bt25,400 per baht weight and selling price Bt25,500 while gold ornaments cost Bt24,938.20 and Bt26,000, respectively.

At close on Wednesday, the buying price of a gold bar was Bt25,200 per baht weight and selling price Bt25,300 while gold ornaments cost Bt24,741.12 and Bt25,800, respectively.

The spot gold price moved to US$1,752 (Bt53,831) per ounce after falling by $3.80 to $1,727.10 on Wednesday due to the rise in the US bond yield before the results of a key US Federal Reserve meeting were to be announced. The gold price surged after the Fed signalled it would maintain the interest rate at a low level until 2023.

The Hong Kong gold price meanwhile rose by HK$130 to $16,200 (Bt64,105) per tael, the Chinese Gold and Silver Exchange Society reported.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403829

Bidders running up the price of bitcoin in government auction

EconMar 18. 2021

By The Washington Post · Hamza Shaban

Twenty-seven bidders are outdoing one another in a scramble to claim a fraction of a bitcoin, sending the price well above market rates in a first-of-its kind auction at the General Services Administration.

Officials at the federal agency placed a 0.7501 share of a bitcoin on the auction block for a two-day bidding event this week, marking the first time the GSA – which typically offers up surplus government vehicles and office supplies – has allowed the public to place bids on cryptocurrency.

With just hours remaining in the auction, the highest bid would claim the bitcoin share at $48,755. That’s about 13% higher than the market value, meaning the government auction is set to generate a significant premium, so long as the price of bitcoin does not suddenly spike before Wednesday evening.

Bidders have one-upped themselves throughout the auction. The GSA’s bidding history shows that the auction participants – who are not identified – have raised the top bid by more than $5,000 since Monday, in increments ranging from $5 to $600. The financial battle to win the bitcoin slice has outpaced the broader market, where the price of bitcoin has fallen slightly since the start of the week.

The auction comes amid an extraordinary rally in cryptocurrency markets, and as bitcoin recently surpassed $60,000 for the first time. Bitcoin’s value has climbed 90% since the start of the year, riding a staggering comeback from the lows of last spring, when investors rushed to sell during the early weeks of the pandemic.

Experts say the recent bitcoin surge is driven in part by investors seeking protection from inflation and as an alternative store of value. “People buy it outright as an investment, but increasingly it’s also being bought in order to diversify traditional portfolios,” said Shane Edwards, global head of investment products at Diginex, a digital asset financial services company.

While the cryptocurrency bidding event is a first for the GSA, the U.S. Marshals Service has been auctioning bitcoin since 2014, following the FBI’s crackdown on the digital black market Silk Road, seizing more than 170,000 bitcoin. The law enforcement agency has administrated a total of nine bitcoin auctions.

The GSA declined to share where its bitcoin fraction came from, citing privacy concerns. Items up for GSA auctions can come from a range of sources, the agency said, including seized property.

The winner of the auction must send the full payment by Friday, through a wire transfer, and needs to have a digital wallet to receive the piece of bitcoin.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403827

Stocks gain, yields pare rise as Fed stands pat

EconMar 18. 2021

By Syndication Washington Post, Bloomberg · Olivia Raimonde, Lu Wang

Stocks rose to record highs and yields on longer-maturity U.S. debt retreated from more than one-year highs after the Federal Reserve continued to project near-zero interest rates at least through 2023 despite rising inflation concerns.

The yield on the benchmark 10-year note retreated from its highs of the day as Fed Chairman Jerome Powell reiterated that the central bank wants to see inflation moderately above 2%. and said the recent move higher in yields wasn’t disorderly. The S&P 500 pushed higher to the highest level on record, led by the consumer discretionary, industrial and materials sectors.

“It seems like the inflation bulls are starting to gain momentum, with more votes for a rate hike in 2023,” said Mike Bailey, director of research at FBB Capital Partners. “But overall a big sigh of relief for equities since interest rates are still likely to remain near zero for an extended period, despite the massive double stimulus from the Fed and Congress.”

Expectations of a strong recovery from the covid-19 slump put an intense focus on Fed officials’ projections for interest rates displayed in their “dot plot.”

Seven of 18 officials predicted higher rates by the end of 2023 compared with five of 17 at the December meeting, showing a slightly larger group who see an earlier start than peers to the withdrawal of ultra-easy monetary policy, according to the FOMC’s quarterly economic projections also issued Wednesday.

“The Fed was dovish relative to some fears of ‘hawkish dots’, but since we didn’t get that ‘hawkish’ outcome, stocks are having a relief move,” said Dennis DeBusschere, head of portfolio strategy at Evercore ISI. “Bottom line, the inflation/growth forecasts the Fed has along with no rate hikes for three years is a positive backdrop for risk assets.”

The yield on 30-year Treasurys had spiked to a level unseen since 2019 and the 10-year hit 1.69%. Market-implied inflation expectations were at 12-year highs. The dollar weakened versus most major peers.

Elsewhere, the Stoxx Europe 600 Index fell, and South Korean stocks retreated as Samsung Electronics Co. warned it’s grappling with the fallout from a “serious imbalance” in semiconductors globally.

WTI crude oil was little changed with the International Energy Agency saying markets aren’t on the verge of a new price supercycle. Bitcoin climbed off the lows of the day back toward the weekend record of above $61,000.

These are the main moves in markets:

Stocks

The S&P 500 Index gained 0.3% to 3,974.16 as of 4:01 p.m. EDT, the highest on record.

The Dow Jones industrial average jumped 0.6% to 33,016.16, the highest on record.

The Nasdaq Composite Index climbed 0.4% to 13,525.20, the highest in more than two weeks.

The Nasdaq 100 Index advanced 0.4% to 13,202.38, the highest in more than two weeks.

The Stoxx Europe 600 Index declined 0.4% to 424.91, the largest drop in more than a week.

Currencies

The Bloomberg Dollar Spot Index fell 0.5% to 1,134.14, the lowest in more than two weeks.

The euro jumped 0.6% to $1.1976, the largest climb in almost six weeks.

The British pound jumped 0.5% to $1.3963, the biggest increase in almost four weeks.

The Japanese yen strengthened 0.1% to 108.89 per dollar.

Bonds

The yield on two-year Treasurys dipped one basis point to 0.14%, the lowest in more than two weeks on the biggest dip in almost three weeks.

The yield on 10-year Treasurys advanced two basis points to 1.64%, the highest in more than 13 months.

The yield on 30-year Treasurys climbed three basis points to 2.41%, the highest in 16 months.

Germany’s 10-year yield gained five basis points to -0.29%, the highest in more than a week on the largest climb in two weeks.

Commodities

West Texas Intermediate crude declined 0.4% to $64.57 a barrel, the lowest in a week.

Gold strengthened 0.8% to $1,745.72 an ounce, the highest in almost three weeks on the largest gain in more than a week.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403814

SET creeps up as investors eye key Fed meeting

EconMar 17. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,566.76 on Wednesday, up 2.73 points or 0.17 per cent. The volume of total transactions was Bt92.17 billion with an index high of 1,571.53 and a low of 1,559.22.

In the morning session, a Krungsri Securities analyst expected the day’s index to fall to 1,560 points due to a lack of positive sentiment.

He said uncertainty over inflation and some European countries’ suspension of AstraZeneca Covid-19 vaccinations could pressure the index.

“Meanwhile, investors would delay trading to await the outcome of a key US Federal Reserve meeting [on Wednesday],” he added.

The 10 stocks with the highest trade value today were OR, PTT, HANA, IRPC, KBANK, PTTGC, GUNKUL, PTTEP, CPALL and KCE.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 29,914.33, down 6.76 points or 0.023 per cent.

China’s Shang Hai SE Composite Index closed at 3,445.55, down 1.18 points or 0.034 per cent, while the Shenzhen SE Component Index closed at 13,809.77, up 166.81 or 1.22 per cent.

Hong Kong’s Hang Seng Index closed at 29,034.12, up 6.43 points or 0.022 per cent.

South Korea’s KOSPI closed at 3,047.50, down 19.67 points or 0.64 per cent.

Taiwan’s TAIEX Index closed at 16,215.82, down 97.34 points or 0.60 per cent.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403806

Thailand leading Asia’s shift to e-commerce with 58% rise

EconMar 17. 2021

By The Nation

The number of Thai households shopping online has shot up 58 per cent during the Covid-19 pandemic, which has accelerated the region’s shift to e-commerce. The dramatic rise in households buying online signals a turning point for e-commerce in Asia, says global marketing research firm NielsenIQ.

“We have entered the end of the beginning of e-commerce in Asia and those who rest now will sleep through the most formative time of growth for e-commerce,” said Vaughan Ryan, NielsenIQ’s Consumer Intelligence managing director in Asia.

NielsenIQ warns retailers that as e-commerce transitions to the next phase, there are five challenges that retailers need to face. These are greater fragmentation in retail, redefining of the role of physical stores, divergent realities, increased fight for consumer attention, and the race to last-mile fulfilment.

In Thailand, e-commerce has been historically dominated by the non-food category. But NielsenIQ observed soaring growth in 2020 for the food category. From January to December 2020, it reports that the food category grew by 74 per cent versus 60 per cent growth shown by non-food. The challenge according to NielsenIQ is how retailers and brands can make this momentum sustainable.

To meet that challenge, retailers and brands will have to connect their various channels – online and offline – to provide a seamless shopping experience for customers across all platforms, said Pornvadee Porningmast, NielsenIQ’s Consumer Intelligence head in Thailand. The shift to this “omnichannel” model of e-commerce is now inevitable in Thailand, NielsenIQ said.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403795

Lack of positive sentiment pressures SET in morning trade

EconMar 17. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index dropped by 0.21 points or 0.01 per cent to 1,563.82 in the morning session on Wednesday.

A Krungsri Securities analyst expected the day’s index to fall to 1,560 points due to a lack of positive sentiment.

He said uncertainty over inflation and some European countries’ suspension of AstraZeneca Covid-19 vaccinations could pressure the index.

“Meanwhile, investors would delay trading to await the outcome of a key US Federal Reserve meeting,” the analyst added.

He recommended investors buy:

▪︎ AOT, Mint, Centel, AAV, BA, CPN, CRC and Major, which benefit from positive news of a Covid-19 vaccine in Thailand.

▪︎ Hana, KCE, TU and CPF, which benefit from the weakening baht.

▪︎ CBG, Ichi, Sappe, RBF, DOD, IP, TACC, Gunkul and Kiss which benefit from positive news on hemp production and its general use.

The SET Index closed at 1,564.03 on Tuesday, down 1.70 points or 0.11 per cent. Total transactions amounted to Bt88.29 billion, with an index high of 1,573.13 points and a low of 1,562.35.

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30403793

Gold up in morning trade

EconMar 17. 2021

By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Wednesday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt25,150 per baht weight and selling price Bt25,250 while gold ornaments cost Bt24,695.64 and Bt25,750, respectively.

At close on Tuesday, the buying price of a gold bar was Bt25,100 per baht weight and selling price Bt25,200 while gold ornaments cost Bt24,650.16 and Bt25,700, respectively.

The spot gold price moved to US$1,734 (Bt53,367) per ounce after rising by $1.70 to $1,730.90 on Tuesday. However, investors are delaying trading as they watch the outcome of the US Federal Reserve meeting on Wednesday and Thursday, an analyst said.

The Hong Kong gold price meanwhile rose by HK$10 to $16,050 (Bt63,608) per tael, the Chinese Gold and Silver Exchange Society reported.