#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Prayut ready to listen to ideas from big businesses

EconOct 01. 2020Prime Minister Prayut Chan-o-cha 

By The Nation

Prime Minister Prayut Chan-o-cha will meet representatives of companies in the Eastern Economic Corridor (EEC) on Thursday to learn about progress in their project development as well as listen to ideas on how the zone can be further developed.

The meeting will take place at Laem Chabang, Energy Minister Supattanapong Punmeechaow said.

Present at the meeting will be representatives of some 16 major companies, including PTT, Amata Corporation, WHA Industrial Development and Mitsubishi Motors (Thailand).

Also attending will be some ministers, including Supattanapong, Deputy PM and Public Health Minister Anutin Charnvirakul and Transport Minister Saksayam Chidchob, the government’s spokesman Anucha Burapachaisri said.

Targeting big earners

Meanwhile, Supattanapong said the Centre for Economic Situation Administration (CESA) will study new economic stimulus packages on October 7 to boost domestic consumption.

The new package will target the upper middle class who earn a high salary, such as encouraging them to co-pay for products and services, he added.

“They may get subsidies in the form of tax returns,” he said.

Energy Minister Supattanapong Punmeechaow

On September 29, the Cabinet gave the go-ahead to a three-month economic stimulus package in a bid to stimulate domestic consumption.

Under the Kon La Khreung (Let’s Go Halves) scheme, 10 million people will get daily discounts on their shopping of up to Bt150, capped at Bt3,000 per person. The scheme will open for merchants to register online from Thursday.

Under the second scheme, 14 million welfare cardholders will receive an extra monthly discount of Bt500 on their shopping from October 23 to December 31.

Supattanapong said he also wants to promote Bangkok as an international hub for major foreign companies by cashing on the capital’s strong infrastructure and competitive office rents and living cost.

He also wants to woo foreign investment in real estate.

On September 16, CESA approved in principle amendments to the criteria of granting permanent residence to foreigners in a bid to woo more investment.

The centre is considering the option of granting permanent residence to buyers of condominium units, provided applicants do not mortgage, sell or transfer this asset for five years after purchase.

Gradual recovery

Supattanapong said that Thailand’s economic indicators have improved. Thailand has effectively handled the outbreak and continues to launch measures to revive the sapping economy.

He is confident that the Thai economic growth will return to the pre-outbreak level within two years.

He said the key economic driver is the private sector investment and it is time for the private companies to stop fearing the Covid-19 outbreak.

He added that some private companies have continued to invest, because the interest rate is low and the price of construction materials is dropping.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Experts warn of short-selling tsunami as SET uptick rule expires

EconOct 01. 2020

By The Nation

The value of short sales is expected to hit Bt1 billion daily after the Stock Exchange of Thailand (SET)’s uptick rule expires on Thursday (October 1). Stocks in businesses related to tourism and consumption will be vulnerable to short-selling due to their high valuation and weak profit forecasts.

Nuttachart Mekmasin, deputy managing director at Trinity Securities, said short-selling is not a worry when the SET valuation is not high.

“However, the index valuation is currently high, so we expect stocks with a high valuation and weak profit forecast to face short sales, especially in tourism businesses such as hotels and airports as their price will reflect profit in the next few years.”

He said short-selling would also hit consumption-related firms such as retail and telecommunication businesses.

He predicted short sales will hit Bt1 billion daily because the SET’s valuation was not as high as before the Covid-19 outbreak.

“Daily short sales will total Bt3 billion to Bt5 billion daily when the SET valuation is very high,” he added.

Koraphat Vorachet, director of research and investment at Capital Nomura Securities, said the SET’s new zero-plus tick rule would not trigger uncertainty among investors as the market is still relying on its fundamentals, and internal and external factors.

However, he predicted the short-sales value will return to a normal level of Bt3 billion to Bt3.5 billion daily, up from Bt400 million to Bt500 million daily.

“On Wednesday [September 30], investors sold stocks to reduce risks and accommodate the impact of the zero-plus tick rules on the market because the market situation is currently gloomy,” he said.

An analyst at Asia Plus Securities forecast volatility from a fivefold increase in short sales after the zero-plus tick rules come into effect.

“Our research on triggers of short sales risk, such as high valuation … found that seven companies are at risk of short-selling – Airports of Thailand (AOT), Minor International (MINT), Home Product Center (HMPRO), Com7 (COM7), KCE Electronics (KCE), Delta Electronics (DELTA) and PTT Global Chemical (PTTGC),” he said.

“Meanwhile, eight stocks will be able to escape short sales risks, namely Asia Sermkij Leasing (ASK), MCS Steel (MCS), Noble Development (NOBLE), Sri Trang Gloves (STGT), Infraset (INSET), Dynasty Ceramic (DCC), Nawarat Patanakarn (NWR) and Workpoint Entertainment (WORK).”

SET president Pakorn Peetathawatchai said he was not interested in using old short-sales rules because volatility was currently low, unlike the situation in March and April this year when volatility was high due to the Covid-19 outbreak.

“The SET is monitoring factors that affect trading to improve regulations for the current situation, so there is no need to change regulations in the short term,” he said.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET sinks further amid lack of positive sentiment, falling oil price

EconSep 30. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,237.04 on Wednesday, down 20.30 points or 1.61 per cent. The volume of total transactions was Bt48.98 billion with an index high of 1,260.06 and a low of 1,236.53.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fall to the support line at 1,250 due to lack of positive sentiment and the sharp fall in oil price amid uncertain fuel demand during the Covid-19 crisis.

“Meanwhile, uncertainty over market volatility from the expiry of the SET’s ceiling-floor adjustment, uptick rules and circuit-breaker would pressure the index,” he said.

The 10 stocks with the highest trade value today were PTT, STGT, DIF, AOT, CPALL, KBANK, CPF, BBL, TKN and BDMS.

As of 4.30pm, the price of oil dropped by US$0.48 or 1.22 per cent to $38.81 per barrel, while gold dropped by $15.50 or 0.81 per cent, to $1,887.70 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,185.12, down 353.98 points or 1.50 per cent.

China’s Shang Hai SE Composite Index closed at 3,218.05, down 6.31 points or 0.20 per cent, while Shenzhen SE Component Index closed at 12,907.45, up 6.75 points or 0.052 per cent.

Hong Kong’s Hang Seng Index closed at 23,459.05, up 183.52 points or 0.79 per cent.

South Korea’s KOSPI Index closed at 2,327.89, up 19.81 points or 0.86 per cent.

Taiwan’s TAIEX Index closed at 12,515.61, up 47.88 points or 0.38 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Moody’s outlook for global coal is stable; long-term issues remain

EconSep 30. 2020

By The Nation

The outlook for the global coal industry is stable, with demand and pricing benchmarks expected to improve over the next 12-18 months, according to Moody’s inaugural assessment of coal prospects.

“An improving global economy sets the stage for some recovery in demand in the most important coal-consuming sectors, including power generation and steelmaking,” said Benjamin Nelson, an analyst at Moody’s Investors Service.

“An improving supply/demand balance will also modestly lift coal pricing in most regions in 2021.”

Moody’s expectations for the global coal industry are:

• EBITDA will increase more than 10% in 2021 but remain below 2019 levels.

• Prices for thermal coal and met coal in 2021 to remain lower than 2019 levels

• A modest Asia-Pacific recovery in 2021

• Coal demand in Europe will also recover somewhat in 2021

• The North American coal market will post a more modest rebound in 2021

Longer-term risks remain substantial beyond the horizon of the outlook, said Moody’s. Coal producers’ access to capital is diminishing as investors move away from coal due to ESG concerns, and energy intensity in the OECD markets is falling, with demand for electricity lagging economic growth, it added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Covid crisis, shrinking economy bring down govt revenue

EconSep 30. 2020The Finance Ministry’s spokesman Lavaron Sangsnit 

By The Nation

The government collected Bt2.15 trillion in net revenue in the first 11 months of the 2020 fiscal year, which was 12 per cent or Bt293 billion below the target due to shrinking economy, the Finance Ministry’s spokesman Lavaron Sangsnit said.

He attributed the shortfall to the Covid-19 outbreak and the government’s continued launch of relief measures to ease people’s burden.

The Revenue Department collected Bt1.61 trillion, 12.7 per cent or Bt233 billion less than targeted.

The Excise Department collected around Bt500 billion, falling short of the estimated amount by 14.9 per cent or Bt87.8 billion, while the

Customs Department collected Bt85.9 billion, falling short from the target by 15.5 per cent or Bt15.7 billion.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold continues to gain from weakening dollar, Covid-19 worries

EconSep 30. 2020

By The Nation

The price of gold rose by Bt200 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 Bt28,300 per baht weight and selling price Bt28,400 while gold ornaments were priced at Bt27,788.28 and Bt28,900, respectively.

At close on Tuesday, the buying price of a gold bar was Bt28,100 per baht weight and selling price Bt28,200 while gold ornaments were Bt27,591.20 and Bt28,700, respectively.

Spot gold price moved to US$1,896 (Bt60,056.19) per ounce on Wednesday morning after the price rose by $20.9 to $1,903.2 per ounce at close on Tuesday.

Gold price closed in positive territory from the weakening dollar and mass buy-ups of the precious metal as a safe-haven asset amid uncertainty over the Covid-19 impact on the economy.

Hong Kong gold price rose by HK$120, opening at $17,520 (Bt71,619.46) per tael on Wednesday morning, the Chinese Gold and Silver Exchange Society reported.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET falls due to lack of positive sentiment, falling oil price

EconSep 30. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index dropped by 3.46 points, or 0.28 per cent, to 1,253.88 in morning session on Wednesday.

An analyst at Krungsri Securities expected the index to fall to the support line at 1,250 due to lack of positive sentiment and the sharp fall in oil price due to uncertainty over fuel demand amid the Covid-19 crisis.

“Meanwhile, uncertainty over market volatility from the expiration of SET’s ceiling-floor adjustment, uptick rules and circuit breaker would pressure the index,” he said.

As investment strategy, he recommended that investors buy:

▪︎ BANPU and AGE that benefit from rising coal price in response to China’s strong demand.

▪︎ TU, ASIAN, COM7, CHG, PTG and PlanB whose third-quarter performance is expected to grow.

▪︎ DELTA, HANA, KCE and SMT that benefit from the weakening baht.

The SET Index closed at 1,257.34 on Tuesday, down 5.68 points or 0.45 per cent. The volume of total transactions was Bt38.20 billion with an index high of 1,267.67 and a low of 1,254.34.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Slow economic recovery expected to trigger exodus of foreign investors from stock market

EconSep 30. 2020

By The Nation

Foreign investors are expected to make net sales in the Thai stock market of Bt300 billion to Bt350 billion this year from the current Bt273 billion due to the slowdown in the country’s economic recovery, Krungthai Bank said.

Krungthai market strategist Poon Panichpibool expected another Bt30 billion to Bt50 billion of foreign funds to flow out of the Thai stock market if economic recovery is slow.

He said this phenomenon would happen if there were a second Covid-19 outbreak in Thailand, the government’s travel bubble scheme fails to attract tourists or foreign investors wait to buy Thai bonds with interesting yields.

“However, foreign investors would make net sales in Thai stocks of only Bt275 billion to Bt300 billion this year if economic recovery is speeded up by the success of the travel bubble scheme, and Bt30 billion of foreign funds would flow into the stock market,” he said, adding that the production and distribution of Covid-19 vaccine would boost economic recovery.

“Meanwhile, the Thai bond market would not benefit much from the abovementioned positive sentiment because foreign investors would be more cautious about buying long-term bonds whose yield depended on the economic direction and inflation.”

He said more than Bt320 billion cash recently flowed out of the Thai stock market of which Bt270 billion was foreign investors’ funds as they believed the Thai economic outlook was still gloomy and there was no sign of a tourism recovery.

“Meanwhile, foreign investors’ funds began to flow into the Thai bond market after facing mass sell-offs worth Bt150 billion in March, as Thai bond yield was currently high compared to the US and European bonds,” he said.

He expected foreign funds to flow back into the Thai capital market with at least Bt100 billion this year from the recovery in the global and Thai economy and distribution of Covid-19 vaccine in the later part of this year.

On Tuesday, foreign investors made net sales of Thai stocks totalling Bt1.48 billion, while net sales since the beginning of this year increased to Bt273 billion.