#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thai investors advised to keep eyes on US-China spat, Fed meeting

EconJul 25. 2020

By The Nation

Experts have advised investors to keep an eye on international factors such as US-China tensions, listed companies’ second-quarter performance, and the upcoming US Federal Reserve (Fed) meeting, as these could affect the Stock Exchange of Thailand (SET) Index and the gold price next week.

The SET Index on Friday (July 24) closed at 1,340.92, down 18.73 points or 1.38 per cent, with total transactions of Bt46.529 billion.

A stock analyst at Trinity Securities expected the index next week to fluctuate in a narrow range between 1,300 and 1,380 due to a flare-up of tensions between the US and China, and listed companies reporting their second-quarter performance.

“Also, we advise investors to follow the Fed meeting from July 28 to 29 as the [US central bank] will issue additional financial measures to stimulate the economy,” the analyst said.

The price of gold on Friday stood at US$1,893.68 per ounce, while the price in Thailand was Bt28,400 per baht weight.

A gold analyst at YLG Bullion International advised investors to buy gold for short-term speculation.

“If the gold price does not drop below the support level of between $1,883 and $1,878 per ounce, the price will rise to the resistance level between $1,898 and $1,911 per ounce,” the analyst said.

“If the price does not rise over the resistance level, investors who cannot tolerate risks can gradually sell some gold to take profits.”

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Five banks get BOT okay to use facial recognition technology

EconJul 25. 2020Bank of Thailand’s assistant governor Siritida Panomwon Na Ayudhya

By The Nation

The central bank issued guidelines on July 22 on using biometric technology, including facial recognition, for use in financial services, and five banks have put the KYC (know-your-client) procedure in place for the opening of accounts.

Bank of Thailand’s assistant governor Siritida Panomwon Na Ayudhya said on Friday (July 24) that 14 banks and non-banking financial institutions have applied to use the biometric technology as a KYC tool for identity verification. 

So far, five bank – Kasikornbank, Bangkok Bank, Krungsri, TMB and CIMB Thailand – have been given the green light as they have successfully passed the experiment in a regulatory sandbox, she said. Now all five banks use facial recognition technology for their services, meaning clients can open bank accounts using a mobile phone app or ATM machine without having to go to the bank in person. 

As many as 5 million accounts have been opened so far using the facial-recognition technology, which fits perfectly in the “new normal” brought on by the Covid-19 pandemic. 

According to the central bank’s guidelines on biometric technology, service providers must implement six measures:

1. They must put in place policy and regulations on using the technology, 

2. Gather users’ information and ensure it is secure,

3. Accurately assess the client using biometrics; 

4. Meet international standards in protecting users’ information; 

5. Protect users and educate them about the technology; 

6. Put in place operational risk management and ensure continuous service.  

In the initial phase, banks will apply the biometric technology to their own customers, while in the second phase, the central bank will allow cross-verification of users’ identity among financial service providers, Siritida added.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Feasibility study of Phase 2 airport rail plan ready next month

EconJul 25. 2020

By The Nation

The State Railway of Thailand has hired a consultant to conduct a feasibility study on the plan to build Phase 2 of the high-speed rail system linking three international airports, said SRT Special Project chief and construction engineer Sucheep Sooksawang.

Phase 2 covers the 190-kilometre Rayong-Chantaburi-Trat extension, he said, after a market-sounding event for the project on Friday. Representatives from around 200 local and foreign private companies attended the event.

The study will be completed next month and submitted to the Cabinet next year. The SRT will then draw up a public-private investment plan in 2022 before calling for constructors’ bids in 2024.

The SRT has three options for investment.

Under the first, a private company would invest in the construction, train system, trains, operation and maintenance, while the SRT would allocate land plots.

Under the second, a private company would invest in the train system, trains, operation and maintenance, while the SRT allocates land and takes care of construction.

Under the third option, a private company would be responsible for operation and maintenance, with the SRT taking care of the rest.

The project is reportedly expected to cost Bt101.7 billion.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET down more than 1% as US-China tensions hit global stocks

EconJul 24. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,340.92 today (July 24), down 18.73 points or 1.38 per cent. Total transactions amounted to Bt46.529 billion with an index high of 1,350.93 and a low of 1,337.21.

The SET and stock markets around the world fell instantly after China ordered the US to close its consulate in Chengdu in retaliation for the US shutting down the Chinese consulate in Houston.

In the morning session, a Krungsri Securities stock analyst expected the index to fall to between 1,350 and 1,355 before rebounding.

“Despite the US easing its lockdown restrictions, unemployment claims in the country have risen to 1.4 million, up more than a million over 18 weeks of consecutive rises,” he said.

“Meanwhile, investors have sold off their stocks to reduce risks before the four-day holiday due to uncertainty as the US economy continues to slowdown and the number of Covid-19 cases there continues rising.”

However, the analyst said the index should rebound due to mass buy-ups of stocks in companies showing improved second quarter performance, and on hopes that the US will issue economic stimulus measures worth $1 trillion.

The 10 SET stocks with the highest trade value today were GULF, PTT, STA, SAWAD, CPALL, CPF, AOT, PTTEP, ACE, and MINT.

As of 4.30pm, the price of crude oil rose by US$0.38 or 0.93 per cent to $41.45 per barrel, while gold rose by $3.40 or 0.18 per cent, to $1,893.40 per ounce.

Other Asian indices were on the fall:

China’s Shang Hai SE Composite Index closed at 3,196.77, down 128.34 points, or 3.86 per cent, while the Shenzhen SE Component Index closed at 12,935.70, down 725.80 points, or 5.31 per cent.

Hong Kong’s Hang Seng Index closed at 24,705.33, down 557.67 points, or 2.21 per cent.

South Korea’s KOSPI Index closed at 2,200.44, down 15.75 points, or 0.71 per cent.

Taiwan’s TAIEX Index closed at 12,304.04, down 109 points, or 0.88 per cent.

Japan’s Nikkei Index was closed for the four-day holiday weekend.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Thai exports fall for 3rd month in a row

EconJul 24. 2020

By The Nation

Thai exports in June dropped 23.17 per cent year on year to US$16.44 billion, the third straight fall in three months since April, according to the Commerce Ministry’s Trade Policy and Strategy Office.

Meanwhile imports dropped 18.05 per cent year on year to $14.834 billion, resulting in a trade surplus of $1.610 billion (Bt51.16 billion).

Exports in the first six months dipped 7.09 per cent to $144.34 billion.

In June, exports of Thai farm and food products expanded under the Covid-19 outbreak, with demand high for canned seafood, processed food, frozen chicken, non-alcoholic drinks, pet feed, frozen vegetables and fruits.

Thai exports to certain markets in June expanded, however, including to China (for the third consecutive month), Ireland, Poland, Denmark and the United Arab Emirates.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Auto industry sees positive signals despite contraction in first half

EconJul 24. 2020

By The Nation

Auto production contracted by 43.14 per cent in the first half of the year compared to the same period in 2019 but the Federation of Thai Industries (FTI) is confident of the situation improving in the second half.

Production for the whole year is expected to contract by 30-35 per cent year on year, 

FTI spokesman Surapong Paisitpatanapong said. The production data included domestic sales and exports of cars and motorcycles.

Automobile production in June 2020 totalled 71,704 units, down by 58.52 per cent compared with the same period last year as it was mostly for domestic sales than for export, Surapong said  However, production in May increased by 27.96 per cent month on month since most of the automotive industry operators had reopened and factories had resumed production.

Auto production during the first six months of this year totalled 606,132 units down by 43.14 per cent year on year. One-tonne pickup trucks accounted for 368,562 units, equal to 60.81 per cent of total production.

Motorcycle production in June was 89,799 units, down by 56.09 per cent compared to the same period last year. Total motorcycle production in the first six months of this year was 877,447 units, down by 30.28 per cent.

Domestic car sales in June totalled 58,013 units, down by 32.6 per cent compared to the same period last year but up from May by 43.53 per cent. Domestic sales have increased since the government relaxed the lockdown and offered aid to those affected by Covid-19. Sales in the first six months totalled 328,604 vehicles, down 37.3 per cent year on year.

Motorcycle sales in June were 125,028 units, down by 16.87 per cent year on year but up from May by 28.43 per cent. Overall, sapes during the first six months of the year totalled 731,979 units, down by 18.1 per cent compared to the same period last year.

The situation of vehicle production and sales has improved, Surapong said. The FTI estimates that throughout the year, the Thai automotive industry will have lower overall production, sales and exports, less than 50 per cent from the previous year, and contract by 30-35 per cent if the Covid-19 situation, both in Thailand and abroad, is controlled.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Fourth quarter to see many companies launch IPOs

EconJul 24. 2020

By The Nation

Several listed companies aimed to launch initial public offerings (IPOs) by the fourth quarter of this year, the Stock Exchange of Thailand (SET) said.

Manpong Senanarong, SET’s senior executive vice president, said the Securities and Exchange Commission (SEC) has allowed up to 17 companies listed on the SET and the Market for Alternative Investment (MAI) to launch IPOs, adding that 14 listed companies were waiting for the SEC’s approval to launch their IPOs.

“Normally, listed companies will request IPOs during the fourth quarter of every year because they have to report the second-quarter performance to the SEC first,” he said. “If the government is able to contain the spread of Covid-19, more listed companies would request IPO launches.”

Meanwhile, Worachat Thuaycharoen, managing director at Finnex Advisory, acting as financial adviser of Silicon Craft Technology (SICT), said the SICT would list on the MAI on July 30 this year after launching 100 million IPO shares at Bt1.38 per share from July 21 to 23. The SICT’s performance in the past 12 months (April 1, 2019 to March 31, 2020), gave it a price to earnings of 14.66 times.

“Several investors have subscribed to the SICT’s shares because it is the first deep technology company that will be listed on the Thai stock market,” he said. “SICT runs a microchip research and development business in which 100 per cent of the company’s sales came from foreign countries.”

He added that I&I Group, a digital and technology consulting company will launch 25 million IPO shares and list on the MAI by the end of this year or the beginning of the next year.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold continues to climb amid high demand

EconJul 24. 2020

By The Nation

The price of gold rose by Bt50 per baht weight in the morning trade today (July 24), the Gold Traders Association reported.

As of 9.29am, the buying price of a gold bar was Bt28,100 per baht weight and selling price Bt28,200, while gold ornaments cost Bt27,591.20 and Bt28,700, respectively.

At close on Thursday (July 23), the buying price of a gold bar was Bt28,050 per baht weight and selling price Bt28,150, while gold ornaments cost Bt27,545.72 and Bt28,650, respectively.

The Comex (Commodity Exchange) gold price to be delivered in August rose by US$24.9 or 1.34 per cent to US$1,890 (Bt60,004) per ounce at yesterday’s close.

The gold price still closed at the highest level in nine years as investors are still buying gold as a safe-haven asset amid uncertainty following US-China tensions and the Covid-19 pandemic.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET dips in morning session out of worries over US economy, unemployment

EconJul 24. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell 11.23 points, or by 0.83 per cent to 1,348.42 during the morning session on Friday (July 24), with a Krungsri Securities stock analyst saying he expected the index to fall to between 1,350 and 1,355 before rebounding.

“Despite the US easing lockdown restrictions, the number of unemployment claims in the country has risen to 1.4 million, rising by more than a million people for 18 consecutive weeks,” he said.

“Meanwhile, investors have sold off their stocks to reduce risks before the four-day holiday due to uncertainty as the US economy continues to slowdown and the number of Covid-19 cases there continue rising.”

However, the analyst said the index should rebound from mass buy-ups of stocks whose second quarter performance showed improvement, as well as over hope that the US will issue economic stimulus measures worth $1 trillion.

He recommended that investors buy:

– Food and electronic stocks that benefit from the weakening baht, such as CPF, GFPT, TU, TFG, ASIAN, KCE, DELTA, HANA and SVI.

– Stocks that have shown improved second-quarter performance, such as TOP, PTTGC, SPRC, SCC, BGRIM, CKP, CPF, TU, TASCO, STA, STGT, SPALI, AP, PRM, PTL, AJ, STARK, CBG and TQM.

The index closed on Thursday (July 23) at 1,360, up 3 points or 0.19 per cent. Total transactions amounted to Bt70 billion.

The SET index still faces volatility from the US-China tensions after a Chinese consulate was closed in Houston within 72 hours to allegedly protect American intellectual property. In retaliation, China will close the US consulate in Wuhan.

Foreign investors made net sales in stocks worth Bt2.054 billion and net buys in bonds worth Bt860 million. There were 5,147 net short Thailand Futures Exchanges contracts.