#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Jurin eyes boosting trade ties with UK

Econ

Jun 27. 2020British Ambassador to Thailand Brian John Davidson, left, pays a courtesy call to Deputy PM Jurin Laksanavisit at Government House on Friday (June 26). Photo courtesy Royal Thai Government website.

By THE NATION

Deputy Prime Minister Jurin Laksanawisit said he had spoken to British Ambassador Brian John Davidson on Friday (June 26) on possible measures of boosting trade between the two countries.

He added that Thailand is also planning to enter negotiations with Britain on a free-trade agreement.

Jurin, who is also commerce minister, added that once the Covid-19 pandemic eases, he will lead a delegation of Thai private sector representatives to the UK for talks on trade and investment.

Meanwhile, deputy government spokesperson Ratchada Thanadirek said bilateral trade between Thailand and Britain is worth Bt220 billion.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Cabinet set to consider Bt80-bn worth of economic recovery projects

Econ

Jun 27. 2020

By THE NATION

The first lot of state projects to be proposed to the Cabinet is expected to use about Bt80 billion of the economic recovery budget, the National Economic and Social Development Council (NESDC) secretary-general Tossaporn Sirisamphan said.

The government has earmarked Bt400 billion of the Bt1.1 trillion economic stimulus package for state agencies to develop projects to revive the virus-hit economy.

Tossaporn said that as of Wednesday (June 24), state agencies had proposed 46,429 projects worth Bt1.45 trillion. However, the working panel tasked with screening okayed 213 projects worth Bt101 billion in the first round, before handing the list to the screening committee, which is expected to cut the projects down to Bt80 billion before tabling them during the Cabinet meeting on July 8.

These projects are expected to create 410,000 jobs.

Of the Bt1.1 trillion stimulus package, Bt550 billion has been earmarked to help those affected by the Covid-19 pandemic, Bt400 billion for reviving the economy and Bt4.5 billion for public health. So far, the disbursement of Bt360 billion was approved.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Somkid pushes to kick-start stalled PPP projects

Econ

Jun 27. 2020Deputy Prime Minister Somkid Jatusripitak, left and Finance Minister Uttama Savanayana.

By The Nation

In a meeting with the public-private partnership (PPP) committee on Friday (June 26), Deputy Prime Minister Somkid Jatusripitak called on state enterprises to take action after PPP projects worth a combined Bt1.09 trillion have stalled due to the Covid-19 outbreak.

He said a little delay is acceptable, but projects should not be postponed by a year. Several PPP investment projects have not been able to get off the ground for six to 10 months. 

Somkid also said he had met with executives of PTT and the Electricity Generating Authority of Thailand on Thursday and asked them to speed up their investment by bringing next year’s projects forward. The investment should also focus on creating more jobs, he said. 

His statement reflects concerns about rising unemployment due virus-induced business shutdowns and sharp economic contraction. The Bank of Thailand recently predicted that the Thai economy this year will shrink 8.1 per cent, the worst ever recorded in history. 

He said that PPP investments should not just concentrate on infrastructure projects, but should also cover social projects, services, medical services, education, public health, tourism and agricultural projects. He also asked the Board of Investment (BOI) to offer more incentives so these projects can lure private investors. 

Meanwhile, Finance Minister Uttama Savanayana said the Covid-19 pandemic was the main cause for the delays, adding that the plan was to always push for domestic investment in order to boost the economy amid export contraction. 

Prapas Kong-led, director general of the State Enterprise Policy Office, said up to 90 PPP projects are in the pipeline worth Bt1.09 trillion.

He said 18 of these projects worth a combined Bt472 billion were on the priority list, and of them, 10 had been delayed by the impact of Covid-19. 

Separately, the PPP committee on Friday approved rules and regulations for PPP projects worth less than Bt5 billion, which is expected to facilitate more investment cooperation between the public and private sectors.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

No lockdown in US despite sharp spike in Covid cases revives SET

Econ

Jun 26. 2020

By The Nation

Positive sentiments pushed the Stock Exchange of Thailand (SET) Index up by 4.46 points or 0.34 per cent today (June 26), closing at 1,330.34, while total transactions amounted to Bt47.193 billion with an index high of 1,344.04 and a low of 1,328.49.

During the morning session, a Krungsri Securities stock analyst said he expected the index to fluctuate between 1,315 and 1,340.

“The market won positive sentiment after the European Central Bank gave central banks the go-ahead in lending cash to mitigate the Covid-19 impact and the mass buy-offs of stocks,” the analyst said.

“Meanwhile, Larry Kudlow, director of the US National Economic Council, has said that the US will not impose lockdown measures again even though the number of new Covid-19 cases is rising sharply.”

However, the analyst warned of uncertainty from economic recession after the International Monetary Fund revised the global GDP this year from 3 per cent contraction to 4.9 per cent contraction.

“The index will also be under pressure from foreign investors’ move to reduce capital flow into the country.”

The top 10 stocks with the highest trade values today were GULF, CPALL, ADVANC, KBANK, AOT, PTT, SCC, GPSC, CPF and INTUCH.

As of 4.30pm, crude oil price rose by US$0.57 or 1.47 per cent to $39.29 per barrel, while gold price dropped by $3.60 or 0.20 per cent to $1,774.20 per ounce.

Asian indices, meanwhile, were mixed:

Japan’s Nikkei Index closed at 22,512.08, up 252.29 points, or 1.13 per cent.

Hong Kong’s Hang Seng Index closed at 24,549.99, down 231.59 points, or 0.93 per cent.

South Korea’s KOSPI Index closed at 2,134.65, up 22.28 points, or 1.05 per cent.

Stock markets in China and Taiwan were closed due to the Dragon Boat festival.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET extends uptick rules till Sept 30 amid market volatility

Econ

Jun 26. 2020

By The Nation

The Stock Exchange of Thailand (SET) has extended uptick rules on short-selling and the ceiling and floor prices of stocks to September 30 from June 30 this year to mitigate the impact from market volatility.

Meanwhile, the Thailand Futures Exchanges also has extended the rule on daily price limit of SET50 Index Futures, SET50 Index Options, Sector Futures, and Single Stock Futures to September 30 from June 30.

SET officials said that the move had been approved by the Securities and Exchange Commission after hearing comments from related parties.

“The SET had announced these rules since the middle of March to mitigate the impact from market volatility due to the Covid-19 outbreak,” the officials said.

“However, the market is still facing high volatility due to Covid-19 and uncertainties for the global economy.”

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price stays firm

Econ

Jun 26. 2020

By The Nation

The price of gold was unchanged in morning trade on Friday (June 26), the Gold Traders Association reported.

As of 9.29am, buying price of a gold bar was Bt25,700 per baht weight and selling price Bt25,800, while gold ornaments were priced at Bt25,421.40 and Bt26,300, respectively.

The Gold Spot Index price this morning moved to around US$1,762 (Bt54,423) per ounce after the price dropped by $4.5 to $1,770.6 per ounce at Thursday’s close (June 25) due to the strengthening dollar.

However, the price of gold dropped slightly after the US revealed weak economic data.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises on back of ECB move, window dressing purchase of stocks

Econ

Jun 26. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index opened at 1,337.65, up 11.77 points, or 0.89 per cent, on Friday morning (June 26).

A stock analyst at Krungsri Securities expected the index to fluctuate between 1,315 and 1,340.

“The market gained positive sentiment from the European Central Bank allowing central banks outside the euro-zone to lend cash to mitigate the Covid-19 impact and mass buy-offs in stocks as window dressing,” the analyst said

“Meanwhile, Larry Kudlow, director of the US National Economic Council, revealed that the US government will not impose lockdown measures again although the number of new Covid-19 cases in the country were increasing sharply.”

The analyst, however, said that uncertainty following the economic recession after the International Monetary Fund cut the global gross domestic product this year from contracting 3 per cent to contracting 4.9 per cent would plunge the index.

“In addition, the index would be under pressure from foreign investors’ move to reduce capital flows into the country.”

He recommended the following stocks:

▪ Defensive stocks, such as INTUCH,TTW, and DIF.

▪ Stocks that were added to the SET50 and SET100 calculations — BPP, TTW, ACE, BFIT, DOHOME, RBF, SIRI, SISB, SPCG, TVO, and WHAUP.

The SET Index fell by 7.55 points on Thursday (June 25), closing at 1,326. Total transactions amounted to Bt60 billion.

Foreign investors made net sales of Bt740 million in stocks, but made net buys of Bt1.754 billion in bonds. There were 5,141 net long TFEX SET50 contracts.