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https://www.nationthailand.com/business/30403430

Rising US bond yield likely to pressure Thai stock market

EconMar 08. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 17.19 points, or 1.11 per cent, to 1,561.30 in the morning session on Monday.

A Krungsri Securities analyst expected the day’s index to rise to between 1,555 and 1,560 points on the US Senate’s approval of a US$1.9-trillion economic relief plan, and rising oil price in line with economic recovery.

However, he warned investors to beware of mass sell-offs of Thai shares after the US bond yield rose over 1.5 per cent.

He recommended investors to buy:

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

▪︎ AOT, MINT, CENTEL, 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, PTG and TACC, which benefit from positive news on hemp production and its general use.

The SET Index on Friday closed at 1,544.11, up 10 points or 0.65 per cent. Total transactions amounted to Bt104.80 billion with an index high of 1,553.92 and a low of 1,529.83.

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https://www.nationthailand.com/business/30403426

Gold stages partial recovery after last week’s slump

EconMar 08. 2021

By The Nation

The price of gold rose by Bt150 per baht weight in morning trade on Monday, the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt24,700 per baht weight and selling price Bt24,800, while gold ornaments were priced at Bt24,256 and Bt25,300, respectively.

At close on Saturday, the buying price of a gold bar was Bt24,550 per baht weight and selling price Bt24,650, while gold ornaments were Bt24,104.40 and Bt25,150, respectively. The price had fallen by Bt550 per baht weight last week.

Spot gold moved to US$1,714 (Bt52,580) per ounce after falling by $2.2 to $1,698.5 on Friday, the lowest since June 5 last year, due to rising US bond yield and strengthening dollar amid strong US non-farm payroll data.

Hong Kong gold price rose by HK$140 to $15,810 (Bt62,441) per tael, the Chinese Gold and Silver Exchange Society reported.

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https://www.nationthailand.com/business/30403404

Domestic political situation, Covid-19 could influence stock market next week

EconMar 07. 2021

By The Nation

The Covid-19 outbreak and the political situation are expected to influence the Stock Exchange of Thailand (SET) Index next week, Kasikorn Securities said.

The securities company expected the SET Index to move between 1,510 and 1,550 points next week, advising investors to follow Thailand’s political situation, the Covid-19 outbreak and progress of the US economic stimulus package.

“US economic data that warrants close monitoring include consumer and producer price indices, plus the number of initial jobless claims. Other important factors that warrant close monitoring include the European Central Bank’s monetary policy, the China National People’s Congress meeting and February economic data, plus Japan and the euro-zone’s gross domestic product in the fourth quarter of 2020,” Kasikorn Securities said.

The SET Index on Friday closed at 1,544.11, up 3.16 per cent compared to last week’s close. The average daily transaction was Bt101.08 billion, up 2.01 per cent compared to last week close.

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https://www.nationthailand.com/business/30403317

Construction of four airports eyed to stimulate Northeast, South

EconMar 04. 2021

By The Nation

The Transport Ministry has agreed to consider funding the construction of airports in the Northeast and South to support domestic tourism, the Department of Airports (DOA) said.

DOA has conducted a feasibility study for an airport in the Northeast province of Bueng Kan and expects Bt3.5 billion to be allocated in 2022 for its construction.

If the plan is okayed by the Cabinet, the environmental impact assessment should be completed by next year, required land expropriated by 2023 and construction should be finished by 2026.

An airport in Bueng Kan is also being considered because more people are opting for air travel and there is no airport close to the province at present.

If this project goes ahead, the airport will cover approximately 20,000 square metres and be located about 15 kilometres from centre of Bueng Kan town.

DOA has also put in a request for Bt4.13 billion to build an airport in Satun province, which is being considered by the Transport Ministry.

The ministry is also considering the proposal for a Bt4.54-billion airport in Mukdahan province. Preliminary studies conducted in 2018 confirmed a previous study by the Japan International Cooperation Organisation, which concluded that the best location would be in Muang district’s Kham Pa Lai area.

It is about 20km from the city centre and is more or less equidistant from the airports of Nakhon Phanom, Sakon Nakhon and Roi Et provinces.

This Northeast province, which shares a border with Laos, is being considered as a special economic zone, as its geographical placement has a high potential for trade and investment.

DOA is also eyeing the possibility of putting up an airport in the southern province of Phatthalung, and its study of three possible locations should be completed by mid-June.

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https://www.nationthailand.com/business/30403315

SET proves resilient on bad day for Asian stocks

EconMar 04. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,534.11 on Thursday, down 9.29 points or 0.60 per cent. Total transactions amounted to Bt108.85 billion with an index high of 1,540.66 and a low of 1,527.88. However, despite losing ground, the SET was the standout performer on a bad day for Asian indices. 

In the morning session, a Krungsri Securities analyst expected the index to fluctuate between 1,535 and 1,560 points in line with other Asian indices amid uncertainty over rising US bond yield and a possible drop in the oil price following today’s Opec+ meeting.

However, the index would be buoyed by mass buy-ups of stocks driven by the launch of Covid-19 vaccinations in Thailand, he said.

The 10 stocks with the highest trade value today were CPALL, PTT, AOT, CPF, MTC, SAWAD, BDMS, COM7, OR and PTG.

Other Asian indices were on the fall:

Japan’s Nikkei Index closed at 28,930.11, down 628.99 points or 2.13 per cent.

China’s Shang Hai SE Composite Index closed at 3,503.49, down 73.41 points or 2.05 per cent, while the Shenzhen SE Component Index closed at 14,416.06, down 516.33 points or 3.46 per cent.

Hong Kong’s Hang Seng Index closed at 29,236.79, down 643.63 points or 2.15 per cent.

South Korea’s KOSPI closed at 3,043.49, down 39.50 points or 1.28 per cent.

Taiwan’s TAIEX Index closed at 15,906.41, down 305.32 points or 1.88 per cent.