As Trump moves closer to Pelosi in economic aid talks, House speaker must decide next move #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

As Trump moves closer to Pelosi in economic aid talks, House speaker must decide next move

Biz insightsSep 18. 2020House Speaker Nancy PelosiHouse Speaker Nancy Pelosi

By The Washington Post · Rachael Bade, Erica Werner · NATIONAL, HEALTH, CONGRESS, HEALTH-NEWS 
STIMULUS-ANALYSIS

WASHINGTON – House Democrats were starting to squirm earlier this week, fretting that House Speaker Nancy Pelosi’s risky gamble in economic relief talks would backfire and they would go into the November elections without any new stimulus package.

But President Donald Trump scrambled that calculus Wednesday when he cast aside the Republican negotiation position and told his party to embrace a much larger spending bill, including stimulus checks, to give Americans more money. In short, he moved closer to Pelosi’s position after a month-long showdown.

Now the California Democrat faces a crucial decision: Does she try to negotiate an agreement with a White House that suddenly seems ready to deal, or continue to hold her ground and make Trump, facing his own election woes, swallow the sweeping $2.2 trillion bill she has long demanded. 

Early signs suggest Pelosi’s still not ready to budge. 

“Great, call me when he’s at $2.2 trillion,” Pelosi told Treasury Secretary Steven Mnuchin during a private call Wednesday, referring to Trump. 

Holding her ground with Trump may be the easy part. It also means facing down an insurrection from the very members she’s long tried hardest to protect, the swing-seat Democrats whose victories in GOP-leaning districts returned Democrats to the House majority last year.

These centrist Democrats, fearful of constituent blowback, are pushing Pelosi to return to the negotiating table and strike a deal with Trump on an expansive relief package – even if she can’t get the $2.2 trillion she wants. Congress has already approved roughly $3 trillion in emergency spending in response to the coronavirus pandemic, and Pelosi has called for much more. The latest Republican offer, the one Trump dismissed, was closer to $300 billion.

There’s a palpable fear among Democrats that voters will blame them on Election Day should they appear to be putting their own reelections ahead of what’s good for Americans.

“We should have that same level of urgency that we had when we were dealing with this in March and April,” said Rep. Andy Kim, who flipped a GOP district in New Jersey last election. “And I don’t really get that sense that that type of just timeliness and that urgency is underlying what everybody here is feeling right now.” 

The infighting has created an odd situation whereby Pelosi’s centrist members have applauded the position of a president they voted to impeach just months ago. Some of these moderates offered kudos for Trump on Wednesday after he praised a $1.5 billion bipartisan coronavirus deal put forward by the Problem Solvers Caucus, a group of 50 pragmatic-minded Republicans and Democrats in the House — and tweeted that his own party should consider “much higher numbers,” signaling his openness to a deal. 

“The tweet that Trump just sent out saying that he was open to more resources for the American people is a good thing because they need more resources,” said Blue Dog Coalition leader Stephanie Murphy, D-Fla. “We can argue about what the specifics of a plan should look like, but the important thing is that we get back to the negotiating table and hammer out a deal that can be passed into law.” 

Pelosi, meanwhile, had dismissed the Problem Solvers pitch, having her top policy chairmen put out a statement saying the proposal “falls short” and “leaves too many needs unmet.” 

The diss by senior House Democrats infuriated many frontlines eager to work with the GOP. Rep. Max Rose, D-N.Y., a vulnerable New York Democrat from a district Trump carried in 2016, called their statement “laughable,” “idiotic” and “representative of why everyone hates this place.” 

“That does not speak to what they should be doing as party leaders,” Rose said. “Sit down. Work something out. We have a bipartisan road map right here. Then you put the ball in [Senate Majority Leader] Mitch McConnell’s’ court.”

Republicans have sought to exploit the Democrats’ divisions.

“I think knowing her well, she cares more about politics than she does about the people,” House Minority Leader Kevin McCarthy, R-Calif,) said Thursday. “And that’s unfortunate. That’s why she should not be fit for that job.”

But underscoring the complex calculations at play for everyone involved, McCarthy is simultaneously quelling a rebellion of his own, one that could undercut his criticism of Pelosi. 

A group of conservative House Republicans have begun discussing trying to use an obscure House procedure to try to force a vote to boot Pelosi from the speakership, known as “a motion to vacate the chair,” first reported by Politico. The action, they believe, would require moderate Democrats to decide whether they want Pelosi as speaker, putting them on the spot at a moment of internal tension.

McCarthy has made clear his concerns that it would only backfire by giving vulnerable Democrats a chance to separate themselves from Pelosi just ahead of an election where she’s unpopular in some of the GOP-leaning districts they represent.

“I’m in favor of defeating Nancy Pelosi,” McCarthy said in an interview Wednesday night with conservative host Laura Ingraham. “The real challenge would be we’re four weeks away from election. These Democrats could vote against Nancy Pelosi, use it in their campaigns to say they’re not with her even though they vote with her 95 percent of the time.” 

At the same time such a move by conservative Republicans would almost certainly make Pelosi stronger, unifying Democrats behind her and pushing their own internal skirmish to the back burner. Despite her current predicament with moderates, Pelosi, many Democrats believe, is stronger than ever as speaker. Notably, many moderates upset with Pelosi have refused to call her out by name – and make it a point criticize both GOP and Democratic leaders for the coronavirus talk standoff. 

Pelosi has served as speaker during two different stints, first from 2007 until 2011 and then retaking the gavel in 2019. She is expected to continue in her role next year if Democrats retain control the House.

Privately, some House Democrats eager to return home in early October with something concrete in hand have echoed GOP speculation that Pelosi and Schumer don’t want to negotiate because a deal could help McConnell, R-Ky., keep the Senate, giving cover to his vulnerable GOP members in tough reelections. 

Pelosi, for her part, flatly denies that politics has anything to do with her negotiating tactics. The GOP’s proposals thus far, she has argued for months, would do little to stem the hardship faced by Americans struggling amid the pandemic. 

Last week, the Senate GOP tried to advance a relief package that was a mere fraction of what House Democrats have demanded, ringing in at just around $300 billion in new spending. Senate Democrats blocked the bill, which excluded any new stimulus checks and did not include money for rental or nutrition assistance that Pelosi has demanded.

Still, the game of chicken between Pelosi and moderate Democrats is striking. While liberal in her own beliefs, the speaker has routinely put the needs of her so-called Majority Makers over the desires of the left. For two years she has eschewed demands for a Medicare for All vote that centrist worried would repel swing voters in their GOP-leaning districts. She has kept the left’s beloved Green New Deal at arm’s length too, as moderates fret about blowback. 

For the first nine months of 2019, Pelosi also stood firm against liberals’ calls to impeach the president, even after a majority of her caucus demanded his ouster – all in the name of her frontliners. And even after the Ukraine scandal forced her hand, she took the advice of her moderate members over some of her own investigative chairmen, including calls to keep articles narrow and focused on Trump’s bid to pressure the nation to investigate his political rival. 

Yet on coronavirus, the gap between the frontlines and Pelosi has only widened in recent days, as her moderate members call to reopen talk and pass legislation closer-aligned to what Republicans would accept. 

The matter will come to a head in a matter of days. Congress is set to leave town the first week of October and not return until after the election. Pelosi, in a nod to the pressure from moderates, has vowed that the House won’t adjourn until they pass something addressing he virus. But the promise was vague and perhaps a bit misleading: The House can technically stay in session even if members return home to their districts, on standby to come back to Washington to vote if needed – and Pelosi hasn’t committed to making members physically stay in town. 

Some moderates hope Pelosi will come around and make a deal — particular now that the Problem Solvers Caucus has laid out a bipartisan blueprint. 

“It seems like all sides are willing to go back to the table to get something done,” said Rep. Josh Gottheimer, D-N.J., the leader of the Problem Solvers Caucus who helped negotiate their recent proposal. “It’s unconscionable to go home before the election without helping families and small businesses, and I think there’s a deep recognition that now, at this point, that it’s simply impossible to go home without getting something done.” 

Some senior Democrats agree House Democrats’ current position is untenable. Pelosi’s No. 2, House Majority Leader Steny Hoyer, D-Md., has already made clear that he is sympathetic to the frontliners’ concerns. Those close to him believe he would be fine with having a vote on another package before they leave town, even if it’s smaller than the plan Pelosi wants. 

But the speaker has been known for her iron grip on her caucus — and despite the standoff with her frontliners, that has not diminished. 

In a news conference on Thursday, Pelosi once again touted House Democrats’ $3.4 trillion coronavirus relief package that passed the House in May, chiding the president for not doing enough to save the hundreds of thousands of American lives that have been lost amid the pandemic. 

“It didn’t have to be that way,” she said solemnly – a sign blaring the name of the House’s coronavirus relief package — “Heroes Act” — in bright blue and white lettering before the podium. 

When asked about moderates wanting her to put a new, perhaps smaller proposal on the floor, Pelosi bristled, arguing that “they didn’t say it to me.” 

“I’m very proud of the dynamism in our caucus,” she said of the lively debate. 

Some Democrats are happy with Pelosi’s positioning. Trump’s insistence that he is willing to increase the price of the package, they argue, is proof that her tactics are having results. 

“It sounds like it’s working pretty well,” said Rep. Mary Gay Scanlon, D-Pa., praising the speaker for her tough line. 

But telling that to some Democrats facing difficult reelections is another matter entirely. 

“We’re back home and every place I go people are like, ‘what’s the status of the new covid deal? Like where is it?'” said Rep. Elissa Slotkin, D-Mich., who faces a tough reelection in a Trump-carried district. “And that’s business owners wanting another [small business aid] law and that’s our food banks. That’s our teachers. I mean, it’s everybody.” 

Gold price rises in Thailand despite fall in US market #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price rises in Thailand despite fall in US market

EconSep 18. 2020

By The Nation

The price of gold rose by Bt50 per baht weight in morning trade on Friday (September 18), the Gold Traders Association reported.

As of 9.26am, the buying price of a gold bar was Bt28,650 per baht weight and selling price Bt28,750 while gold ornaments were priced at Bt28,136.96 and Bt29,250, respectively.

At close on Thursday, the buying price of a gold bar was Bt28,600 per baht weight and selling price Bt28,700, while gold ornaments were priced at Bt28,091.48 and Bt29,200, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$20.6, or 1.05 per cent, closing at $1,949.9 (Bt60,758.09) per ounce on Wednesday.

Gold price closed in negative territory on Thursday, as investors were disappointed with US Federal Reserve’s move. Although the central bank indicated it would maintain the interest rate at a low level for three years, it did not reveal any measures to stimulate the economy.

Hong Kong gold price rose by HK$70, opening at $18,030 (Bt72,471.45) per tael on Friday morning, the Chinese Gold and Silver Exchange Society reported.

SET rises, but political unrest and FTSE rebalancing casts shadow #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises, but political unrest and FTSE rebalancing casts shadow

EconSep 18. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 4.76 points, or 0.37 per cent, to 1,289.16 in the morning session on Friday (September 18).

An analyst at Krungsri Securities expected the index to fluctuate between 1,275 and 1,295 despite the oil price that rose over US$40 per barrel.

“The student protesters’ political rally tomorrow [Saturday] and the FTSE’s index rebalancing,which would be effective Friday evening, would cause volatility in the SET,” he said.

He recommended that investors buy:

▪︎ Stocks whose third-quarter performance will improve, such as TU, ASIAN, COM7, CHG, PTG and PLANB.

▪︎ Stocks that will benefit from the rising oil price, such as PTTEP, TOP and PTTGC.

The SET Index closed at 1,284.40 on Thursday (September 17), down 9.08 points or 0.70 per cent. The volume of total transactions was Bt46 billion with an index high of 1,292.42 and a low of 1,280.11.

The index fell in line with foreign stock markets due to uncertainty about the global economic recovery after the US Federal Reserve indicated it would maintain the interest rate at a low level for three years.

Stocks slump most in week; Treasury bonds gain #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Stocks slump most in week; Treasury bonds gain

EconSep 18. 2020

By Syndication Washington Post, Bloomberg · Vildana Hajric, and Claire Ballentine · BUSINESS, US-GLOBAL-MARKETS 

U.S. stocks fell and Treasurys gained as investors mulled whether the levels of stimulus being provided is enough amid a gradual economic recovery.

U.S. stocks fell and Treasurys gained as investors mulled whether the levels of stimulus being provided is enough amid a gradual economic recovery.

The benchmark S&P 500 dropped for a second day, though it found some support after bouncing off its 50-day moving average. Technology shares were the biggest decliners, with Apple Inc., Facebook Inc. and Microsoft Corp. weighing on the Nasdaq Composite.

Investors snapped up long-term Treasurys, capturing a brief spike higher in yields following the Federal Reserve’s policy decision Wednesday. Although Fed Chair Jerome Powell said the central bank will remain accommodative after relaxing its inflation policy, he didn’t provide clarity as to just how high it can go and for how long. That, along with the lack of fresh details on the Fed’s plans for its bond-buying program, sparked long-end demand.

“It remains to be seen how the long-term projection of near zero interest rates and more free-flying inflation will actually play out for the economy,” said Mike Loewengart, managing director of investment strategy at E*Trade Financial Corp. “The somewhat dour tone from the Fed could weigh on investors.”

Meanwhile, the number of Americans applying for jobless benefits resumed its decline. Continuing claims also fell by almost 1 million in the week ended Sept. 5.

All eyes remain on central bankers and their role in propping up economies still reeling from the coronavirus shock. Bank of England policymakers said they were exploring negative rates to counter ongoing risks to the labor market after voting unanimously to maintain their key interest rate at 0.1%, causing the pound to slide to an intraday low and pushing gilts higher. Earlier the Bank of Japan kept its asset-purchases and bond-yield targets in place.

Recent flare-ups of the virus and a fading post-pandemic recovery have renewed calls for more fiscal support as well. Fed officials have stressed in recent weeks that the U.S. recovery is highly dependent on the nation’s ability to better contain infections, and that further fiscal stimulus is likely needed to support jobs and incomes.

“Consumer sentiment data and the employment picture still reflect a fragile economic recovery,” said Matt Miskin, co-chief investment strategist at John Hancock Investments. “Powell did not bring up the need for further fiscal support multiple times yesterday just for the sake of it. Monetary policy has its limits, the lack of fiscal policy support leaves significant risks to this recovery.”

Elsewhere, crude oil climbed above $40 a barrel. Natural gas prices tumbled the most in almost two years after a bigger than expected increase in stockpiles revived concerns that the glut of the fuel will increase. Gold declined.

These are some of the main moves in markets:

Stocks

The S&P 500 Index declined 0.8% to 3,357.02 as of 4:02 p.m. EDT, the largest drop in a week.

The Dow Jones industrial average fell 0.5% to 27,901.71, the first retreat in a week.

The Nasdaq Composite Index fell 1.3% to 10,910.28, the largest drop in a week.

The Nasdaq 100 Index sank 1.5% to 11,080.95, the lowest in more than a week.

The Stoxx Europe 600 Index decreased 0.5% to 371.23, the first retreat in a week.

Currencies

The Bloomberg Dollar Spot Index sank 0.3% to 1,160.88, its fifth straight decline and the biggest dip in more than a week.

The British pound was little changed at $1.2971, the strongest in more than a week.

The euro increased 0.3% to $1.1847.

The Japanese yen appreciated 0.2% to 104.70 per dollar, the strongest in about six months.

Bonds

The yield on 10-year Treasurys fell one basis point to 0.69%, the biggest drop in a week.

The yield on 30-year Treasurys declined three basis points to 1.43%, the largest drop in a week.

Germany’s 10-year yield fell one basis point to -0.49%, the lowest in more than a week.

Britain’s 10-year yield dipped three basis points to 0.185%.

Commodities

West Texas Intermediate crude climbed 2.3% to $41.08 a barrel, the highest in two weeks.

Gold weakened 0.6% to $1,948.03 an ounce, the largest decrease in two weeks.

Natural gas fell 12.1% to $1.99 per mmBtu, the lowest in almost seven weeks.

Good time to buy tech stocks cheaply for long-term investment #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Good time to buy tech stocks cheaply for long-term investment

EconSep 18. 2020

By The Nation

Krungsri Asset Management believes technology shares will not hit the lowest point despite the mass sell offs when the Nasdaq Index rose sharply recently.

Nasdaq, which is mainly made up of technology shares, rose by 35.31 per cent on September 2, the highest since the beginning of the year.

The index then suffered mass sell-offs for three consecutive days, causing it to fall by approximately 10.34 per cent, led mainly by FANGMAN (+T) stocks, namely Facebook, Apple, Netflix, Google, Microsoft, Amazon, Nvidia and Tesla. The index on Thursday (September 17) remained in the negative territory.

Jaturan Sornvai, Krungsri Asset Management’s director of global investments, said technology shares will not enter a critical stage like the dotcom bubble crisis in 2001, because technology shares have good fundamentals and sustainable growth.

“Technology stocks were also able to escape the impact of Covid-19 because people needed to rely on technology in the ‘new normal’,” he said.

“Since growth in technology shares was higher than in other industries, and several investors bought these shares via Exchange Traded Funds or other mutual funds, the price of technology shares will rise further in the long term.”

Hence, he said, this is the right time to buy technology shares cheaply for long-term investment.

He added that there may be two reasons why investors decided to sell off their tech shares:

• Investors’ hope for a Covid-19 vaccine to be ready by September;

• Nasdaq Index went into correction mode to cope with volatility ahead of the US presidential election in November. Based on statistics, the US stock index is expected to fall for three months before the US elections.

In the short term, he said, the company believes the Nasdaq Index may opt for “risk-off” mode due to three factors:

• The price of gold and Nasdaq began moving in different directions, unlike before when the price of gold used to fall in line with the index;

• The Volatility Index (VIX) rose significantly from 26.57 on September 2 to 31.46 on September 8;

• The Dollar Index (DXY) fell continuously since March after the US Federal Reserve injected liquidity into the system via quantitative easing. The DYX rose recently from 92.73 on September 3 to 93.44 on September 8, proving that investors have returned to buying the dollar as a safe-haven asset, thereby strengthening the currency.

“Hence, the company believes these factors will cause cash to flow into safe-haven assets, while technology shares will suffer more volatility than before,” he added.

U.S. jobless claims resume drop in sign of gradual improvement #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

U.S. jobless claims resume drop in sign of gradual improvement

EconSep 17. 2020Pedestrians pass in front of customers sitting outside at a restaurant in in the Queens borough of New York on June 27, 2020. MUST CREDIT: Bloomberg photo by Amir Hamja.
Photo by: Amir Hamja — Bloomberg
Location: New York, United StatesPedestrians pass in front of customers sitting outside at a restaurant in in the Queens borough of New York on June 27, 2020. MUST CREDIT: Bloomberg photo by Amir Hamja. Photo by: Amir Hamja — Bloomberg Location: New York, United States

By Syndication The Washington Post, Bloomberg · Katia Dmitrieva

The number of Americans applying for jobless benefits resumed its decline, signaling a gradual improvement in the battered labor market.

Jobless claims in regular state programs decreased by 33,000 to 860,000 in the week ended Sept. 12, which coincides with the reference period for the government’s monthly jobs report, according to Labor Department figures released Thursday. Continuing claims, the total number of Americans on state benefit rolls, fell by almost 1 million, to 12.6 million, in the week ended Sept. 5.

Economists expected initial claims of 850,000 and continuing claims of 13 million, according to median estimates in a Bloomberg survey.

The decline in the number of Americans seeking financial help after losing work is a welcome sign that the economic rebound is still grinding forward despite a struggle to contain the coronavirus. At the same time, overall claims remain historically high, and the continuing stalemate over a new round of federal stimulus is squeezing millions of people after supplemental benefits expired in July and another temporary program started to run out of funds.

U.S. stock futures remained lower following the data, while 10-year Treasurys and the dollar maintained gains.

Federal Reserve Chairman Jerome Powell said Wednesday that while the central bank welcomes the drop in unemployment over the last four months, the jobless rate remains elevated at 8.4% and “we will not lose sight of the millions of Americans who remain out of work.” He spoke after the central bank signaled it would keep interest rates near zero for at least three more years.

Another positive sign in Thursday’s report: reported filings in a federal program called Pandemic Unemployment Assistance decreased for the first time in five weeks, to about 659,000 from 868,000, according to unadjusted figures. This program is available for those not usually covered in regular state programs, including the self-employed and gig workers.

SET pulled down by gloomy US forecast, expected Thai political unrest #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET pulled down by gloomy US forecast, expected Thai political unrest

EconSep 17. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,284.40 today (September 17), down 9.08 points or 0.70 per cent. The volume of total transactions was Bt46 billion with an index high of 1,292.42 and a low of 1,280.11.

During the morning session, an analyst at Krungsri Securities said he expected the index to fluctuate between 1,285 and 1,300 points.

The index gained positive sentiment from the US Federal Reserve’s move to maintain the interest rate at 0-0.25 per cent until 2023 and boost its gross domestic product forecast from minus 6.5 per cent to minus 3.7 per cent.

The price of oil rose more than 4 per cent as US oil stocks dropped by 4.4 million barrels, far more than the 1.8 million barrels expected by the market, while Hurricane Sally brought US oil production in the Gulf of Mexico down by as much as 27.5 per cent.

However, the analyst said the US Fed’s gloomy long-term economic forecast and the student-led political rally scheduled for Saturday (September 19) in Thailand will pressure the index.

The top 10 stocks with the highest trade value today were TASCO, KBANK, AOT, KCE, PTT, STGT, ADVANC, BBL, DELTA and MINT.

As of 4.30pm, the price of oil had dropped by US$0.25 or 0.62 per cent to $39.91 per barrel, while gold dropped by $25.20 or 1.28 per cent, to $1,945.30 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,319.37, down 156.16 points or 0.67 per cent.

China’s Shanghai SE Composite Index closed at 3,270.44, down 13.49 points or 0.41 per cent, while Shenzhen SE Component Index closed at 13,015.19, up 3.91 points or 0.030 per cent.

Hong Kong’s Hang Seng Index closed at 24,340.85, down 384.78 points or 1.56 per cent.

South Korea’s KOSPI Index closed at 2,406.17, down 29.75 points or 1.22 per cent.

Taiwan’s TAIEX Index closed at 12,872.74, down 104.02 points or 0.80 per cent.

Rules set for digital personal loans #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Rules set for digital personal loans

EconSep 17. 2020

By The Nation

People who lack regular income and access to financial services will be able to get digital personal loans of up to Bt20,000 under new Bank of Thailand (BOT) rules announced on Thursday.

BOT governor Veerathai Santiprabhob said that digital lenders will use records of utility bill payment, income or online shopping patterns to evaluate borrowers’ debt-payment capacity.

The loan providers must also apply technology for lending and debt collection, and disclose details such as interest rates, penalty rates, service fees and debt obligations.

Each customer can borrow up to Bt20,000 in total but the debt must be repaid within six months. Borrowers can use the loan for any purpose. The combined interest rate, fine and service fee must not exceed 25 per cent annually.

Digital personal loans would give people who lack regular income and collateral access to financial services, according to the central bank.

Digital lenders could propose their services to the BOT, said the bank.

The loans should help soften the economic impact of Covid-19 on the poorest section of the population. 

Smartphone market wakes up as Apple announces plans to launch new products #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Smartphone market wakes up as Apple announces plans to launch new products

EconSep 17. 2020

By The Nation

The smartphone market was buzzing again after Apple announced it was launching new products, including Apple Watch Series 6, iPad Air 4 and iPhone 12 later this year.

The sale of smartphones had dropped after many countries went into lockdown due to Covid-19 and China, the main supplier, decided to hold off on smartphone production and delivery.

In the first quarter of this year, large smartphone distributors suffered as sales dropped. Sale of Samsung phones dropped by 22.7 per cent, Huawei by 27.3 per cent and Apple by 8.2 per cent. Things began picking up in the second quarter after countries began easing lockdown measures and Apple’s performance rose by 25 per cent.

Meanwhile in China, smartphone sales rose and demand for iPhone SE2020 and Apple One, which integrates all of Apple’s services in one app, increased, which had a positive effect on the shares of IT product distributors and IT electronic parts manufacturers.

In Thailand, Apple distributor Com7’s second-quarter profits stood at Bt275 million, down 6.7 per cent year on year due to lockdown, though demand for IT products rose as more people began working from home and schools started teaching online.

Smartphone and equipment distributor Jaymart made a profit of Bt265 million in the second quarter, the highest this year. Another IT products distributor, Synnex, made Bt166 million in the second quarter, marking a 40 per cent increase year on year.

An analyst at Finansia Syrus Securities said Hana Microelectronics had also benefited from the increase in smartphone sales as it is part of the smartphone and consumer product supply chain.

“Meanwhile, we expect Synnex’s profits this year and next year to rise by 6 per cent and 17 per cent year on year respectively thanks to the rise in demand for IT products and the launch of iPhone 12. Investors are advised to buy at a target price of Bt16 per share,” the analyst said.

Fed’s gloomy US economic forecast, Thai political unrest pressure SET #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Fed’s gloomy US economic forecast, Thai political unrest pressure SET

EconSep 17. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index fell by 2.89 points, or 0.22 per cent, to 1,290.59 in the morning session today (September 17).

An analyst at Krungsri Securities expected the index to fluctuate between 1,285 and 1,300 points.

The index gained positive sentiment from the US Federal Reserve’s move to maintain the interest rate at 0-0.25 per cent for three years until 2023 and increase its Gross Domestic Product forecast from minus 6.5 per cent to minus 3.7 per cent.

Also, the price of oil rose more than 4 per cent as US oil stocks dropped by 4.4 million barrels, much more than the 1.8 million barrels expected by the market, while Hurricane Sally caused US oil production in the Gulf of Mexico to drop as much as 27.5 per cent.

However, the analyst said the US Fed’s gloomy long term economic forecast and the student political rally scheduled for Saturday (September 19) in Thailand will pressure the index.

He recommended investors buy:

> Stocks whose third-quarter performance would improve, such as TU, Asian, Com7, CHG, PTG and PlanB.

> Stocks that benefit from the rising oil price, such as PTTEP, Top and PTTGC.

The SET Index closed at 1,293.48 yesterday, up 7.30 points, or 0.57 per cent. Total transactions amounted to Bt52.70 billion, with an index high of 1,295.80 points and a low of 1,284.09.