#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET dips after Finance minister tenders resignation

EconSep 01. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,305.57 today (September 1), down 5.09 points or 0.39 per cent. Total transactions amounted to Bt48.635 billion with an index high of 1,316.68 and a low of 1,301.014.

The index fell into negative territory following news that Finance Minister Predee Daochai had tendered his resignation less than a month after taking the post, citing health problems.

In the morning session, an analyst at Krungsri Securities expected the index to drop to between 1,300 and 1,305 due to lack of positive sentiments to boost investment.

“Also, the index would be under pressure from the slump in the US Dow Jones Index, which fell sharply by 224 points after China implemented new rules on technology exports,” the analyst said.

“This negative sentiment caused [China’s] ByteDance to request approval from [Beijing] before selling its TikTok business to the US, resulting in mass sell-offs in stocks which had aimed to buy the TikTok business, such as Microsoft, Walmart and Oracle.”

The analyst added that foreign investors’ mass sell-off of Thai shares also pressured the index.

The 10 stocks with the highest trade value today were CPF, BAM, KBANK, CPALL, MINT, SCC, PTT, BBL, ICHI and AOT.

As of 4.30pm, the price of oil rose by US$0.45 or 1.06 per cent to $43.06 per barrel, while gold rose by $16.50 or 0.83 per cent, to $1,995.10 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,138.07, down 1.69 points or 0.0073 per cent.

China’s Shang Hai SE Composite Index closed at 3,410.61, up 14.93 points or 0.44 per cent, while the Shenzhen SE Component Index closed at 13,849.66, up 91.43 points or 0.66 per cent.

Hong Kong’s Hang Seng Index closed at 25,184.85, up 7.80 points or 0.031 per cent.

South Korea’s KOSPI Index closed at 2,349.55, up 23.38 points or 1.01 per cent.

Taiwan’s TAIEX Index closed at 12,703.28, up 111.83 points or 0.89 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Second Covid-19 wave may hinder economic recovery: BOT

EconSep 01. 2020

By The Nation

The threat of a second-wave of Covid-19 infections may delay economic recovery despite latest indicators showing signs of improvement, the central bank said.

Though the economy was better than expected in June and July, it is too early to predict that it will do better than the estimated 8.1 per cent contraction, due of the threat of a second-wave of infections, said Don Nakornthab, senior director of the Bank of Thailand. 

There has been a recent spike in new cases in several Asean countries, while Thailand is imposing more restrictions on border crossings. 

Tourist arrivals is expected to be lower than the 8 million initially forecast for this year, he said, pointing out that there have been only 6.7 million arrivals this year. Recovery of the tourism sector is expected to be delayed until next year. The central bank believes there will be 16 million tourists next year, though the Tourism and Sports Ministry has only predicted 12 million. 

He said the best way to deal with this downturn is for the government and the public to learn how to live with Covid-19. He said Thailand should open to tourists and business activity should resume if there are no more than 20 new cases in the country. 

Economic indicators in July showed continued recovery from June, while public and state enterprise spending expanded 50 per cent and 17.2 per cent respectively. 

Meanwhile, consumer spending only contracted by 0.1 per cent in July, far better than the 4.5 contraction in June. Exports also did slightly better, dropping 11.9 per cent compared to the 24.6 per cent fall in June. 

However, private investment dropped further to 12.8 per cent in July compared to the 10.2 per cent drop in the previous month. Thailand’s manufacturing sector has gone beyond its capacity, especially in terms of machinery and parts. 

The labour market, meanwhile, remains fragile and has shown few signs of improvement. So far, 27 per cent of workers who have lost their jobs have put in for unemployment benefits with the social security system. 

Don said that though there is a large number of people who are still employed, their income has dropped drastically and measures should be put in place to look after them. 

Meanwhile, the country’s economic stability is solid. The country’s current account deficit worth US$247 million in June turned into a $1.8-billion surplus in July thanks to the export of gold. If gold exports are not included, the surplus was $300 million, because capital began flowing back into the Kingdom. 

The Thai currency weakened in July but rebounded in August. Headline inflation remained in the negative territory, but at the smaller figure of minus 0.98 per cent in July, which is a good sign as it indicates that the deflation threat has weakened. 

He added that the negative inflation rate will be a lower due to rising oil prices and economic recovery.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises slightly, but worries over US-China conflict cast shadow

EconSep 01. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 2.45 points, or 0.19 per cent, to 1,313.11 in the morning session on Tuesday (September 1).

An analyst at Krungsri Securities expected the index to fall between 1,300 and 1,305 due to lack of positive sentiment to boost investment.

“Besides, the index would be under pressure from the slump in the US Dow Jones Index that fell sharply by 224 points after China implemented new rules on technology exports,” the analyst said.

“This negative sentiment caused ByteDance to request approval from their country before selling the TikTok business to the US, resulting in mass sell-offs in stocks which aimed to buy the TikTok business, such as Microsoft, Walmart and Oracle.”

The analyst added that foreign investors’ mass sell-off of Thai shares also pressured the index.

He recommended that investors buy stocks whose third-quarter performance would improve, such as CPF, GFPT, TU, Asian, KCE, Hana, Delta, HMPro, Global, DoHome, Com7, JMT, CHG, BCH, PTG, PlanB, CBG and Tasco.

The SET Index closed at 1,310.66 yesterday (August 31), down 12.65 points or 0.96 per cent. Total transactions amounted to Bt54.005 billion with an index high of 1,333.30 and a low of 1,308.73.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Weakening dollar pushes gold price up

EconSep 01. 2020

By The Nation

The price of gold rose by Bt250 per baht weight in morning trade on Tuesday (September 1), the Gold Traders Association reported.

As of 9.27am, the buying price of a gold bar was Bt29,000 per baht weight and selling price Bt29,100, while gold ornaments were priced at Bt28,470.48 and Bt29,600, respectively.

At close on Monday (August 31), the buying price of a gold bar was Bt28,750 per baht weight and selling price Bt28,850 while gold ornaments were priced at Bt28,227.92 and Bt29,350, respectively.

Ths Chinese Gold and Silver Exchange Society has reported that Hong Kong gold price rose by HK$80, opening at $18,190 (Bt72,808.60) per tael this morning.

Comex (Commodity Exchange) gold price for delivery in December rose by US$3.7, or 0.19 per cent, closing at $1,978.6 (Bt61,379.39) per ounce on Monday.

Gold price closed in positive territory from the weakening dollar and US Federal Reserve’s policy to maintain the interest rate at a low level.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

EEC on track to meet Bt1.7tn investment target despite virus crisis

EconSep 01. 2020Kanit Sangsubhan, EEC Office secretary-general 

By The Nation

The Eastern Economic Corridor (EEC) Policy Committee is still confident that the investment in the government’s flagship infrastructure project will meet the target of Bt1.7 trillion in 2022, despite the impact of the Covid-19, said Kanit Sangsubhan, EEC Office secretary-general.

Investment in the corridor, which spans Chonburi, Rayong, Chachoengsao provinces, has reached Bt900 billion – half of the targeted total.

However, the applications to invest this year are expected to be low due to the virus crisis fallout before recovering next year as the situation improves.

EEC investment applications for the first half 2020 totalled 225, with combined worth of Bt85.480 billion. Chonburi saw 120 applications worth Bt39 billion, Rayong saw 76 applications worth Bt33.32 billion, and the remainder were for Chachoengsao.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Experts tip BAM shares as good buy

EconSep 01. 2020

By The Nation

Experts see good value in Bangkok Commercial Asset Management (BAM) shares, as mutual funds buy up the stock on expectations of a second-half recovery for Thailand’s largest manager of distressed assets.

BAM shares closed at Bt23.30, down Bt1.20 or 4.30 per cent on Monday (August 31) after a disappointing second-quarter performance.

Thanatphat Suksrichavalit, an analyst at Maybank Kim Eng Securities (Thailand), said BAM shares dropped after its Q2 performance was lower than market expectations of 80 per cent.

The decline was due mainly to the Covid-19 fallout and changes in financial reporting standards that meant the company was unable to recognise revenue despite cash flowing in.

“In fact, BAM was still able to generate cash flow of about Bt2.7 billion. Although it was 6 per cent down year on year and 14 per cent down quarter on quarter, it was still higher than the 20 per cent drop expected by the market,” said the analyst.

He forecast BAM’s performance would recover to its first-quarter level now that the Legal Execution Department has reopened after the Covid-19 lockdown, allowing the BMA to resume auctioning off its non-performing assets [NPAs].

“We found signs of NPA sales growth after the company held an [assets] auction in June,” he added.

“As the company is not facing cash flow difficulties, we expect it to pay a dividend of Bt1 per share as the market expects.”

Anuwat Srikajornratkul, an analyst at Capital Nomura Securities, said this was an opportunity to gradually buy BAM shares, given that mutual funds are aiming to buy them despite the weak Q2 performance.

“We judge that performance has already bottomed out, but an important risk factor is high expectation in the market as most analysts are waiting for additional information from the company,” he said.

“We have cut its share price forecast from Bt29.50 to Bt27.50 per share as its performance for the rest of this year is expected to be unchanged.”

Tanapat Chatsatien, an analyst at Trinity Securities, said the drop in BAM’s Q2 performance was caused by the temporary closure of the Legal Execution Department.

“The company’s revenue is expected to increase after the Legal Execution Department reopened in June, while the company is offering discounts on its Non-Performing Assets [NPAs] to stimulate sales,” he said.

He added that BAM shares were attractive because the price had dropped sharply but company profit in the rest of this year is expected to recover.

“We have kept the company’s 2021 share price forecast at Bt28.50 per share,” he said.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Korat trams to start running in 2025

EconAug 31. 2020

By The Nation

Nakhon Ratchasima should have electric trams by 2025, said Mass Rapid Transit Authority of Thailand (MRTA) deputy governor Theeraphan Tachasirinugune today, during the second market sounding for the city’s Green Line route.

The study of the system, which features 21 stations, should be ready to be presented to the MRTA board this year before being proposed to Cabinet. Bidding for private companies to jointly invest in the project is expected by the middle of next year.

Construction is scheduled to begin in 2022 before the system launches operations in 2025. Successful bidders will be offered a 30-year concession for operation.

The project will cost Bt7.11 billion, of which Bt2.2 billion is for the civil works, Bt2.2 billion for the tram system, Bt995 million for procurement of 10 trams, and B176 million for hiring a consultant. Yield is estimated at 13.11 per cent with a break-even point in the 11th year.

The winning bidder will gain revenue from ticket fare collection and commercial activities such as leasing advertising space in stations.

Fares will be set at Bt11 to Bt21.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET drops almost 1% despite US Covid injection, Fed boost

EconAug 31. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,310.66 today (August 31), down 12.65 points or 0.96 per cent. Total transactions amounted to Bt54.005 billion with an index high of 1,333.30 and a low of 1,308.73.

In the morning session, an analyst at Krungsri Securities expected the index to rise to between 1,330 and 1,335 in response to news that US President Donald Trump will sign the US$1.3-trillion Covid-19 relief bill, before falling back.

“Meanwhile, the market gained positive sentiment from the Federal Reserve’s move [last Thursday] to change its approach to inflation to support the US economy,” the analyst said.

The 10 stocks with the highest trade value today were BAM, KBANK, SCC, MINT, PTT, CPALL, CPF, BBL, ADVANC and CRC.

As of 4.30pm, the price of oil rose by US$0.45 or 1.05 per cent to $43.42 per barrel, while gold fell by $6.10 or 0.31 per cent, to $1,968.80 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,139.76, up 257.11 points or 1.12 per cent.

China’s Shang Hai SE Composite Index closed at 3,395.68, down 8.13 points or 0.24 per cent, while the Shenzhen SE Component Index closed at 13,758.23, down 93.10 points or 0.67 per cent.

Hong Kong’s Hang Seng Index closed at 25,177.05, down 245.01 points or 0.96 per cent.

South Korea’s KOSPI Index closed at 2,326.17, down 27.63 points or 1.17 per cent.

Taiwan’s TAIEX Index closed at 12,591.45, down 137.40 points or 1.08 per cent.