The Stock Exchange of Thailand (SET) is preparing to rebalance stock market trading by accelerating the expansion of the retail investor base and disclosing more short-selling transaction information to restore investor confidence. As a result, the proportion of foreign investor trading in the market has increased, while trading among other investor groups decreased, he told a media briefing. Five years ago, foreign investors accounted for 42% of trading, and institutions and brokers accounted for more than 10% of trading. Mr Pakorn said the SET and the Securities and Exchange Commission have not noticed any unusual short-selling trading volume. "Short-selling transactions on the Thai stock market were still normal and such figures can be checked everyday," he said.
November 16, 2023 02:48 UTC
Company expects to benefit from higher global demand for polymers and improved production efficiencyThe PTT Global Chemical plant in the eastern province of Rayong. The company believes it will sell more polymers next year as the petrochemical industry outlook improves. (Photo: PTTGC)PTT Global Chemical Plc (PTTGC), Thailand’s largest petrochemical producer by capacity, expects sales of its products to rise by 10% in 2024, up from a projected 17 million tonnes this year, attributed to higher demand in some overseas markets. Mr Kongkrapan believes both commodity-grade polymers and specialty polymers will record higher sales next year. So far, the cost and production efficiency measures have already helped the company cut expenses by 8 billion baht.
November 15, 2023 16:11 UTC
The government is consulting the Council of State about the legality of a bill seeking to borrow 500 billion baht to finance the 10,000-baht digital money handout scheme. Deputy Prime Minister Phumtham Wechayachai said on Tuesday the bill has been sent to the council, the government's legal advisory body. "We will try to ensure the council finishes its consideration as soon as possible," he said while acknowledging the scheme has its supporters and critics. Some coalition parties remain non-committal about the handout, saying they would wait for the Council of State's verdict first. "If the handout scheme benefits the public and is in line with the law, the coalition parties are duty-bound to support it.
November 15, 2023 03:57 UTC
With the wars in Gaza and Ukraine exacerbating global divisions, an even more profound geopolitical reconfiguration -- including a shift to a new world order -- may well be in the works. Though the current system is often referred to in neutral-sounding terms such as the "rules-based global order", it is undoubtedly US-centric. When it comes to creating an alternative world order, the current conflict-ridden environment may work in China's favour. Yet more forces and trends are making fundamental changes to the global order more likely. Though the details are impossible to know, a fundamental global geopolitical rebalancing now appears all but inevitable.
November 14, 2023 14:44 UTC
B10,000 handout may face legal roadblocksDeputy Finance Minister Julapun Amornvivat speaks to supporters of the digital wallet scheme at the headquarters of the Pheu Thai Party last month. "If we don't do anything and allow the government's public debt to exceed 70%, it would derail the country’s credit rating," said Mr Julapun. By the end of this year, it may be less than 2.5%, said Mr Julapun. The tax refund depends on each person's tax base, he said. For consumers with the highest tax rate of 35%, they are eligible for a tax refund of 17,500 baht.
November 14, 2023 04:04 UTC
Baht declines as investors baulk at lack of fiscal disciplineA man visits a currency exchange booth last year. (File photo: Somchai Poomlard)The baht weakened to below 36 to the dollar on Monday as renewed concerns surfaced over Thailand’s fiscal discipline, following the government’s announcement on its digital wallet scheme on Friday, leading to outflows from Thai bond and stock markets, according to analysts. On Friday, foreign investors were net sellers of 3.75 billion baht in the Thai bond market, while they posted a net outflow of 2.39 billion baht from the Stock Exchange of Thailand, said K-Research. Poon Panichpibool, market strategist at Krungthai Bank (KTB), said concerns over Thailand’s fiscal stability and US interest rates are factors that could pressure the baht to weaken further, while foreign fund flows may fluctuate. KTB anticipates the baht could move in a range of 35.60-36.30 to the dollar this week, said Mr Poon.
November 13, 2023 23:31 UTC
Met says hat, coat and brolly weather to comeThe temperature in Thailand is expected to drop on Tuesday, indicating the arrival of the cool season. From Tuesday, a moderate to strong cool front from the north will sweep through the upper part of the country, accompanied by strong winds. After that the temperature will start to drop, marking the arrival of the cool season around Thursday. People in the southern region should brace themselves for heavy rainfall and strong waves, the agency warned. According to the department, this year's cool season will arrive late, about two weeks later than usual.
November 13, 2023 04:04 UTC
Djokovic top of the world after sinking Rune at ATP FinalsNovak Djokovic is guaranteed to be world number one at the end of 2023. TURIN (ITALY) - Novak Djokovic will finish the year as world number one for a record-extending eighth time after beating Holger Rune 7-6 (7/4), 6-7 (1/7), 6-3 in his opening match at the ATP Finals on Sunday. Djokovic, on a run of 19 straight wins, has had an age-defying year, winning three Slams to become the all-time record winner of major titles. The 36-year-old came into the Finals in Turin off the back of his seventh triumph at the Paris Masters, his 40th victory at a Masters 100 event. On Monday Alcaraz makes his ATP Finals debut in the Red Group against Alexander Zverev, the second seed Djokovic's closest challenger.
November 13, 2023 02:34 UTC
Prime Minister Srettha Thavisin, followed by Bank of Thailand governor Sethaput Suthiwartnarueput, right, enters a meeting, which he chairs on the 10,000-baht digital wallet handout scheme at Government House last month. The government said it would seek to pass a bill allowing it to borrow 500 billion baht to fund the scheme. However, Ms Sirikanya said she thought authorities would find the bill unconstitutional and contrary to financial and budgetary discipline law. The money which will be injected through the handout scheme will be distributed fairly to the grassroots, not to certain groups as some sides claimed, Mr Danuporn said. Somkit Didaeng, 56, a bamboo shoot seller in the province, said she didn't like the fact that the digital money can't be used to repay a debt.
November 12, 2023 16:48 UTC
Israeli films Thai worker's Isan funeral after movie script comes trueJonatan, an Israeli filmmaker, at the funeral of Settha Homesorn, a Thai worker killed in Israel, at Settha's home village in Muang district, Nakhon Phanom province. The Thai worker, Settha Homesorn, 36, was one of 39 Thais confirmed killed in the Hamas attack. On Saturday, an Israeli man who identified himself as Jonatan, 30, arrived at the funeral, to the surprise of the local people. Through an interpreter, Mr Jonatan said he is the producer of a short film featuring the lives of Thai workers who work in agricultural farms in the area near the Gaza Strip. The Israeli filmmaker said he was very sad, but in order to complete the film, he came to Thailand to film Settha's funeral.
November 12, 2023 06:49 UTC
Thais continue to embrace mobile devices to manage the cost of living and increase revenue, while some are optimistic about generative artificial intelligence (AI), according to a Telenor Asia study. Thais are upbeat on the use of mobile devices as they have one of the best mobile networks in the region and affordable prices, said Petter-Børre Furberg, executive vice-president and head of Telenor Asia, citing the company's Digital Lives Decoded study. Amid an inflationary environment, Thais are also using their mobile devices to manage rising costs of living, noted the study. An overwhelming 93% use their mobile devices for banking or financial management weekly, and 55% are making investments online to create new revenue streams. Despite their love of mobile devices, Thais were the least concerned about privacy and security on their phone.
November 11, 2023 21:14 UTC
Van driver did not drug and rape girl: policeKHON KAEN: An investigation found an allegation made by the family of a 13-year-old girl, accusing a van driver of drugging and raping her, was groundless. Police said on Friday that the girl was not drugged and raped by the van driver, whose name was withheld. On Monday, the van driver surrendered to Waeng Noi police in Khon Kaen, insisting on his innocence. The family filed a complaint with the police against the van driver on Nov 3 after seeing the victim's behaviour change on Oct 31 when she met the same driver. "The girl admitted to investigators that nothing happened," said Pol Maj Gen Anuwat.
November 11, 2023 17:42 UTC
'Too early to judge govt': DPMPhumtham: '100 is the magic number'Deputy Prime Minister Phumtham Wechayachai hit back at criticism that the government's first 60 days in office had seen little improvement in the economy or helped reduce the cost of living. We will provide a full update on our work and plans when we have completed 100 days in office," he said. Asked if the prime minister preferred to work alone rather than delegate duties, Mr Phumtham said the prime minister has already assigned a full set of responsibilities to his six deputies. When asked about comments made by opposition parties, Mr Phumtham shrugged of the criticism as predictable. On Thursday evening, Prime Minister Srettha hosted a television special titled "From Policy to Action in 60 Days".
November 11, 2023 12:28 UTC
Many critics are also questioning if Pheu Thai and its key figures directly involved in driving the policy understand what soft power represents. Defending the government's soft power policy, Ms Paetongtarn on Tuesday explained what the government has been doing to develop and harness the country's soft power. In essence, it has studied how South Korea and the US have built soft power and mastered its use. In her attempt to give people a rough idea about soft power, the Pheu Thai leader picked a mint-choc drink, her favourite beverage, as an example. Somehow, Ms Paetongtarn's remark led some people to understand that mint-choc drinks might also be promoted as soft power.
November 11, 2023 01:26 UTC
Thai Airways posts fourth-straight profitThai Airways International aircraft at Suvarnabhumi Airport in Samut Prakan province on Sept 26, 2023. (Photo: Varuth Hirunyatheb)Thai Airways International Public Company Limited (THAI) reported a fourth-straight quarterly profit as passenger numbers continued to improve in the wake of the coronavirus disease (Covid), with extra impetus coming from travellers from China. Piyasvasti Amranand, THAI Chairman of the Plan Administrators, is speaking at a press briefing in Bangkok on Friday. (Photo: THAI)The national carrier's operating profit before finance cost and one-time items surged 97% last quarter to 7.72 billion baht. THAI is now in the process of rebuilding its operations, with about 65 aircraft in its fleet, compared with 103 pre-pandemic.
November 11, 2023 00:58 UTC