stock market
- Thailand News
Beauty pageant stock’s overvaluation concerns
The once-dazzling rally of Miss Grand International Plc (MGI), a beauty pageant organiser, appears to be losing its shimmer as concerns loom large over its increasingly stretched valuation. Since its inception in mid-December at 4.95 baht apiece, the stock catapulted by over 900%, ranking as the second-best performer among new listings in the Asia Pacific region over the past three…
- Business News
Thai stock exchange to tighten short sales and program trading rules
The Stock Exchange of Thailand (SET) is set to introduce stricter regulations on short sales and program trading, aiming to mitigate securities price volatility and bolster the long-term resilience of the market. This decision follows a comprehensive study conducted by an external advisor, which found the SET’s market surveillance system to be on par with regional standards, as per a…
- Business News
Promising future for Thai SET in healthcare, tourism, food sectors
Despite the slow recovery of the Stock Exchange of Thailand (SET) from last year’s significant slump, executives see a promising future in healthcare, tourism, and food stocks. They believe these sectors can offer attractive opportunities for investors and encourage more companies to enlist on the bourse. Manpong Senanarong, SET Senior Executive Vice-President and head of the Issuer and Listing Division,…
- Business News
SET index may drop below 1,300 due to digital wallet handout
The Stock Exchange of Thailand (SET) index could potentially plummet below the 1,300-point mark this year, warns the CEO of One Asset Management (ONEAM), Pote Harinasuta. This alarming projection is associated with the government’s proposed digital wallet handout which could result in Thailand’s credit rating being downgraded and a subsequent hike in corporate borrowing costs. Key factors that could influence…
- Business News
SEC enhances high-yield bond oversight amid Thai market instabilities
The Securities and Exchange Commission (SEC) is enhancing oversight measures for high-yield bonds to fortify payment protections and investor assurance, according to remarks made by SEC Secretary-General Pornanong Budsaratragoon. This move comes in response to recent market instabilities caused by numerous defaults and a significant accounting scandal in the speculative debt sector. As part of this heightened vigilance, the SEC…
- Business News
Thai retail investors now unrestricted in real estate, infrastructure-backed ICOs
Retail investors in Thailand will no longer face restrictions on investment in real estate and infrastructure-backed initial coin offerings (ICOs), according to an announcement by the Securities and Exchange Commission (SEC). The change, effective from January 16, was made to encourage technology use for fundraising and to support sustainable capital market growth and the digital economy’s development. The SEC’s role,…
- Business News
SEC allows securities firms to offer spot Bitcoin ETFs to elite investors
The Securities and Exchange Commission (SEC) is in the process of permitting securities firms to offer spot Bitcoin Exchange-Traded Funds (ETFs) trading to institutional and high net worth (HNW) investors. The information became public when InnovestX Securities, a unit of SCB X Group, announced on its website that it had recently discussed the matter with the SEC and obtained approval…
- Business News
Zipmex risks losing license over liquidity issues and inadequate management
Zipmex, a digital asset exchange operator, is facing a potential revocation of its business licence from the Securities and Exchange Commission (SEC) if it fails to resolve its liquidity problem within a fortnight. This issue arises as the company’s capital fund has fallen below the regulator’s minimum standards. The SEC board urged Zipmex to overhaul its operations, blaming the company’s…
- Business News
Thai stock market could sink below 1,300 amid foreign investor exodus
In a worrying development, analysts signalled that the Stock Exchange of Thailand (SET) index, which plummeted to a three-year trough yesterday, could continue its descent to below 1,300 points in the short term as foreign funds persist in their exodus. The Thai stock market appears unaffected by the recent resurgence of other equity markets, despite encouraging indicators emerging since last…
- Business News
Sarath Ratanavadi remains wealthiest shareholder in Thai market for fifth year
For the fifth year running, Gulf Energy Development Plc‘s Chief Executive, Sarath Ratanavadi, tops the list as the wealthiest shareholder in the Thai capital market. Despite a 12.9% dip from the previous year, his shares were valued at a whopping 190 billion baht, according to a recent survey. The annual assessment, a joint effort between Money & Banking magazine and…
- Business News
Electronics firms poised for a shocking surge in the new year
Electronics companies listed on the stock market are set to witness a performance upturn in the new year, owing to a forecasted global recovery across all industry sub-sectors, according to KGI Securities. The firm predicts a higher growth rate in the second half of the year on the back of continuing inventory restocking. The outlook is based on the steady…
- Business News
No evidence of naked short selling in Thai stock market, says ASCO
The Stock Exchange of Thailand (SET) and the Association of Securities Companies (ASCO) confirmed that there is no occurrence of naked short selling within the Thai exchange. This comes amidst the Securities and Exchange Commission’s (SEC) request for ASCO members to align their short-sell guidelines with those of the SEC. Pichet Sithi-Amnuai, ASCO president, revealed that regular inspections of short…
- Business News
New ESG fund could boost Thai stocks by up to 70 billion baht
Analysts predict that a forthcoming environmental, social and governance (ESG) fund could draw investments of between 20 and 70 billion baht into 114 stocks listed on the Stock Exchange of Thailand’s (SET) ESG index this year. The long-term savings fund, which is set to be established later this year, will be focused on investing in domestic ESG stocks and bonds.…
- Business News
Potential slump for Thai stock market due to digital wallet scheme delay
The Thai stock market is facing a potential slump this month, following a 6.1% drop in October and a 17.2% decline year-to-date, due to potential delays to a significant digital wallet scheme and a slower-than-anticipated recovery in the tourism sector. Such concerns are sparking significant investor anxiety, according to industry analysts. Sompong Benjathepanan, the assistant managing director at AIRA Securities,…
- Business News
SET forecasted to dip amid US bond yield uncertainty
The Stock Exchange of Thailand (SET) index, which dipped below 1,400 points last Friday, is anticipated to continue its downward trajectory this week, potentially hitting 1,330 to 1,350 points, as per market analysts’ predictions. Factors contributing to this trend include fluctuating US bond yields and uncertainties in global factors. Wikij Tirawannarat, a senior executive at Bualuang Securities, pointed out that…
- Business News
Stock market fraud: SEC intensifies efforts to restore investor trust
The Securities and Exchange Commission (SEC) is set to fortify its efforts in battling stock market fraud and intensifying its monitoring of publicly traded firms, in a bid to re-establish investor trust. The Commission acknowledged the proliferation of fraud incidents has led to a considerable erosion of confidence among stock investors. Regular offences include insider trading and stock price manipulation.…
- Business News
Middle East crisis and US inflation trigger 2% fall in Thai stocks
Escalating the Middle East conflicts and persisting high inflation in the US are contributing to a more than 2% fall in Thai stocks. The Stock Exchange of Thailand (SET) is encountering renewed selling pressure, with the index nearing a crucial resistance level of 1,400 points. Concurrently, gold prices have seen a sharp increase, reaching nearly US$1,950 (70,870 baht) per ounce…
- Business News
Global stocks take a rollercoaster ride as investors chase ‘oil-usive’ recovery
Global stocks experienced a mixed performance yesterday, as investors sought recovery from the significant drop in the previous session, induced by a sharp dip in oil prices. The 10-year US Treasury note, which reached a 16-year high on Tuesday, experienced a retreat after a disappointing US recruitment report surfaced. Adam Sarhan of 50 Park Investments stated that investors are entering…
- Business News
Thai stock market plunges amid public debt concerns and reduced GDP forecast
Following a decline of over 1.5% yesterday, the Stock Exchange of Thailand (SET) dropped below the 1,450 points mark. This follows mounting apprehensions concerning escalating public debt and economic growth after the World Bank scaled down its forecast for the Thai GDP. Daol Securities (Thailand) noted selling pressure from the majority of investor groups due to persisting worries about the…
- Business News
Stock slide stalls: Thai stock market slump set to stabilise as analysts predict limited decreases
The Stock Exchange of Thailand (SET) index has been subjected to a downward revision this year, dipping to a three-month low of roughly 1,470 points. This has led market analysts to believe that further decreases are now limited. Kasikorn Securities (KSEC) consequently altered its SET index target to 1,544 points by the close of 2023, a significant drop from the…
- Business News
Fed’s high interest rates outlook spooks Thai stock market investors
The hawkish stance of the Federal Reserve on maintaining “higher for longer” interest rates is projected to keep the Thai stock market in bearish territory. This comes as elevated rates pose a threat to global economic recovery, leading to consistent fund outflows from the Stock Exchange of Thailand (SET). Despite the expected decision by the US central bank to retain…
- Business News
Economic data in China sees Asian stocks surge, Thai shares dip
Asian stocks experienced a significant surge yesterday, a continuation of the global equity rally, following encouraging Chinese economic data that sparked optimism about the imminent culmination of major central banks’ tightening initiatives. Despite the overall momentum, Thai stocks saw a slight dip of 0.3% from the prior week, closing at 1,542.03 on Friday, with an average daily turnover of 46.97…
- World News
Typhoon Talim forces Hong Kong’s US$5.2 trillion stock market into trading halt
Hong Kong felt the devastating blow of Typhoon Talim as it forcefully swept its US$5.2 trillion stock market off into a trading halt today. Hong Kong Exchanges & Clearings Ltd cited this extreme weather event as the cause for the suspension, a decision markedly disrupting the day’s trading flow. This unprecedented event not only put the scheduled New Media Lab’s…
- Business News
Thai stock market fluctuates amid MFP leader’s shareholding controversy
The Move Forward Party (MFP) leader’s shareholding case prompts fluctuations in the Thai stock market. The Exchange Commission (EC) yesterday referred Pita Limjaroenrat’s iTV shareholding case to the Constitutional Court for resolution, sending ripples through the stock market. Suspicions regarding Pita’s iTV shareholding led the EC to propose he ceases all MP duties immediately, pending court deliberation in the following…
- Business News
Thai SEC urged to tackle Stark’s negative shareholder equity, boost investor trust
Finance Minister Arkhom Termpittayapaisith urged the Securities and Exchange Commission (SEC) to address Stark Corporation’s negative shareholder equity issue to safeguard investors’ interests and bolster confidence in the market. Arkhom held discussions with the SEC’s secretary-general about the stock issue and encouraged the regulator to utilise available tools to boost investor trust in the market. He said… “It is crucial…
- Business News
Trading troubles: Thai stock market feels pinch of political uncertainties amid global rate rumbles
The Thai stock market remains under pressure from domestic political uncertainties, despite a halt in US interest rate hikes and a recent rate cut in China. The Stock Exchange of Thailand (SET) index continued its downward trend, closing at 1,557.71 points, a 0.22% decrease from the previous day. In contrast, several Asian stock markets experienced gains, with Hong Kong’s Hang…
- Business News
Isuzu factory relocation rumours hit Thai auto parts shares
A significant decline in the shares of Thai auto parts companies was observed today, following rumours that Japanese automaker Isuzu Motors intended to move its Thai factory to Indonesia. The Indonesian Industry Minister, Agus Gumiwang Kartasasmita, stated yesterday that Isuzu could potentially commence production in Indonesia as early as next year. However, Isuzu denied any such relocation plans today. In…
- Business News
Thai investor confidence sinks as government formation uncertainty looms
Investor confidence in the nation’s stock market has dropped to an eight-month low due to uncertainty over the formation of a new government, according to the Federation of Thai Capital Market Organisations (Fetco). The overall investor confidence index has dipped to 77.70 from 110.09 in May, entering the “bearish zone” for the first time in eight months. Foreign investor confidence…
- Business News
Asian stocks surge as us debt default averted
Asian stocks experienced gains on Friday, following the US Senate’s approval of legislation that prevents a US debt default. The possibility of the US Federal Reserve deciding against raising interest rates this month also contributed to the positive sentiment. Last week, Thai shares fluctuated between 1,521.31 and 1,545.55 points, eventually closing at 1,531.20 on Friday, marking a 0.024% increase from…
- Business News
Thai stock market suffers as Stark Corporation defaults
Investors were cautioned by stock market regulators regarding Stark Corporation’s shares, as the company is expected to default on payments for corporate bonds valued at nearly 9.2 billion baht. Following a bondholders’ meeting, Stark announced its intention to “call default” on two bond series worth 2.24 billion baht within a month, raising concerns about the company’s ability to pay for…
