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Economy and Business - Central bank may further cut policy rate to 0.75 per cent

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Offline tiggs

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Baht weakens marginally while BOT pumps liquidity with bond buyback

The baht on Friday (March 20) opened at Bt32.56 to the US dollar, weakening from Thursday’s close of Bt32.50.

The Thai currency is expected to move at between Bt32.40 and Bt32.70 to the US dollar, SCB Securities senior market strategist Jitipol Puksamatanan said.

nationthailand.com
Appeasers believe that if you keep on throwing steaks to a tiger, the tiger will become a vegetarian.


Offline tiggs

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Thai stocks gain on hopes of Covid-19 antiviral drug, but situation still worrisome

The Stock Exchange of Thailand (SET) Index on Friday (March 20) recovered due to hopes from China’s move to produce Favipiravir, an antiviral drug able to cure Covid-19 virus, and investors making a short covering to buy back stocks, Sunthorn Thongthip, strategist at Kasikorn Securities said.

The SET Index yesterday closed at 1,127.24, up 83.05 points or 7.95 per cent with total transactions worth Bt93.027 billion.

He said that at the same time, central banks worldwide had tried to inject liquidity into the monetary system and issued various measures to mitigate the Covid-19 impact, resulting in hopes for the market.

“Currently, the market hopes that the number of infected people would decline after the antiviral drug goes under production,” he said.

“We expect that the recovery of the market this time would be able to maintain at this level for one or two weeks to see the situation from now on meets expectations.”

He advised investors not to buy back stocks when stock prices begin to rise.

“Although the production of the antiviral drug has started, as long as there is no vaccine or the number of infected people remains very high, the chance of severe volatility is still possible,” he said.

“Investors who have previously held shares or have gained profit from buying stocks when its prices fell into the buy zone, may consider reducing their portfolios and holding cash to wait and see the situation again.”

He added that the antiviral drug currently being produced seemed to have a 30 per cent curing record, so one cannot be sure that the situation will be resolved.

full article nationthailand.com

Appeasers believe that if you keep on throwing steaks to a tiger, the tiger will become a vegetarian.