Stay updated with breaking news from Bloomberg thai. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A $45 Billion Manager Says Thai Stocks Face Hurdles Over Worst Virus Outbreak Bloomberg 1 hr ago Follow Bloomberg on LINE messenger for all the business news and analysis you need. Thai equities face new hurdles as the country’s worst Covid-19 outbreak will further squeeze corporate earnings and delay an economic recovery, according to Thailand’s second-biggest private money manager. Investor optimism over prospects for a return of foreign tourists has been eroding amid a new wave of the virus that took hold this month, said Vasin Vanichvoranun, executive chairman at Kasikorn Asset Management Co., which manages about $45 billion. The firm’s current forecast for the benchmark SET Index to reach 1,650 points this year may be out of reach if Thailand can’t contain the spread, he said. ....
As Thailand’s Troubles Grow, the King Moves to Bolster His Image Bloomberg 1/20/2021 Philip J. Heijmans (Bloomberg) After political and economic instability saw unprecedented demands for reform of the Thai monarchy, King Maha Vajiralongkorn is seeking to burnish his image in what is shaping up as another year of tension in the country. Prime Minister Prayuth Chan-Ocha oversees an economy with tourism decimated by the coronavirus pandemic, factories shedding workers and exporters slammed. Farmers have struggled under the worst drought in four decades. Gross domestic product contracted an estimated 6.6% last year. While some recovery is forecast for 2021, it’s set to be relatively anemic for an economy that’s been sluggish for years. A new wave of coronavirus infections has seen an extension of a state of emergency until the end of February. Meanwhile, Thailand’s biggest opposition party plans to pursue a no-confidence vote agains ....
Thailand’s economic conditions are expected to deteriorate further this year as the nation battles a resurgence in the coronavirus, according to a national survey. ....
Thai Economic Conditions Tipped to Worsen as Virus Spreads Bloomberg 1/3/2021 Suttinee Yuvejwattana (Bloomberg) Thailand’s economic conditions are expected to deteriorate further this year as the nation battles a resurgence in the coronavirus, according to a national survey. About 52.2% of the respondents in the study undertaken by Bangkok-based National Institute of Development Administration predict the economy will be even worse in 2021 than it was last year, while 14.6% anticipate an improvement. At the same time, the impact of Covid-19 may be even more deadly than in 2020, according to 48.1% of the 1,326 respondents in the survey held between Dec. 24-25. Just 28.8% expect it to be less severe, the institute said in a statement released Sunday. Those surveyed were Thais aged 18 and above. ....
Thailand Tightens Measures to Stem New Wave of Infections Bloomberg 12/29/2020 Randy Thanthong-Knight (Bloomberg) With the latest flareup in coronavirus outbreak in Thailand sweeping almost two-thirds of the country, authorities are tightening measures to contain infection risks ahead of the New Year holidays. Bangkok, the nation’s capital and its largest city, ordered sports and entertainment venues to close from Tuesday through Jan. 4, with a possible extension in the event of the situation not improving in the next one week. Tak, a province bordering Myanmar, and the nation’s virus hotspots Samut Sakhon and Rayong, have also imposed similar restrictions to prevent a further flareup in infections. ....