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Thailand’s protests take toll on economy

The Stock Exchange of Bangkok has fallen 9.5 per cent since Nov. 24, the day of the first major anti-government rally in Bangkok. The baht ended the Thai trading day at 33.13 to the U.S. dollar, after a prolonged sell-off that has seen it give up nearly three years of gains.

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The Stock Exchange of Bangkok has fallen 9.5 per cent since Nov. 24, the day of the first major anti-government rally in Bangkok. The baht ended the Thai trading day at 33.13 to the U.S. dollar, after a prolonged sell-off that has seen it give up nearly three years of gains.

On Monday, the Stock Exchange of Thailand gained six points to close at 1,230 points amid late-day buying into cheaper shares, although market participants offered a decidedly grim outlook.

The SET is at risk of falling below 1,100 points, and the baht may reach 34 to the dollar, warned Voravan Tarapoom, the chief executive officer of BBL Asset Management Co. Ltd., which has nearly $12-billion in assets under management.Political turmoil “will be a big cloud in the investment market for a while,” she said in an interview. “The longer we live with uncertainty, the worse it will be for the country.”

Local reports suggest foreign investors have withdrawn billions of dollars from the country – with nearly $100-million in bond sales Monday alone – after years of multi-billion-dollar capital inflows. With no clear path to resolution of a political dispute whose roots date back some 12 years, observers worry that the country could go without an effective government for some time, triggering broader pain in the real economy

via Thailand’s political crisis a ‘big cloud’ for investment, economy – The Globe and Mail.

Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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