Markets

Coronavirus hits tourism-reliant Thailand

Tourism is a key driver of growth in Southeast Asia’s second-largest economy, and Chinese tourists are Thailand’s biggest source of visitors accounting for 28% of all tourists to Thailand

Published

10 months ago

February 26, 2020

Boris Sullivan

The Stock Exchange of Thailand (SET) dropped beneath 1,400 point in morning trading on Wednesday (February 26) amid concerns over the COVID-19 virus, and closed at 1366.

Thailand’s equity benchmark index tumbled to its lowest threshold in more than three years, falling at 1366, well below the 1,400 point mark as the rising number (three new cases) of novel coronavirus (Covid-19) cases in the country shrank investment appetite.

The baht continued to weaken, trading at 31.84 to the US dollar in today evening trade, amid concerns over the coronavirus spreading outside China.

Tourism is a key driver of Thai growth and a bright spot in Southeast Asia’s second-largest economy and Chinese tourists are Thailand’s biggest source of visitors.

With Chinese making up 28% of all tourists to Thailand, the travel sector is most likely to be hit hardest from the outbreak. Thai exports to China, which account for more than 5% of Thai GDP, are also set to fall.

How China's virus-fueled slowdown will transmit across Asia. Every country in the region will be hit — in different ways.https://t.co/nmvUFTPtE3
— Nikkei Asian Review (@NAR) February 24, 2020

Forex

How to Trade the EUR/USD Currency Pair: Professional Tips

The behaviour of the EUR/USD pair is a kind of indicator showing the comparative condition of the US and EU economies. If the US economy steadily grows, and problems arise in the EU, the EUR/USD decreases.

Published

2 months ago

October 22, 2020

Pr News

EUR/USD is one of the most popular currency pairs for Forex trading. Since the beginning of trading in 1999, the currency pair has undergone significant changes. For the first two years, the future for the euro was uncertain and the quotation was declining, reaching a minimum of 0.8200.

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Markets

Thailand remains ASEAN’s largest Exporter of Vegetables

Currently, the kingdom has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables, including China, Hong Kong, Australia, New Zealand, Japan, Chile, Peru and 6 countries in ASEAN.

Published

4 months ago

August 16, 2020

National News Bureau of Thailand

Thailand has FTA agreements with 17 countries, 13 of which no longer levy import duties on Thai vegetables.

LAMPANG (NNT) – Despite economic stagnation and border closures, due to COVID-19, Thailand remains ASEAN’s largest exporter of fresh refrigerated vegetables, while being 14th in the world.

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commodities

Gold rush hits Thailand as prices surge

The value of gold has rocketed by Bt7,000 per baht weight since the beginning of this year, generating returns of over 20 per cent.

Published

5 months ago

July 30, 2020

Akanksha Singh

Photo : Adam Jones

People flocked to sell their gold at China town. The Gold Traders Association announced the buying and selling prices of gold has increased by 50 baht to a historic high.

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