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.
Thai Mango growers complain of low prices and fewer exports
Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.
Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.(more…)
Foreigners’ Participation in Thai Listed Companies explained
Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai
securities flexibly and conveniently.
Subscribe via Email
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned...
Exclusive interview with Richi Kukreja, HR Lead Director for Zoetis South East Asia
Zoetis is a global animal health industry leader, dedicated to supporting customers and their businesses in ever better ways. Building...
World Bank lowers Thai GDP growth outlook to 2.2%
In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to...
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets...