Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais

The Ministry of Finance, said today that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.

Under the scheme, each of the 33.5 million recipients will have 7,000 baht wired into their “Pao Tang” accounts in seven weekly instalments of 1,000 baht. The deadline extension until the end of June will also help to mitigate the impact of the new COVID-19 outbreak.

The Rao Chana scheme provides 7,000 baht in subsidies to each person registered as being affected by the COVID-19 situation.

The Ministry of Finance has clarified that the Rao Chana scheme is not accepting new applicants at this time, and the additional 3- billion-baht budget approved by the Cabinet is for funding the program which has been extended for another month.

The cabinet approved to extend the deadline for people … Read the rest

Dow Vaults 300+, End 2-Day Slump

U.S. stocks rose on Wednesday to recover from two straight days of losses as investors piled into shares most sensitive to the economic recovery.

The Dow Jones Industrials restocked 316.01 points to close Wednesday at 34,137.31

The S&P 500 regained 38.48 points to 4,173.42.

The NASDAQ Composite popped 163.95 points to 13,950.22.

Shares of Norwegian Cruise Line Holdings led a pop in reopening plays after Goldman Sachs upgraded the stock. Norwegian jumped more than 10%, while Carnival picked 6.3%, and Royal Caribbean rose 4.4%.

United Airlines rebounded 3% after plunging 8.5% on Tuesday as the carrier reported its fifth consecutive quarterly loss and said that business and international travel is still far from a recovery.

Netflix shares plunged over 7% after the streaming giant reported subscriber additions that fell far short of Wall Street estimates as the demand surge from the pandemic started to fade. The company also said it … Read the rest

Dow Sustains Back-to-Back Losses, Plunges 250

U.S. stocks fell for a second day on Tuesday as strong corporate earnings failed to boost a market already near record highs, while an alarming rise in global COVID cases raised concerns about the recovery.

The Dow Jones Industrials plummeted 256.33 points to close Tuesday at 33,821.30, as Boeing and Nike both dropped more than 4%.

The S&P 500 deleted 28.32 points to 4,134.94.

The NASDAQ Composite weakened 128.5 points to 13,786.27.

Reopening plays such as airlines and cruise line operators led losses on Tuesday. United Airlines plunged 8.5% after the carrier reported its fifth consecutive quarterly loss and said that business and international travel recovery is still far off. American Airlines fell 5.5%, while Carnival and Norwegian Cruise Line both slid over 4%.

The selloff in shares that are tied to a successful reopening came as the World Health Organization warned that global coronavirus infections were edging toward their … Read the rest

Bangkok falls 19 places to 49th most expensive location worldwide

The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.

Hanoi saw a similar drop of 12 places to 81st place, based on an analysis of data gathered in September 2020.

The survey uses average rental prices for a three-bedroom apartment in the mid-range of the expatriate market.

ECA International has been conducting research into accommodation costs for international executives for more than 20 years to help companies provide the right housing options as part of the overall compensation package for mobile employees. The research compares rental costs in accommodation in areas typically inhabited by expatriate staff in over 360 locations worldwide.

Hong Kong has been named the most expensive location in the world for expat accommodation for a fourth year in a row but still saw rental costs drop considerably due to the … Read the rest

TSX Gives Back Gains from Late Last Week

Stocks in Toronto stumbled to begin the week as tech stocks proved a drag on the market.

The TSX fell 146.9 points to end Monday at 19,204.42.

The Canadian dollar slid 0.12 cents to 79.78 cents U.S.

As mentioned, tech stocks took the biggest bruises, as Hut 8 Mining dropped 78 cents, or 10.4%, to $6.70, while Shopify was pummelled $73.62, or 4.49%, to $1,436.72.

Among materials, Nutrien suffered a loss of $2.52 per share, or 3.6%, to $67.53, while Endeavour Silver let go of 23 cents, or 3.3%, to $6.77.

In the utilities sector, Boralex slipped $2.69, or 6.2%. to $40.87, while Innergex Renewable Energy doffed $1.24, or 5.3%, to $22.16.

Only consumer staples held out amid the negative tide, with Maple Leaf Foods gaining 85 cents, or 3.1%, to $28.06, while Alimentation Couche-Tard tallying 48 cents, or 1.2%, to $41.95.

ON BAYSTREET

The TSX Venture Exchange demurred 15.29 … Read the rest

Dow, S&P Soar to New Record

U.S. stocks rose again on Friday as the market’s rally to records carried on amid strong earnings from blue-chip companies as well as solid data signaling a snapback in the economy.

The Dow Jones Industrials jumped 164.68 points to close Friday at 34,200.67,

The S&P 500 added 15.05 points to 4,177.52, to hit another fresh high.

S&P 500’s strong performance in recent weeks has pushed its year-to-date gains to more than 11%. Cyclical sectors have been the biggest

winners this year with energy and financials leading the rally.

The NASDAQ Composite restored 13.58 points, to 14,052.34.

Wall Street wrapped up another winning week with the three major benchmarks all gaining more than 1%. The S&P 500 and the Dow posted their fourth straight positive week, while the tech-heavy NASDAQ has registered gains for three weeks in a row.

The last of the six largest U.S. banks to report– Morgan Stanley … Read the rest

TSX Cements Gains for Positive Close

Stocks in Toronto concluded a strong week, with resource stocks pushing higher Friday.

The TSX gained 24.2 points to close the week at 19,346.12. The index leaped 361 points, or 1.9% on the week

The Canadian dollar gained 0.25 cents to 79.96 cents U.S.

Gold stocks stole the show Friday, as B2Gold gained 10 cents, or 1.6%, to $6.35, while Wesdome Gold Mines attached 10 cents, or 1%, to $9.95.

In other resource stocks, Canfor Corp. added $2.10, or 7.1%, to $31.83, while Interfor gained $1.91, or 6%, to $34.02.

Among communications winners, AcuityAd Holdings took on 33 cents, or 2.4%, to $14.12, while Shaw Communications hiked 51 cents, or 1.5%, to $34.97.

Energy, however, got somewhat bruised, as Vermilion Energy slid 36 cents, or 3.9%, to $8.77, while Crescent Point Energy dipped 14 cents, or 2.8%, to $4.86.

In techs, Hut 8 Mining lost 48 cents, or 6%, to … Read the rest

Digital Revolution and Repression in Myanmar and Thailand

By Karen Lee

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

Drawing from the protest movements in Hong Kong, Taiwan, and neighboring Thailand, youth activists in Myanmar have leveraged their intimate knowledge of digital tools to protest authoritarianism. Inspired by the movement in Myanmar, the nearly year-long protests in Thailand against that country’s military-led government have gained renewed momentum.

The rise of digital activism across Southeast Asia in the past half-decade has featured a new generation of protesters leveraging social media and co-opting popular symbols to attract international coverage and garner sympathy for their causes.

Although the governments they are fighting against have also used these same tools to restrict protest activities and free speech, the digital imprint of the Milk Tea Alliance in the region ensures that these protests will not easily be forgotten.

The

… Read the rest

Canada CPI, Bank Rate Word Due Next Week

Monday

U.S.

Economic Lookahead

Durable goods orders (March)

Core capital goods orders (March)

Featured Earnings

Coca-Cola Company (NYSE:KO) (Q1) EPS projected at 50 cents, compared to 51 cents in the prior-year quarter.

International Business Machines Corporation (NYSE:IBM) (Q2) EPS projected at $1.67, compared to $1.84 in the prior-year quarter.

Prologis Inc. (NYSE:PLD) (Q1) EPS projected at 94 cents, compared to 83 cents in the prior-year quarter.

Canada

Featured Earnings

Bear Creek Mining Corporation (T.BCM) (Q4) EPS projected for loss of three cents, compared to a loss of four cents in the prior-year quarter.

People Corporation (T.PEO) (Q2) EPS projected at six cents, compared to three cents in the prior-year quarter.

PrairieSky Royalty Ltd. (T.PSK) (Q1) EPS projected at seven cents, compared to six cents in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Case-Shiller home price index (Feb.)

Consumer confidence index (April)

Homeownership rate (Q1)

Featured Earnings

Johnson & Johnson (NYSE:JNJ) … Read the rest

Thai fruit exports to FTA markets up 107 percent

BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

Thai durian, mangosteen, longan and mango are popular in China, Hong Kong and ASEAN member states.

Director-General of the Department of Trade Negotiations, Oramon Sapthaweetham, said Thai fruit exports, to 18 countries which have FTAs with Thailand, reported 107 percent growth in the first two months of 2021, compared to the same period of last year. The total trade value was US$461 million, accounting for 94.94 percent of the country’s total fruit exports.

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

Currently, Thailand is the 7th largest fruit exporter, and the … Read the rest