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Foreigners ditch Thai 8 billion-share bonds, indicating resting on four options.
The reporter reported that The analysis of securities companies (securities companies) examining the SET index of the Thai stock index today (November 20, 2020) may stay for a short time. But the support is not lost 1,340-1,330 points, however, the company still sees it as a contraction. Provide opportunities for investors to increase their investment portfolios.
Days ago Foreign Investors Sell net for the first time in 3 days and for the second time since November 9, after the depreciation of the baht. Wait for a short break Waiting for the results of the US elections. Speculation on Thai stocks is expected.
Krungsri Securities stated that there are 3 important issues that need to be watched today: 1. Bank of Thailand (BOT) measures to control that the value of the baht does not appreciate quickly. 2. Internal political problems and 3. Progress in vaccine development.
Mr. Tada Pruthinada Managing Director The Thailand Bond Market Association (ThaiBMA) said yesterday (November 19, 2020) the net sales of foreigners of around 8 billion baht in Thai debt instruments after the news about the progress of the COVID-19 vaccine. As a result, a large amount of capital flows (cash flows) into the bond market. Some days foreigners buy a net worth of more than 20 billion baht. Causing the baht to appreciate in the past
“Yesterday until 4:00 pm, foreigners sold a net worth of 8 billion baht after having bought long after the news of the progress of the vaccine. We have to wait and see what measures the BOT will bring today, ”said Tada.
While the department of economic and capital market studies Kasikornbank estimates that there are four measures to slow down the baht as an alternative that the BOT can adopt.
Including 1. Intervening in the baht Buying dollars accumulated in international reserves What you can do more Concerns about the intervention of the currency eased under the administration of new US President Joe Biden.
2. Expand the ceiling and relax the threshold. Investing portfolios of Thai investors abroad, however, investors may not be ready to reinvest. Due to concerns about the global economic outlook that has not fully recovered and currency losses.
3. Relax the regulations of foreign currency deposit accounts (CDF), such as the extension of the maximum deposit limit. Transfers of funds between CDF accounts and the opening of accounts are allowed without supported transactions, however, the exchange demand for THB. Because entrepreneurs need more working capital than usual during the crisis.
AND 4. Reduce BOT bond auction limits to reduce channels of currency speculation in the short-term bond market. This will help reduce heavy speculation with the baht.
Mr. Nattaphong Hiranyasiri, Chairman of MTS Gold Group or Gold Shop “Mae Thong Suk”, said that the BOT was prepared to allow investors to trade gold and currencies through a foreign currency deposit account (FCD). Can, for example, the dollar Or currency, yuan, etc., expected to be the commodity trade reform in the future. Not just gold
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