1) Thai stock market overview
Thailand’s SET Index closed at 1,671.46 points, decreased 9.76 points or 0.58% with a trading value of 82 billion baht. The analyst stated that selloff in the banking and retail stocks as foreign investors slowed down investment weighed on the market. Meanwhile, BANPU’s share prices dropped on the back of falling coal and gas prices.
Investors were monitoring central banks’ meetings including Fed, ECB and BoE this week.
2) Australia’s New South Wales plans to mandate coal miners to place 10% reserve on output in mid-Feb
New South Wales will officially announce its state order for a supply control of coal production by mid-February.
The Australian government would issue final directions that will require all mining firms in New South Wales, the country’s biggest coal exporting state, to reserve as much as 10% of their output for domestic supply.
A Department of Planning and Environment spokesperson said the government will discuss with miners before issuing the final order.
3) Thai Dec factory output contracts by 8.19% as global slowdown hit demand
Thailand’s factory output contracted by the most in 28 months in December, according to data released by the industry ministry on Tuesday, falling more than expected as a global slowdown dampened demand for Thai exports.
The industry ministry said that in December, the manufacturing production index (MPI) was at 93.89, down by 8.19% from a year earlier. The decrease was due to lower output of hard disk drives and plastic pellets.
In a statement, the ministry said that production in factories will likely decrease again in January due to weakening global demand and a high base.
4) China’s economic activity returns to growth in January
During the month of January, manufacturing in China registered at 50.1, the National Bureau of Statistics (NBS) said on Tuesday; this figure is higher than the 50-point line that separates expansion from contraction.
The figure is up from December’s 47 and above the expectation from Reuters of 49.
Non-manufacturing PMI in China, which includes the service, catering, and building industries, also increased to 54.5 in January from 41.6 in December.
