Thailand’s SET Index closed at 1,375.69 points, decreased 3.77 points or 0.27% with a trading value of 41.80 billion baht. The analyst stated that the Thai stock market traded narrowly and was slightly larger than the regional markets. Energy and refinery stocks increased due to the rise in oil prices after the conflict in the Middle East escalated. The prices of petrochemical stocks also rose as they were supported by the recovering PMI figures from China and the US, which sent positive sentiment to commodity stocks and retail stocks. The analyst anticipated the possibility for more clarification on the digital wallet scheme next week.
The analyst expected the market to continue trading narrowly tomorrow, while investors monitored the announcement of the unemployment rate from the US as they looked for signals toward interest rate cuts.
The report from BMA stated that the sector had disbursed its debt on the Electrical and Mechanical Contract (E&M) to BTS in a total amount of THB 23.09 billion on April 2, 2024. BTS executives showed gratitude toward the BMA, especially Bangkok Governor Chadchart Sittipunt, while also stating that BTS would benefit from the debt disbursement in terms of the cash flow, which affected the overall operation of the company, and the benefit for customers using services.
Regarding the Operation and Maintenance (O&M) debt for the BTS Green Line, the matter is in the consideration process by the Supreme Administrative Court.
Kakao Bank’s CEO, Yun Ho-young, has been named as a new board member for Grab, the largest super-app operator in Southeast Asia, as confirmed by the Internet-based lender on Wednesday.
Yun’s appointment to Grab’s board as an outside director and member of the audit committee was formalized on Monday, building upon the strategic partnership established between the two companies in the previous year. Last October, Kakao Bank disclosed its acquisition of a 10% stake in PT Super Bank Indonesia, a digital-focused bank with Grab as its major shareholder, through a consortium involving Singapore’s Singtel.
This collaboration marked Kakao Bank’s inaugural venture into overseas investments, leveraging the complementarity between its digital finance prowess and Grab’s established presence in Southeast Asia to enhance user experiences through integrated services. Additionally, the companies are jointly exploring opportunities for business and technological advancement.
The share price of semiconductor stocks in the US markets foresaw a downward trend following the report on the halt of Taiwan Semiconductor Manufacturing Co. (TSMC) halting some of its operations after Taiwan was hit by a magnitude 7.4 earthquake off the east coast.
Earlier today, Taiwan Semiconductor Manufacturing Co. (TSMC), the leading producer of advanced chips globally, took precautionary measures following the most substantial earthquake to hit Taiwan in the past 25 years. In response to the seismic event with a magnitude of 7.4 off the east coast, TSMC suspended operations of certain chipmaking equipment and conducted evacuations of personnel.
As a key provider of contract manufacturing services to tech giants like Apple Inc. and Nvidia Corp., TSMC relocated employees from specific zones while evaluating the repercussions of the earthquake. Similarly, local competitor United Microelectronics Corp. (UMC) also ceased operations of machinery at select plants and evacuated facilities in Hsinchu and Tainan, according to the company’s announcement.
