By THE NATION
The Stock Exchange of Thailand’s benchmark index yesterday topped 1,700 points for the first time this month. The SET Index closed at 1,705.98, rising 22.38 points from Tuesday.
The trading volume hit Bt107.56 billion, the second time this year it has crossed Bt100 billion.
Foreign, institutional and property investors recorded net profits of Bt1.80 billion, Bt9.34 billion and Bt2.37 billion, respectively.
BTS COMPLETES BT5.1 BN SALE OF VGI SHARES
BTS yesterday sold a lot of 575 million shares in VGI to institutional investors, worth a total of Bt5.1 billion at Bt9 per share.
BTS plans to invest the fund raised from selling VGI shares in mega infrastructure projects as well as upcoming bidding activities.
The big lot sales will also benefit BTS on free float or distributing |more shares to small investors. It will also help VGI on SET50, MSCI and FTSE.
CLMV TIPPED TO MAINTAIN HEADY ECONOMIC GROWTH
The Economic Intelligence Centre (EIC) reported that the CLMV economy will maintain its high growth of around 6-7 per cent in 2019. Amid rising global uncertainties, especially a trade war, international demand to CLMV still supports growth in exports, FDI, and tourism. Exports from the CLMV grouping - comprising Cambodia, Laos, Myanmar and Vietnam - recorded a 5 per cent year on year growth in the first two months of 2019, particularly to the countries with trade privileges and bilateral deals. Meanwhile, CLMV governments have prioritised their spending to improve business environment via infrastructure investment and new industry development.
Rapid economic growth during the past years also leads to an expanding middle class which helps support domestic consumption.
Nonetheless, key risks ahead to CLMV economy are China’s economic slowdown, prolonged current account deficits, and country-specific uncertainties, notably a loss of Europen Union trade privileges in Cambodia.