1) Thai stock market overview
Thailand’s SET Index closed at 1,691.12 points, increased 17.26 points or 1.03% with a trading value of 78 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional markets as investors eased concerns on Fed slowing down on hiking interest rates in anticipation that inflation had peaked and bond yields had fallen. The financial sectors buoyed SET Index and strong Thai baht attracted fund flows to the market. The analyst expected upside tomorrow to be limited.
2) 40% of German companies expect falling output amid high energy costs and supply chain disruption
The German Economic Institute (IW) reported the results of its company survey, showing that four out of ten companies expect business will fall in 2023 as a result of high energy costs, supply chain issues and the endless war in Ukraine.
Nearly 2,500 companies from the survey showed that a third of companies expected the business to stagnate, but for all the remaining quarters expected business to grow.
The outlook for German construction also looks bleak and cloudy. Half of companies that IW surveyed expect lower production and only 15% predict business growth; also the industry sector is not going well. 39% of companies predicted a reduction.
3) Thailand expects 10 million visitors from China, topping earlier forecast of 5 million
Thailand expects 7-10 million visitors from China in 2023, topping its earlier forecast for 5 million arrivals from the world’s second largest economy that recently reopened its border.
The Health Minister Anutin Charnvirakul on Monday revoked rules from the aviation regulator on the weekend that required visitors to show proof of Covid-19 vaccination.
The health ministry told reporters that proof of vaccination was not needed as there was sufficient immunization globally. He also noted that unvaccinated tourists will be allowed to enter without restrictions as well.
4) Airlines boost China international flight capacity as country reopens
International seat capacity to and from China in January increased by 9.5% over the past week as airlines ramped up flights following China’s Reopening, however flights are still far lower than they were before the outbreak, said aviation data supplier Cirium.
According to schedules data from Cirium reviewed by Reuters, Hong Kong’s Cathay Pacific Airways added over 52,000 seats as its border with the mainland opened, placing it ahead of China’s Xiamen Airlines, Juneyao Airlines, and others.
Analysts expect Chinese airlines will be the first to reap the benefits of the country’s international reopening, as they have kept most of the planes and employees ready, even as many foreign peers struggle with capacity restrictions.
Data by Cirium showed that airlines operated only 11% of pre-pandemic capacity in January.
The week-long Lunar New Year holiday begins January 21.
In addition, Cirium data suggested that international capacity to and from China scheduled for February has increased by 23% in the last week, and by 13% in the same period the month of March.