1) Thai stock market roundup
Thailand’s SET Index closed at 1,687.45 points, increased 1.70 points or 0.10% with a trading value of 72 billion baht. The analyst stated that the Thai stock market had small speculation from investors in anticipation of US inflation slowing down. The analyst expected the market to perform better if inflation data comes out in line or better-than-expected.
2) Airlines expects US flight operations to return to normal on Thursday
On Wednesday, all domestic flights in the U.S had to stop operation because of a computer outage. While the Federal Aviation Administration (FAA) tried to figure out the problems, airline operators expected operations to return to normal on Thursday.
Yesterday, more than 11,300 flights were delayed or canceled; it was the first time in two decades that air traffic problems occurred.
The computer failure barred airports in the US from updating safety notices that would warn the pilot of potential hazards such as runway closures, equipment outages, and construction, which resulted in grounding most of the aircraft early Tuesday.
The FAA said it will perform a preliminary review to determine the problem with the damaged data files; there was no evidence of a cyberattack; the investigation still goes on.
3) Thai consumer confidence hits 25-month high in December
Consumer confidence in Thailand increased for the seventh straight month in December, reaching a 25-month high on the back of steady oil prices, an increase in the number of international visitors, and a depreciation of the baht.
The University of the Thai Chamber of Commerce (UTCC) reported on Thursday the consumer confidence index rose to 49.7 in December from 47.9 in November.
Consumer confidence was buoyed last month by a steady rise in domestic oil prices from a month earlier, an increase of inbound travelers following the country’s reopening, a rally in the Thai stock market, and a stronger baht.
Consumers, however, are concerned about a number of issues including the lingering recovery of the economy, inflation, a decline in exports, the conflict between Russia and Ukraine, a dismal global economic outlook, and an increase in Covid infections.
4) Thai central bank plans to launch virtual bank in 2025
The Bank of Thailand expects to launch operations of virtual banks in the second quarter of 2025, according to the central bank’s senior director Wipawin Promboon.
Without giving specific names of the bank, the senior director noted that the central bank plans to propose giving licences to three operators for virtual banks, while opening up for additional applicants.
Wipawin Promboon noted that banks that meet qualifications for virtual banks must have registered capital of at least 5 billion baht and that foreign operators must have a Thai partner.
Currently, all Thai commercial banks listed in the market have registered capital of over 5 billion baht.