Thailand’s SET Index closed at 1,383.54 points, increased 3.23 points or 0.23% with a trading value of 35.5 billion baht. The analyst stated that the Thai stock market was unable to rise as much due to a lack of positive catalysts to drive the market. The market was also pressured by the energy stocks from a decline in oil prices and the holiday tomorrow.
The share price of Evergrande (HKG: 3333) rose as much as 16% in the morning session on Monday as a court hearing to wind up the property giant has been postponed yet again.
Evergrande was originally scheduled to face a Hong Kong court hearing on Monday over a petition from Top Shine, an investor in Evergrande unit Fangchebao, seeking to wind up the company. The date was once pushed off from October 30 to December 4 by a high court judge. Evergrande must come up with a proposal to its creditor or face a wind up on December 4.
Shares of Evergrande increased as high as HKD 0.28 on Monday from the closing of HKD 0.24 on Friday, representing a 16.66% gain.
It was reported that on Thursday proposed creditors a 17.8% stake in the group company, in addition to 30% shareholding in each of its units — Evergrande Property Services Group and Evergrande New Energy Vehicle Group.
The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) announced the launch of the FPS x PromptPay Link for cross-border QR payment between Hong Kong and Thailand today (4 December). This initiative provides a fast, secure and easily accessible cross-border retail payment service to people travelling between Hong Kong and Thailand.
Through this linkage, travellers from Thailand and Hong Kong will be able to make retail payments by using their mobile payment applications to scan the Hong Kong FPS QR code and Thai PromptPay QR Code displayed by merchants respectively. Users will benefit from an additional efficient payment means, while merchants will be able to receive their funds immediately. This payment connectivity will provide travellers with greater convenience, hence supporting tourism and economic activities of Hong Kong and Thailand.
