Telecoms brought the market back up strongly along with a rally again in financials post their 2Q12 earnings short term sell off. Going forward except the same news revolving around a slowing European economy, China, US etc etc. What will be interesting is to see how the Energy sector performs this coming week with oil prices and petrochem spreads rebounding.
The cabinet decided on Tuesday to keep value-added-tax (VAT)at seven per cent for the next two years, deferring the Finance Ministry’s proposed hike to nine per cent, and approved a four-point rehabilitation plan proposed by the National Economic and Social Development Board.
I’m happy to see this happen for selfish reasons, in that the price of my basic goods don’t go up! Ultimately stock market strategists will come out in droves and say that this is positive for consumer good related stocks (MAKRO, BIGC) but I’ll just be happy that the price of my mama noodles don’t go up :)
Source: Bangkok Post
KBANK is mimicking SCB’s successful expansion into Investment Banking (3 years ago), I’m not too surprised by the move given both banks move from pure depositor-lenders to more universal banks and over the short-mid term I wouldn’t be surprised to see more deals happening in Thailand which could make for an exciting period in the market, then again lets hope things do not get too out of hand.
Corporate banking customers looking to invest locally and abroad are demanding financial advisory services to help them raise funds through the equity and debt capital markets. Having integrated services at a financial house could serve the requirements of these businesses.
KBank has approached veteran financiers from KTB Advisory to supervise the investment banking division.
Panop Ansusinha, who heads the new division, said equity capital from Kasikorn Securities (KSEC) would be transferred to the bank, and KSEC would oversee brokerage services.
Source: The Nation