George Soros has an op-ed out on the Brexit and as usual its a fun read. Here are some snippets and a link to the rest of the article.
This is wishful thinking. It would have at least one very clear and immediate effect that will touch every household: the value of the pound would decline precipitously. It would also have an immediate and dramatic impact on financial markets, investment, prices and jobs.
This silly catch word will dominate the headlines for the week “Brexit”. I don’t quite care what happens but any volatility is welcome. What else? Well a there’s a lot of central banks meeting this week in the region, so that could be amusing if one of them decides to actually make a move with the monetary policies.
Buy(s) THB 606 mn
- BDMS – Massive buying again!
- COL – Now this interesting, I’ve always wondered when or how this company will be able to be successful. Would Central Group shove its Lazada purchase into COL?
- PLANB – Their 1Q #’s were awful hence the ~20% drop in share price, but the owners seem to still believe in its future
Sell(s) THB 8.2 bn
- AAV – Boom the huge sale to King Power
- KSL – Are they still afraid of sugar prices?
- IHL – The MD sells some 2% of outstanding shares
- Ministry looking at land windfall tax — The Finance Ministry has floated the idea of taxing landlords who benefit from skyrocketing land prices driven by the government’s large infrastructure developments. (Bangkok Post, 13/06/16)
- Satellite fee structure revamp eyed — The government is considering a revamp of the operating fee structure for the satellite industry in a bid to make this aspect of the space economy generate greater benefits for the country, a government official said. (Bangkok Post, 13/06/16)
- THE Commerce Ministry will continue to focus on government-to-government (G2G) contracts for the release of rice from stockpiles, as well as general rice auctions in the second half of the year after opening a big-lot bid for 2.24 million tonnes tomorrow. (The Nation, 14/06/16) A working panel will be set up by the government to closely monitor the progress of key infrastructure and water development projects and propose legal amendments to ease doing business. (Bangkok Post, 14/06/16)
- China’s fiscal revenue rose 7.3 percent year on year to 1.546 trillion yuan (US$234.8 billion) in May, data from the Ministry of Finance showed on Monday. The revenue growth was down from the 14.4-percent gain posted for April. (Shanghaidaily, 13/06/16)
- China’s retail sales of consumer goods grew 10 percent year on year in May, compared with the 10.1-percent growth for April, official data showed on Monday. In the first five months, retail sales were up 10.2 percent year on year, according to the National Bureau of Statistics. (Xinhua, 13/06/16) Continue reading WHTW: Top 10
Following on from the FTSE changes , here are the SET’s changes to the SET50, SET100 and SETHD indices. Here’s the summary and the official announcement below:
SET50 Inclusion: BEM, GPSC, KCE & MTLS
SET50 Exclusion: ITD, JAS, M & SCCC
SET100 Inclusion: BCH, COM7, ERW, GLOBAL, IFEC, JWD, MTLS, TRC & TVO
SET100 Exclusion: EARTH, JAS, M, PLAT, SAMTEL, SCCC, SCN, TICON & UV
SETHD Inclusion: ANAN, BJCHI, BLAND, KTC, STPI, TASCO, TTCL & TVO
SETHD Exclusion: BEM, JAS, LH, PTT, PTTEP, SAMTEL, SCCC & TICON
SET50 Index (SET50): 4 companies to be added as index constituents are Bangkok Expressway and Metro Pcl. (BEM), Global Power Synergy Pcl. (GPSC), KCE Electronics Pcl. (KCE) and Muangthai Leasing Pcl. (MTLS), resulting in a combined market capitalization of the SET50 index worth THB 8.61 trillion, accounting for 69 percent of the total SET’s market capitalization (as of May 31, 2016).
SET100 Index (SET100): There will be 9 additions to the index, namely Bangkok Chain Hospital Pcl. (BCH), COM7 Pcl. (COM7), The Erawan Group Pcl. (ERW), Siam Global House Pcl. (GLOBAL), Inter Far East Energy Corporation Pcl. (IFEC), JWD Infologistics Pcl. (JWD), Muangthai Leasing Pcl. (MTLS), TRC Construction Pcl. (TRC), and Thai Vegetable Oil Pcl. (TVO), resulting in a combined market capitalization of the SET100 index worth THB 9.72 trillion, accounting for 78 percent of the total SET’s market capitalization (as of May 31, 2016).
SET High Dividend 30 Index (SETHD): 8 companies will be added to the index, consisting of Ananda Development Pcl. (ANAN), BJC Heavy Industries Pcl. (BJCHI), Bangkok Land Pcl. (BLAND), Krungthai Card Pcl. (KTC), STP&I Pcl. (STPI), Tipco Asphalt Pcl. (TASCO), TTCL Pcl. (TTCL) and Thai Vegetable Oil Pcl. (TVO), resulting in an average dividend yield of the SETHD of 4.74 percent, higher than SET’s average dividend yield of 3.00 percent (between March and May 2016).
These changes are effective today!
– FTSE Small-Cap (+) CPTGF, GVREIT, AMATAV, CGD, TPBI, LPH, CRANE // (-) IMPACT, PLAT, BEAUTY, ORI, LHSC, NOBLE, CNT, PAP, LEE, TR, SE-ED, TGPRO, RICH, CEN
– FTSE Mid-Cap (+) SPRC, IMPACT, TKN, PLAT, BEAUTY // (-) KTIS, THRE, CGD
– FTSE Large-Cap none
– FTSE SET Fledgling Index (+) CTW, TSTE, HTC, SIAM, UPOIC, TLHPF, PRANDA, TGPRO, RICH, CEN, MFC, MIT// (-) WHART, TREIT, M-CHAI, TOG, CRANE
– FTSE SET Shariah Index (+) PS, KCE, SPRC, VNG, ANAN, JWD, TPBI, FORTH, LPH, BR, AJD, PREB, AQUA, PDI, UMI // (-) SUPER, TPIPL, SCI, PM, AIT, SYNNEX, CNT, PAP, TR, SE-ED, TGPRO