August 2021 – Page 12 – ASEAN Economic Community Strategy Center

August 26, 2021

Malaysia: Ringgit extends gains against US dollar on positive market sentiment

KUALA LUMPUR, Aug 26 — The ringgit has extended its winning streak for the fourth consecutive day today, spurred by better risk appetite for risky assets and emerging currencies, underpinned by the positive market sentiment, dealers said. At 9am, the local note stood at 4.1950/2000 versus the greenback, compared with Wednesday’s close of 4.2010/2055. A dealer said the easing worries over the imminent tapering of […]

August 26, 2021

Thailand: Factories reel under cost burden of compulsory Covid prevention measures

More than 60,000 factories are hit by a spike in costs due to the government’s Covid-19 prevention measures that have been enforced in provinces with a high infection rate, Wisit Limleucha, vice president of the Federation of Thai Industries (FTI), said on Wednesday. The government has stipulated that factories in “dark red” provinces, having more […]

August 26, 2021

Philippines: BOP returns to surplus as government borrowed more

MANILA, Philippines — The balance of payments (BOP) returned to a surplus in July, ending two straight months in deficit, as the national government borrowed more from abroad to augment its COVID-19 war chest. Data from the Bangko Sentral ng Pilipinas (BSP) showed the $642-million surplus last month was a reversal of the $312-million shortfall […]

August 26, 2021

Thailand: Baht expected to strengthen quickly in the short term

The baht opened at 32.71 to the US dollar on Thursday, unchanged from Wednesday’s closing rate. The Thai currency is likely to move between 32.60 and 32.80 during the day, Krungthai Bank market strategist Poon Panichpibool said. Poon expected the baht to strengthen in the short term amid hopes of an economic recovery. The government […]

August 25, 2021

Thailand: Cabinet approves VAT extension

The cabinet on Tuesday approved the extension of the 7% value-added tax (VAT) rate for another two years to help reduce the financial burden of consumers, enhance business confidence and boost economic recovery. Rachada Dhanadirek, a deputy government spokeswoman, said the 7% VAT will be retained until Sept 30, 2023. The 7% tax rate, which […]

August 25, 2021

Owning Singapore stocks has been a poor bet even for investors with long horizons

WEALTH management experts often advise investors not to put any funds they might immediately need in the stock market. To maximise the benefit of traditionally high returns from owning stocks, and mitigate the inherently volatile nature of this asset class, investors should plan to have as long a holding period as possible. So, what is […]

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Monthly Archives: August 2021