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Country under state of emergency until June 30
May 26. 2020
By THE NATION
The Cabinet resolved on Tuesday (May 26) to extend the state of emergency until the end of June, while Dr Taweesin Visanuyothin explained that the decree had been enforced in the first place because it allowed more than 40 laws to be tied together to allow for quick enforcement.
Last week, government spokesperson Narumon Pinyosinwat had indicated that the National Security Council wanted to extend the decree because it would help save people’s lives. She also dismissed as illogical claims that the state of emergency was being extended so the prime minister could tighten his hold on power.
Meanwhile, non-profit organisation iLaw said the government could use a law that is less severe to impose controls on businesses, travel and public health.
For instance, it said, the government could enforce the Contagious Disease Control Act to stop people from gathering outside their homes as well as close high-risk venues, as the act is more flexible than the Emergency Decree.
The agency also pointed out that Covid-19 cases had only been found in 10 provinces over the past 20 days, and there were less than 100 patients being treated in hospital. Hence, extending the state of emergency was illogical, iLaw said.
Meanwhile, the panel chaired by National Security Council secretary-general General Somsak Rungsita will on Wednesday meet to discuss the third phase of easing lockdown measures as well as whether the curfew hours should be cut to midnight to 4am. The third phase of easing measures is expected to kick in from June 1.
The meeting’s resolution will be proposed to the Centre for Covid-19 Situation Administration on Friday (May 29) and guidelines for businesses and activities under the third phase will be announced on Saturday.
Separately, the Asian Development Bank has said the global economy could suffer between US$5.8 trillion and $8.8 trillion (Bt186.24 trillion and Bt282.57 trillion) in losses, equivalent to 6.4 to 9.7 per cent of the global GDP, as a result of the Covid-19 pandemic.
SET rallies over news of Covid-19 vaccine tests
May 26. 2020
By The Nation
The Stock Exchange of Thailand (SET) Index rose by 15.11 points or 1.14 per cent, closing at 1,336.09 today (May 26).
Total transactions amounted to Bt73.954 billion with an index high of 1,345.31 and a low of 1,332.30.
An analyst at Krungsri Securities expects the index to rise to between 1,330 and 1,335 points thanks to progress in the development of a Covid-19 vaccine as well as hopes for a third round of measures being eased.
“Novavax, a clinical-stage biotechnology company, has launched the first phase of vaccine trials and expects to have results by July,” the analyst said.
He added that economic activities and investment will also gain positive sentiment from the Centre for Covid-19 Situation Administration’s third phase of easing lockdown measures by the end of this week.
“However, the index will be under pressure from uncertainty related to the US-China trade war, especially after Washington said it may impose sanctions on Beijing if it enforces a national security law in Hong Kong,” the analyst said.
The top 10 stocks with the highest trade values today were MINT, CPALL, STA, BAM, KCE, PTT, AOT, CPN, BBL and SUPER.
As of 4.30pm, crude oil price rose by US$0.83 or 2.50 per cent to $34.08 per barrel, while gold dropped by $10.80 or 0.62 per cent to $1,724.70 per ounce.
The global indices were on the rise:
Japan’s Nikkei Index closed at 21,271.17, up 529.52 points, or 2.55 per cent.
China’s Shanghai SE Composite Index closed at 2,846.55, up 28.58 points, or 1.01 per cent, while Shenzhen SE Component Index closed at 10,815.43, up 222.59 points, or 2.10 per cent.
Hong Kong’s Hang Seng Index closed at 23,384.66, up 432.42 points, or 1.88 per cent.
South Korea’s KOSPI Index closed at 2,029.78, up 35.18 points, or 1.76 per cent.
Taiwan’s TAIEX Index closed at 10,997.21, up 126.03 points, or 1.16 per cent.
Tuesday, March 26, 2020