Business
Top 3 Trading Instruments in Thailand That Are Highly Popular
In Thailand’s ever-evolving financial arena, there’s a growing interest among Thai investors in trading foreign instruments. With the help of online trading platforms, individuals are delving into investment opportunities and navigating the market to gain valuable insights.
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Three of the Most Popular Trading Instruments:
1. USDJPY
The USDJPY pairing, combining the US Dollar and the Japanese Yen, garners significant attention in Thailand and globally as one of the most traded currency pairs. Besides its widespread popularity, USDJPY serves as a crucial risk indicator and safe haven during market uncertainty.
This is due to the Japanese Yen’s relatively lower interest rates compared to other currencies. Investors often employ ‘carry trade strategies,’ leveraging the Yen’s low interest rates to invest in emerging markets and exploit interest rate differentials.
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2. US30
The US30, also known as the Dow Jones Industrial Average (DJIA), serves as a prominent benchmark for US stock market indices. Comprising a price-weighted average of the top 30 large companies, including industry giants like Apple, Coca-Cola, Visa, McDonald’s, and Nike, it holds significant sway on both the New York Stock Exchange (NYSE) and NASDAQ.
Many view this equity index as a gauge of the USA’s economic health due to its historical importance. Investors closely monitor the DJIA. However, its 30-stock composition and price-weighting mechanism can increase its volatility compared to the broader S&P 500, particularly in the short term.
Unlike the NASDAQ 100, which employs a market-cap weighting formula, the DJIA tends to deliver higher annual returns, primarily driven by its substantial weighting in technology stock.
Related News: Man Caught Selling Rare Monkeys
For investors keeping an eye on the Dow Jones, there are several avenues to explore, from acquiring shares of the 30 listed companies to investing in cash index CFDs. These undated transactions mimic the cash price, adjusted for interest and dividends, offering perks like no commission, fees, and low margin requirements at XM.
Moreover, index futures CFDs with specific expiration dates provide cash settlement upon expiration. Dive into the world of Dow Jones investments with XM, where strategic options meet financial expertise.
3. Gold
Gold, represented by XAUUSD, continues to hold its allure as a preferred financial instrument, pairing the US dollar with an ounce of gold. Operating primarily on digital platforms, XAUUSD offers investors the opportunity to engage in digital gold trading.
With gold’s status as a safe-haven asset, it has garnered significant interest among Thai investors, making Thailand the third-largest buyer of gold in Asia. The enduring appeal of gold contributes to the diversification of investment portfolios in the Thai market.
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Understanding the Significance of Trading Popular Instruments:
The significance of trading popular instruments lies in various factors. These widely traded assets bring price stability, ensuring a secure trading environment. With low transaction costs and high liquidity, traders can execute strategies efficiently, engaging in large transactions without significant price fluctuations.
Trading the most popular instruments reduces volatility and provides a more controlled trading experience. Additionally, the abundance of information surrounding popular instruments grants easy access to updated news and expert analyses, enhancing traders’ decision-making processes. Overall, the benefits of stable pricing, low costs, liquidity, and information access make popular instruments an attractive choice for a well-rounded trading experience.
Trade the popular trading instruments with XM:
Explore XM, the regulated all-in-one trading platform serving global and Thai traders alike. With a trusted reputation and catering to 10 million clients, XM offers award-winning services, free education, and cost-effective trading features such as low spreads, no commission, and flexible leverage options.
Offering a diverse range of 9 asset classes and over 1,000 global instruments, XM facilitates better risk diversification. As a licensed and multi-regulated broker, XM prioritizes the security of all traders. Embark on your trading journey with a free welcome bonus upon successful registration.
Experience ultra-fast execution, seamless deposits, and swift withdrawals through secure methods, including Thai banks. Unlock deposit bonuses and additional rewards as you progress.
XM offers various activities, including competitions for all levels with cash prizes, a loyalty program for daily trading rewards, and XM Copy Trading for sharing or copying winning strategies. Choose from multiple full-featured trading platforms, including the XM application for iOS and Android, MT4, and MT5.
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Business
Rayong fishing groups sue Star Petroleum over oil spill devastation
A group of 14 individuals hailing from Rayong, 2qmate release of 50,000 liters of crude oil into the Gulf of Thailand, besmirching the shores of Rayong.
The province’s Fisheries Office reports a toll of at least 2,600 fishermen affected by this calamity. Beyond the depletion of fish stocks in the area, the contamination rendered the remaining catch unsalvageable.
Subsequent to the disaster, local fishermen have found it unfeasible to sustain themselves. Their customary fishing yields from the Rayong coastline have notably dwindled. Many have resorted to extending their maritime excursions or ceasing fishing operations entirely.
“14 Rayong residents sue SPRC over 2022 oil spill, seeking compensation for livelihood losses.”
Lamom Boonyong, president of the Pak Nam Ban Rao fishing community, elucidated that the lawsuit extends beyond the culpability of the oil spill’s perpetrator. Five additional entities stand accused of contravening environmental safeguarding statutes.
Representing diverse factions comprising over 800 members collectively, the plaintiffs aim to establish a precedent with their litigation.
Should the verdict favor their cause, it could pave the way for compensation claims by remaining members, potentially entailing a financial burden of approximately 240 million baht for the implicated company, as per Bangkok Post.
Furthermore, these groups implore governmental intervention to facilitate the restoration of the local marine ecosystem. The Civil Court is slated to review the lawsuit on May 17th.
Business
Pattaya Port Authority prepares 700 speedboats for Songkran
As the Songkran Festival looms closer, Pattaya Port Authority prepares for an influx of travellers with an initiative to ensure safety and convenience. From April 11 to 17, they are set to facilitate seamless water travel between Koh Larn and Pattaya.
To cater to the needs of both locals and tourists, the authority has orchestrated a fleet comprising 60 passenger boats and 700 speedboats. Their ambitious setup aims to handle at least 20,000 travellers daily, totalling a staggering 140,000 to 150,000 over the seven-day festival.
Ekkrach Kantharo, Director of the Regional Marine Office, Pattaya Branch, highlighted the meticulous preparations.
“With Thailand offering visa-free entry for Chinese tourists this year, there’s been a noticeable surge in visitors to Pattaya, especially those flocking to the pristine shores of Koh Larn for relaxation.”
Passenger boats, each capable of accommodating 150 travellers, will shuttle between Pattaya and Koh Larn hourly, with three to four boats scheduled based on demand. Meanwhile, speedboats will offer flexibility for private trips.
The allure of Koh Larn’s scenic beaches and crystal-clear waters has made it a top pick among tourists, driving up the demand for water travel services. Daily port activity in Pattaya has skyrocketed to over 15,000 passengers, with foreigners making up 70%, including Chinese, Russians, and Indians, while Thai nationals account for the remaining 30%.
During the Songkran festival period, the Pattaya Port Authority will set up a dedicated water convenience and public relations centre at the port. Collaborating with Pattaya City, marine police, tourist police, and rescue workers, they aim to prioritise safety.
Strict regulations will be enforced, with boat operators required to conduct thorough checks on vessel conditions and safety equipment, including life jackets and lifebuoys, reported Pattaya Mail.
Regular inspections for drugs will also be carried out to maintain a secure environment for all travellers amid the festive celebrations.
In related news, the Tourism Authority of Thailand (TAT) is anticipating a robust tourism influx from North and South America this year, with a projection of at least 1.5 million tourists – a figure that mirrors the 2019 statistics. This surge is attributed to the confluence of the Songkran celebrations and the Easter holiday in April.
Business
Chiang Mai tourism expects rebound despite hotel booking slump
Chiang Mai, once bustling with tourists, is currently facing a downturn in hotel bookings as of Wednesday.
According to La-iad Bungsrithong, advisor to the Northern Thai Hotels Association, reservations are only at 30% capacity compared to the same period last April.
Despite this gloomy scenario, there is a glimmer of hope on the horizon. La-iad anticipates that occupancy rates will rebound to 70% during the upcoming Songkran Festival.
Scheduled from April 13 to 15 in Chiang Mai, the festival is expected to draw a large number of tourists. Some areas have even designated April 1 as the kickoff for water play festivities.
In related news, Chiang Mai tourism remains optimistic about a recovery despite the current slump in hotel bookings.
Traditionally favored as a cool winter retreat, Chiang Mai has faced additional challenges, notably air pollution. La-iad expressed optimism about a potential increase in tourist numbers by April, provided that the PM2.5 issues are effectively addressed.
“Chiang Mai is currently grappling with alarming levels of air pollution.”
However, this problem extends beyond Chiang Mai, affecting the entire northern region of Thailand. The air pollution crisis significantly impacted the tourism industry in March, causing hotel occupancy rates to drop to 50% from the expected 60%, according to La-iad.
She emphasized the necessity for a comprehensive plan from the Thai government to tackle air pollution. While this might not directly affect local businesses, the contaminated air, high in PM2.5, poses significant health risks.
“The PM2.5 issue requires a nationwide approach that entails concrete and comprehensive plans from the government.”
Additionally, La-iad proposed that Chiang Mai could benefit economically and in terms of tourism with the establishment of an entertainment complex. This could potentially replace the unregulated underground gambling dens. However, she stressed the importance of stringent legal measures and regulations to mitigate any potential societal issues stemming from the casinos.
“However, stringent legal measures and regulations must be carefully implemented to prevent any societal problems arising from the casinos.”
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