Category: The Bangkok Post

Today’s US midterm elections could benefit Thailand and global trade, as stronger checks and balances between Congress and President Donald Trump could reduce US policy uncertainty and ease market volatility, analysts say.

Apichart Phubanjerdkul, senior director of the strategic analysis division at Tisco Securities, expects the Nov 3 US midterm elections to have a positive impact on financial markets, potentially easing policy uncertainty and supporting a recovery in Thai equities later this month.

Current polls and prediction markets suggest that the Democratic Party has a strong chance of winning control of the House of Representatives, while the Senate race remains relatively close.

“Election results could help reduce market volatility by strengthening the system of checks and balances between Congress and the president, potentially limiting policy uncertainty,” he said.

Historical data also show that US equities tend to perform positively following midterm elections, generating returns of around 1% to 6% over the following 1-3 months, with a 70-80% probability of positive returns.

He expects markets to remain volatile during the first half of November. However, Thai equities could recover in the second half of the month as investors gain greater clarity on the election results and corporate earnings.

For their investment strategy, Mr Apichart recommends that investors prepare for heightened short-term volatility by diversifying their portfolios across different investment themes.

According to Prakit Siriwattanaket, managing director of Merchant Partners Asset Management, historical data show that the S and P 500 has risen in the six months following every US midterm election, regardless of which party controls Congress, with the difference lying mainly in the magnitude of the gains.

Records covering 20 midterm elections between 1946 and 2022 show that the president’s party has generally lost seats in Congress. The House is more likely to change political control because all its seats are contested every two years, compared with one-third of Senate seats, said Mr Prakit.

The 2018 election illustrates this pattern. Democrats gained control of the House while Republicans retained the Senate under President Trump. The S and P 500 rose in November before falling sharply in December, then recovered in the first quarter of 2019, partly supported by the Federal Reserve’s shift towards a less restrictive monetary policy, he noted.

CONFLICT CLOUDS MARKETS

Some investors, meanwhile, have adopted a wait-and-see approach amid concerns over a possible US military strike following the Nov 3 midterm elections.

Trump had indicated that no further attack would take place before the midterm elections, prompting speculation over whether military action could resume after the vote. Investors are closely monitoring the situation, said Pichai Lertsupongkit, chief commercial officer at InnovestX Securities.

The uncertainty has increased demand for safe-haven assets and defensive stocks. As a result, gold prices have rebounded after falling below US$3,900 an ounce late last week to reach their lowest level of the year, noted Mr Pichai.

Krungsri Securities (KSS) shared a similar view, saying the risk of conflict had risen, with some media reports citing US officials as saying Washington was preparing for a short but intense military operation against Iran, potentially as early as Nov 4.

“The market is likely awaiting the US response, specifically from Trump, following the midterm elections on Nov 3, with results expected on the morning of Wednesday Thailand time,” said the brokerage.

If the US resumes attacks on Iran, particularly if Iran retaliates by targeting energy infrastructure or the Strait of Hormuz, supply risks would rise, pushing up Brent crude prices and adding inflationary pressure, KSS added.

Thailand is one of four countries selected by Roblox for the initial rollout of Build, an artificial intelligence-powered game creation tool, as the company taps local creativity to help more users develop games and pursue commercial opportunities on its platform.

Roblox is an immersive gaming platform where users can discover online games and play together. It also functions as a game creation studio and engine for developers and artists.

“We’ve seen the creativity, optimism and entrepreneurial energy in Thailand. We want to continue collaborating with the creators here to turn their ideas into experiences, communities and businesses that can reach the world,” said Papri Dev, head of Asia-Pacific communications at Roblox.

“We are working closely with regulators, local communities and parents,” she added.

The mobile-first tool turns text prompts into basic, playable games without requiring coding experience. Thailand joins New Zealand, Singapore and Serbia in the rollout, Ms Dev said.

Thailand is highlighted as a market known for its strong culture of creativity, with a community of creators eager to learn, experiment and improve their skills.

Build operates within the Roblox mobile app, allowing users to describe a game in plain language and receive a working starting point within minutes.

They can refine, playtest, share and publish their creations without leaving the app. The core experience is free.

Creators seeking more advanced features can move the same project into Roblox Studio, the company’s free development tool, to build more complex games.

AI is also gaining ground among the platform’s most popular games. In the third quarter, Break and Steal an Egg and Huss Valley — both created almost entirely with AI, according to Roblox — entered its top 20 games by concurrent players.

At its UNBOX ROBLOX media event in Bangkok, the company showcased Thai developers turning personal interests and cultural influences into games and businesses.

Roblox reported 138 million daily active users globally in the third quarter, with 30% based in Asia-Pacific.

To support regional growth, the company appointed Joel Neoh as managing director for Southeast Asia and Oceania in October. As the senior business lead across the two regions, Mr Neoh oversees strategy, partnerships and support for local developers and studios.

Mr Neoh said Roblox could help a new generation of regional creators turn ideas into experiences, communities and businesses with global reach.

Zhen Fang, Roblox’s vice-president of international, said the company would continue investing in local teams, creators and partners as part of its long-term commitment to the regions.

Suvarnabhumi airport is expediting repairs to a taxiway after an Emirates Airbus A380 became immobilised on Monday night. The incident happened less than a week after the landing gear of a China Airlines plane got stuck on a runway at Thailand’s largest airport.

Airport officials said on Tuesday that Emirates flight EK373, bound for Dubai and operated by an Airbus A380, was unable to continue taxiing while on Taxiway E21 at 9.11pm on Monday.

The airport quickly contacted the ground-handling operator Bangkok Flight Services to dispatch an aircraft towing vehicle. The aircraft was successfully removed from the area at 10.18pm and subsequently departed at 10.22pm.

An inspection found that a section of Taxiway E21 had sustained surface damage. Airport officials attributed the problem to prolonged periods of heavy rainfall and flooding in areas surrounding the airport, which had increased water accumulation beneath the soil layers.

The excess moisture is believed to have weakened parts of the taxiway pavement, which subsequently deteriorated under the weight of the superjumbo aircraft.

Emirates A380 aircraft seat between 484 and 615 passengers, depending on the specific cabin configuration.

Suvarnabhumi officials said they have since launched a comprehensive assessment of the structural integrity of Taxiway E21 and adjacent areas. Emergency repair work is scheduled from 7pm on Tuesday until 8am on Friday.

The timeframe includes both the repair process and the period required for the rehabilitated pavement to gain sufficient strength before being returned to service, according to the airport’s statement.

To minimise operational impacts, Suvarnabhumi Airport is preparing to bring into service a newly completed extension of Taxiway D located near the affected area. The site is currently undergoing inspection by the Civil Aviation Authority of Thailand and is expected to provide an additional route for aircraft accessing runway 02R-20L.

No impact on flights

During the closure of the affected taxiway section, the airport will work with Aeronautical Radio of Thailand (Aerothai) and air traffic control authorities to manage aircraft movements using the airport’s two remaining runways.

Aerothai has confirmed that the available runways have sufficient capacity to accommodate flight operations, and no significant disruption to overall airport services is anticipated.

Suvarnabhumi airport stressed that it would continue to inspect and strengthen affected airside infrastructure while carrying out a long-term maintenance programme aimed at ensuring safe, efficient and uninterrupted operations, as well as maintaining confidence of airlines and passengers.

The incident involving the Emirates plane came just days after a similar mishap on Runway 02R.

On Oct 28, the landing gear of a China Airlines Boeing 737-800 got stuck in a damaged section of the runway as it was preparing to take off for Kaohsiung in Taiwan.

The plane was evacuated and moved before the damaged runway section received a temporary repair.

The top of a chedi crumbled and fell to the ground at Wat Mai Nong Hoi in Doi Lo district, Chiang Mai, on Tuesday morning, raising concerns over the stability of nearby structures.

There were no initial reports of people being injured.

The incident occurred around 9.30am, and Regional Ecclesiastical Office 7 subsequently issued an urgent advisory closing the area to the public. The report alarmed local devotees.

The chedi, in San Ti Suk tambon, sustained severe damage. Fallen bricks and broken construction concrete littered the ground at its base.

Video recordings captured a cracking sound immediately before the top of the structure gradually crumbled and fell.

Regional Ecclesiastical Office 7, working with local officials and agencies, cordoned off the surrounding area and structures as a precaution against further damage occurring.

The cause of the collapse was unknown. Authorities are investigating the incident.

The government’s revenue collection for fiscal 2026, which ended in September, slightly exceeded the target by 0.9%, according to the Finance Ministry.

As of Sept 30, 2026, the final day of fiscal year 2026, the government recorded net revenue of 2.95 trillion baht after deducting tax refunds and value-added tax (VAT) allocations to local administrative organisations, up 4.3% from the corresponding period of the previous fiscal year and 0.9% above the government’s revenue target.

According to a document released by the Finance Ministry, the accelerated refunding of corporate income tax during the past fiscal year resulted in tax refunds exceeding the estimated amount, thereby reducing the government’s net revenue. However, speeding up tax refunds helped improve business operators’ liquidity.

The revenue categories that exceeded their targets included VAT collected from domestic consumption, VAT on imported goods and corporate income tax, as well as remittances from state-owned enterprises. The higher-than-target and year-on-year revenue collections were consistent with the economic growth trend, supported by expanding domestic consumption and higher prices for imported crude oil, as well as growth in the oil refining and power generation sectors.

A breakdown of government revenue by source, particularly collections by the three main tax agencies — the Revenue Department, the Excise Department and the Customs Department — showed that the Revenue Department collected a total of 2.52 trillion baht in fiscal 2026, up 8% from the previous fiscal year and 3.1% above its target.

The Excise Department collected 565 billion baht, an increase of 5.3% year-on-year, although the figure was 2.2% below its target. Meanwhile, the Customs Department collected 116 billion baht, down 2.5% from the previous fiscal year and 5% short of its target.

State-owned enterprises, which are required to remit revenue to the Finance Ministry, contributed a total of 203 billion baht in fiscal 2026, up 14.6% from the previous year and 11.3% above the target.

Other government agencies that generate revenue, such as the Treasury Department, remitted a combined total of 177 billion baht, down 20.1% from the previous year but 7.5% above the target.

In addition, the government issued tax refunds through the Revenue Department and the Customs Department totalling 478 billion baht. A further 157 billion baht in VAT revenue was allocated to local administrative organisations in accordance with the laws governing fiscal decentralisation.

For fiscal 2027, which began on Oct 1, the government has set its expenditure budget at 3.78 trillion baht and expects to collect 3 trillion baht in revenue.

The budget will therefore remain in deficit, with 788 billion baht in borrowing planned to finance the shortfall. However, the amount of borrowing required to cover the deficit is 8.4% lower than the budgeted amount for the previous fiscal year.

The mobile cabinet meeting in Udon Thani on Tuesday will consider 170 development projects worth more than 78.5 billion baht, covering agriculture, border trade, tourism and drug suppression across five northeastern provinces.

The proposals were reviewed on Sunday by the public-private joint committee for Upper Northeastern Province Cluster 1 — comprising Udon Thani, Bung Kan, Loei, Nong Khai and Nong Bua Lam Phu — chaired by Deputy Prime Minister Songsak Thongsri.

A Government House source said on Monday the proposals comprise 101 quick-win projects worth 2.88 billion baht and 69 long-term projects valued at 75.6 billion baht. Border trade accounts for the largest allocation, with 35 projects worth 57.6 billion baht, followed by 66 tourism projects worth 9.89 billion baht, 38 agricultural projects worth 7.96 billion baht and 31 anti-drug initiatives worth 3.04 billion baht.

Mr Songsak said the proposals were designed around the economic potential of each province, with agriculture remaining a priority under the government’s food security policy.

National Economic and Social Development Council secretary-general Danucha Pichayanan said the agricultural strategy would focus on improving productivity, promoting high-value food processing and strengthening lab testing to meet food safety standards.

The region, home to more than 3.6 million people, recorded border trade worth 174 billion baht in 2025, the second-highest nationwide. However, only 7.12% of its agricultural land is irrigated, leaving farmers vulnerable to drought.

Experts on Thai-Japan relations say Japan and Thailand should deepen cooperation in advanced manufacturing, clean energy and digital infrastructure to strengthen regional competitiveness and economic resilience.

Japan’s long-standing investment in Thailand is increasingly shifting towards industrial upgrading, automation, electric vehicles (EVs) and digital transformation, creating opportunities to expand cooperation beyond traditional manufacturing into research and development (R and D) and advanced production.

Prof Arata Kuno of Asia University highlighted the importance of international cooperation among trusted partners, particularly through existing trade agreements, shared expertise and common infrastructure standards as economic and cybersecurity risks cross national borders.

Kyoko Hokugo, deputy director-general of the Asian and Oceanian Affairs Bureau and the Southeast and Southwest Asian Affairs Department at Japan’s Ministry of Foreign Affairs, said Asean was emerging as a global growth centre, with its gross domestic product expected to surpass Japan’s in 2027.

Thailand remains a major destination for Japanese investment, hosting more than 6,000 Japanese companies with cumulative investment of approximately 3.1 trillion baht. Between 2021 and mid-2026, Japanese businesses increasingly pursued industrial upgrading, automation, EV production and digital transformation through Thailand’s Board of Investment.

Professor Seiya Sukegawa of Kokushikan University’s Faculty of Political Science and Economics highlighted opportunities to expand industrial cooperation and digital transformation, moving beyond basic assembly towards integrated R and D and advanced manufacturing.

Energy security and decarbonisation are also key areas for cooperation through Japan’s Asia Zero Emission Community initiative. Potential projects include low-carbon concrete using carbon capture and utilisation technology, alongside cooperation in liquefied natural gas infrastructure, power systems, energy efficiency, renewable energy, hydrogen, ammonia and carbon capture, utilisation and storage.

Junya Ujiie, director of the GX Business Department, Plants and Infrastructure Systems at Mitsubishi Heavy Industries, said Japanese companies had contributed to Thailand’s industrial development since the 1980s. Recent initiatives include organic Rankine cycle technology and feasibility studies involving Thailand’s PTT and Mitsubishi Heavy Industries on hydrogen and ammonia.

Digital infrastructure is another emerging area. Thailand is seeking to establish itself as a regional data-centre hub, attracting investment in infrastructure and supporting industries ranging from telecommunications and energy to engineering, cybersecurity and software.

Thailand is developing direct power purchase agreements for eligible electricity buyers alongside its Utility Green Tariff to support data-centre expansion while improving access to lower-carbon electricity, according to the Energy Regulatory Commission.

Japan and Thailand are also working within a broader regional framework on cybersecurity, environmental management and energy connectivity, according to Japan’s Ministry of Foreign Affairs (MFA).

Ms Hokugo said closer cooperation could help Japan and Thailand strengthen their competitiveness.

The Meteorological Department expects the cold season in Thailand to start later than usual this year due to the strong El Nino weather phenomenon.

According to the department, El Nino this year is at least as severe as the one the region experienced in 2023.

The intensified El Nino phenomenon three years ago caused rain to continue in the Central Plains and the East in the first half of November. Afterwards temperatures fell and the department announced the cold season began on Nov 14, 2023.

The department has forecast that the arrival of the cold season this year may also come in mid-November.

Somkuan Tonjan, director of the Aeronautical Meteorology Division at the department, said weather fluctuations would continue until Thursday.

During the period, the wind direction will be changing, cold air over the South China Sea will remain either weak or moderate, and thunderous rain will be likely in parts of the lower Northeast and the lower Central Plains including Greater Bangkok.

From the end of the first week of November, the direction of the cool winds will become more stable but air humidity will remain high. There will be thunderous rain in the evening and at night in the lower Northeast, the Central Plains including Greater Bangkok, and in the upper South, Mr Somkuan said.

Khon Kaen Geopark has successfully passed a Unesco review process is on track to become Thailand’s third Unesco global geopark, pending final approval in April next year, according to Natural Resources and Environment Minister Suchart Chomklin.

The Unesco Global Geoparks Council, meeting this week in Paris, gave preliminary approval to 12 applicants from around the world, including Khon Kaen Geopark, Mr Suchart said on Tuesday.

If approved by the Unesco executive board in April, Khon Kaen will become the third Unesco-listed Geopark in Thailand, alongside Satun and Korat.

The Department of Mineral Resources first conceived the idea of ??establishing the Khon Kaen Geopark in 2011, as part of a programme to educate the public about the value of the northeastern province’s geological and fossil resources.

Khon Kaen Geopark, also referred to as the ‘Dinosaur Kingdom of Phu Wiang Valley’, is a major geological and paleontological conservation area straddling Wiang Kao and Phu Wiang districts on the western margin of the Korat Plateau.

Mr Suchart attributed the Unesco recognition to the cooperation of all stakeholders, particularly the Khon Kaen Provincial Administration Organisation, which has played a leading role in supporting the geopark’s development.

The Department of Mineral Resources has also provided academic support, including geological heritage conservation in line with international standards.

Mr Suchart said the Unesco council commended Khon Kaen Geopark’s independent management structure and the support it receives from the Khon Kaen PAO.

‘This marks another important step for Thailand in elevating its geological heritage to global recognition, particularly significant dinosaur fossil sites and valuable geological resources in Khon Kaen province,’ he said.

Police forced their way into a university student’s room to warn her she was online to a scammer who had already cheated her out of 400,000 baht.

Investigators from Bangkok’s Din Daeng and Huai Kwang police stations b saved the second-year student from even heavier losses on Monday.

The young woman, identified as 19-year-old “Han” from Buri Ram province, studies at a university in the Din Daeng area and was initially deceived by a caller claiming that her name was linked to an online gambling case.

Other scammers impersonated police officers during a video call and persuaded her to transfer money for investigation purposes, and she handed over about 400,000 baht in all.

The criminals were on-line, persuading her to transfer additional funds when police intervened, Metropolitan Police division 1 deputy commander Pol Col Sakkaya Saengwandeputy commander Pol Col Sakkaya Saengwan said on Tuesday.

The case came to light after investigators received an alert from the Royal Thai Police Office Technology Crime Suppression Centre about 11am on Monday, reporting that Ms Han had contacted her father and requested 500,000 baht.

The young woman subsequently transferred money to the scammers via three transactions of 49,900 baht each, totaling 149,700 baht. In addition, she withdrew 250,000 baht in cash and handed it over to one of the scammers she was told to meet near a dormitory on Soi Pracha Songkhroh 27 in Bangkok’s Din Daeng district.

About 6pm on Monday, Pol Col Sakkaya and Din Daeng investigators went to the victim’s dormitory room.

He said when they arrived she was engaged in a video call with the scammers and refused to open the door to police.

Frustrated, and aware there was a scam going down, police eventually forced open the door to her room and explained that she was being deceived and ending the call. She was later advised to file a complaint at Din Daeng police station.

According to the victim, the scam began when she received a phone call from a person claiming to represent a mobile phone service provider.

The caller alleged that her phone number had been used by a third party to distribute promotional clips encouraging people to gamble on illegal online betting websites.

The caller advised her to report the matter to police at Muang police station in Phichit province to prove her innocence.

The scam gang also instructed the student to deceive her parents by claiming that she had received a scholarship to study in South Korea and needed 500,000 baht as a financial guarantee. She followed their instructions and gave them money as and when they directed.

The victim’s parents were alerted by their bank that their daughter had withdrawn a large sum of money and transferred funds to another person’s account, raising concerns that she had fallen prey to a call-centre scam.

When her parents attempted to contact her, she did not answer because she was still communicating with the scam gang. The parents then sought help from police.

Investigators were now tracking down those involved, including the person who collected the cash from the victim, Pol Col Sakkaya said.

According to a police source, CCTV footage showed the suspect who collected the 250,000 baht cash payment was a tall man wearing a polo shirt. After receiving the money, he left in a car.

The investigation is continuing.