BANGKOK (Reuters) – Luxury fashion and auto brands in Thailand have turned to selling their products on Japanese chat app Line amid the coronavirus pandemic, tapping the country’s growing appetite for social commerce, a top executive said on Thursday.
Brands like Louis Vuitton, Chanel and Volvo were among those that opened official accounts on the messaging app, which outranks Facebook’s WhatsApp and Rakuten’s Viber in Thailand, aiming to connect with users during a coronavirus lockdown.
“The luxury category was forced to adapt because their stores were closed,” Line Thailand chief commercial officer, Norasit Sitivechvichit, told Reuters.
Thailand earlier this year imposed a nationwide curfew and closed malls for nearly two months to contain infections.
“During the pandemic, sellers became very active,” Norasit said, adding that others sold cosmetics and fast-moving consumer goods.
Line, which charges sellers for sending messages and live streaming, said its monthly active users in Thailand grew
(RTTNews) – The Thai stock market has finished lower in five straight sessions, sliding almost 45 points 3.4 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,245-point plateau although it’s expected to find traction on Monday.
The global forecast for the Asian markets is upbeat, with technology stocks expected to lead the markets higher amidst bargain hunting. The European markets were mixed and the U.S. bourses were sharply higher and the Asian markets figure to follow the latter lead.
The SET finished slightly lower on Friday following losses from the financial shares and the energy producers.
For the day, the index eased 2.52 points or 0.20 percent to finish at 1,244.94 after trading between 1,241.66 and 1,256.40. Volume was 12.687 billion shares worth 45.623 billion baht. There were 898 decliners and 544 gainers, with 461 stocks finishing unchanged.
* Graphic: World FX rates tmsnrt.rs/2egbfVh
* Graphic: Foreign flows into Asian stocks tmsnrt.rs/3lKhL5I
* Ringgit falls after Anwar claims parliamentary majority
* Thai central bank decision around 0700 GMT
By Anushka Trivedi
Sept 23 (Reuters) - Asian emerging currency and stock
markets lost more ground on Wednesday, with the Thai baht
suffering from concerns about a struggling economy while the
Malaysian ringgit fell after opposition leader Anwar Ibrahim
claimed he had a majority in parliament.
This week's strength of the U.S. dollar continued to weigh,
with the Taiwanese dollar a consistent outperformer,
thanks to its tech-heavy economy, again the only outlier.
Stock markets were all down across the board, led by
Malaysia, with India bucking the trend thanks to signs
of more deals for the energy-to-retail conglomerate Reliance
, already the subject of major investment from
Facebook, Google and other big foreign players this year.
The ringgit fell 0.7%