Stocks in the finance sector of the Thai stock market edged higher in the morning session on Monday in response to the report of minimum-wage raise.
As of 11:34 BKK time on September 12, 2022, the share price of Ngern Tid Lor Public Company Limited (SET: TIDLOR) rose THB1.25 or 4.35% to THB30.00 per share.
Muangthai Capital Public Company Limited (SET: MTC) increased THB1.75 or 4.12% to THB44.25 per share.
Srisawad Corporation Public Company Limited (SET: SAWAD) gained THB3.00 or 6.15% to THB51.75 per share.
The Ministry of Labour is expecting to propose to the cabinet tomorrow for a 5-8% raise in minimum wage, which could raise the sentiment in higher purchasing power and lower credit risks.
Capital Nomura Securities (CNS) stated that the raise would not impact on structural cost and the ability to repay debt on hire purchase sectors such as SINGER that could benefit from lower NPL and credit cost. Meanwhile, asset management for unsecured loan such as JMT would benefit from the raise as well.
