1) Thai stock market overview
Thailand’s SET Index closed at 1,673.25 points, decreased 5.72 points or 0.34% with a trading value of 76 billion baht. The analyst stated that the Thai stock market fluctuated in today’s session, moved by a plummet in DELTA from profit taking and PTTEP and PTT from lower oil prices. The analyst expected SET Index tomorrow to moved in sideways trend without positive driver, giving a support level at 1,660-1,665 points and a resistance level at 1,675-1,680 points.
2) Thailand expects 5 million Chinese tourists in 2023
As China reopens its borders, Thailand’s tourism official expects at least five million Chinese visitors this year—roughly half the number recorded before the coronavirus pandemic.
On January 8, China will drop its management of Covid-19, at which point it will reopen borders and end quarantine. This move marks the final stage of the country’s transition from a three-year “zero-Covid” period to a “live with the virus” stance.
In 2019, before the Covid outbreak, Thailand saw 39.9 million international tourists, with over 11 million visitors from China, nearly a third of the total.
According to tourism officials, the return of Chinese tourists would be a further boost to Thailand’s economy and vital tourism sector.
Thai Tourism Authority governor Yuthasak Supasorn told Reuters that the office anticipates 300,000 visitors from China in the first quarter of this year. Those numbers are in comparison to 220,000 through the first 11 months of 2022.
The government has also set a goal of 25 million international visitors in 2023, up from the previous projection of 20 million.
3) Japan requires all visitors from China to take Covid test from Jan 8
The Japanese government announced Wednesday that beginning January 8, travelers from China will be required to test negative before leaving for Japan and will be subjected to a PCR test upon arrival in order to prevent a rapid surge in Covid infections in the country.
Prime Minister Fumio Kishida stated that, in response to a sharp increase in new coronavirus cases in China, Japan will strengthen measures at its borders to restrict entry to neighboring country, as part of its effort to prevent the spreading of Covid-19, which would place further strain on its medical system or lead to new variants.
According to Kishida, Japan will continue to request that airlines not increase the frequency of direct flights from mainland China.
Late in December, Kishida’s government introduced temporary restrictions on travelers from China to curb the spread of the disease. Those arriving from mainland China or within seven days would need to undergo a Covid screening test upon arrival.
4) Japan’s Dec manufacturing activity posts sharpest fall in over two years
Factory activity in Japan fell at the sharpest pace in 26 months in December, a business survey showed on Wednesday, with companies expecting further drops amid a global economic slowdown.
In December, the au Jibun Bank Japan manufacturing purchasing managers’ index dropped to a seasonally adjusted 48.9 from November’s final 49.0. This was the lowest reading since October 2020, when it hit 48.70.
The report cited “weak global economic trends” as the cause of the manufacturing declines.
“The downturn was largely centred around the current demand environment which is weak both internationally and domestically,” said Laura Denman, economist at S&P Global Market Intelligence.
Input price inflation fell to a 15-month low, signaling lessening cost pressures, according to the poll, but the remainder of the results pointed to darker prospects for Japan Inc. in early 2023.
Analysts predict that Japan’s production will remain weak for the next few months as a result of falling international demand and the coronavirus situation in China.
