1) Thai stock market overview
Thailand’s SET Index closed at 1,518.44 points, decreased 14.07 points or 0.92% with a trading value of 41 billion baht. The analyst stated that the Thai stock market moved in the same direction as regional markets in moving sideways after the publishing of Chinese trade data and the weakening Thai baht caused investors to sell big-cap stocks in the afternoon. Meanwhile, investors continued to monitor the political situations in Thailand.
2) China’s exports and imports tumble by double digits in July
Chinese exports and imports both fell by double digits in July, according to official data released on Tuesday, which was much worse than predicted.
China said Tuesday that exports declined 14.5% in July compared to a year ago, while imports declined 12.4% in U.S. dollar terms.
Exports were expected to fall by 12.5% in July compared to the same month last year, according to a Reuters survey. The poll predicted a 5% decline in imports over that time.
Caixin’s July survey found manufacturers’ new export business contracted fastest since September 2022.
3) Thai shipper group sees 12% rise in exports by 4Q, maintains 2023 outlook near flat line
Thailand’s shippers group sees exports to make a sharp spike in the fourth quarter, boosted by agricultural products and automobiles, while maintaining an exports outlook between a 0.5% drop and a 1% increase this year as slowing global production has affected demand for exporters.
Chaichan Chareonsuk, Chairman of the Thai National Shippers’ Council said on Tuesday that the group expected to see exports to grow 0.6% from a year earlier in the third quarter and a significant growth of 12% in the fourth.
The chairman expected shipments of some agricultural products and automobiles to support exports growth in the remaining five months.
Meanwhile, the ban on rice exports by the Indian government should boost the selling price of Thai rice, according to Suparp Suwanpimolkul, vice chairman of the group.
