1) Thai stock market overview
Thailand’s SET Index closed at 1,494.02 points, decreased 13.34 points or 0.88% with a trading value of 55 billion baht. The analyst stated that the Thai stock market had a wild session as exports data recovered to positive territory, while facing a selloff in the afternoon and plunged below the flat line. Thai baht continued to depreciate, resulting in outflows. The movement was in the same direction of regional markets that edged lower.
2) Thailand’s trade data beats expectations as exports grow 2.6% in August
Thailand’s customs-based exports unexpectedly rose 2.6% in August from a year earlier, according to the data announced by the commerce ministry on Tuesday, amid weak global demand.
Exports growth in August beat expectations for a 4% decline by Reuters poll and followed July’s 6.2% decline.
Meanwhile, imports shrank 12.8% in August, compared to a 10.0% decline in Reuters poll.
Trade balance for August showed a surplus of $360 million, beating the market expectations for a $1,761 million deficit and $1,978 million deficit in July.
3) Thai cabinet approves measures to suspend farmers’ debt payments
The Thai cabinet approved the measure to suspend farmers’ debt in accordance with Phase 1 of government policy. This includes the rehabilitation of BAAC debtors who participated in the said debt moratorium, which is a part of the farmers’ debt payments suspension measure for a period of 3 years
