Thai stock market pared some losses in the afternoon session after the Prime Minister Sretta Thavisin gave further details on individuals that will be eligible to the THB10,000 digital handout.
The PM stated that after working with the Bank of Thailand, the stimulus measure has been concluded to cover about 50 million Thais with a total of 600,000 million baht of budget. There will also be an e-Refund scheme for tax reduction when purchasing goods not exceeding 50,000 baht, which would also be eligible to those not included in the digital wallet scheme.
Conditions for eligibility include;
1) Thai nationality at the age over 16 years old with less than 70,000 baht of income and less than 500,000 baht in bank deposit.
2) Handouts are only for commodity goods. Services payment, online shopping, cannabis, vouchers, gems and water-electricity bills are not eligible.
3) Handouts cannot be traded in the stock exchange and cryptocurrency platform.
After the announcement during the afternoon break, SET Index pared some losses coming out of the break, surging to a positive territory briefly and dipped to around 0.50% in negative territory again.
Retail stocks such as BJC rose 4.6% from dropping 1.85% in the morning session. CPALL also increased more than 2%, rising from earlier loss as well.
SET Index is currently trading at 1,397.98 points, decreased 6.99 points or 0.50% as of 15:20 BKK time on Friday.
