Thailand’s SET Index closed at 1,433.38 points, increased 17.53 points or 1.24% with a trading value of 43.2 billion baht. The analyst stated that the Thai stock market outperformed, following a stimulus package to boost tourism, including the waiver of visa requirements for Thai and Chinese travellers, resulting in a positive sentiment in related sectors, especially AOT that rose 4%.
The analyst expected the Thai stock market to move in a sideways trend tomorrow, while recommending investors to monitor US ISM Index and the parliament discussing 2024 budget.
Thailand and China will permanently waive visa entry requirements for their citizens from March 2024, according to the statement from the Thai Prime Minister Srettha Thavisin on Tuesday. The Thai PM said that this will improve the relationship between Thailand and China.
Meanwhile, the Minister of Tourism and Sports announced that the total number of tourists that travelled to Thailand since 1 January – 31 December 2023 were 28,042,131 travellers, increasing by 151% YoY, with an accumulated revenue from travellers spending of THB 1.2 trillion.
The aforementioned number of tourists exceeded the 27 million travellers estimation that Miss Thapanee Kiatphaibool, Governor for Tourism Authority of Thailand, estimated in early December 2023, which was a downward adjustment from 30 million arrivals expected at the beginning of 2023.
The Fiscal Policy Office (FPO) expected Thailand to record 34.5 million of tourist arrivals in 2024.
South Korea’s opposition Democratic Party leader Lee Jae-myung was rushed to the hospital after being stabbed in the neck during a visit to the southern port city of Busan early Tuesday, according to the report by the Yonhap news agency.
