Thailand’s SET Index closed at 1,368.15 points, decreased 7.94 points or 0.58% with a trading value of 48.2 billion baht. The analyst stated that the Thai stock market took a dip following the selloff of big-cap stocks. The Thai baht weakened and caused foreign investors to sell stocks in the index before the announcement of the US inflation data tonight. Meanwhile, there were no new factors that could help boost the Thai stock market.
The analyst expected the market to trade sideways next week.
Thailand’s customs-based exports rose 4.7% in December, its fifth straight month of gain after a 4.9% rise in November, according to the data revealed by the commerce ministry on Friday.
Despite the gain, exports for the final month of 2023 fell short of expectations polled by Reuters for a 6.0% expansion.
Meanwhile, customs-cleared imports contracted by 3.1% in December, compared to a 7.2% rise in Reuters poll.
The trade balance was a 970 million surplus, beating a deficit of 1.37 billion in a Reuters poll.
Exports in 2023 contracted by 1%, according to the commerce ministry, while expecting outbound shipment in 2024 to increase 1.99%.
Wang Yi, the Minister of Foreign Affairs of the People’s Republic of China, is set to meet Srettha Thavisin, Thailand’s Prime Minister, today to jointly sign the Thai-Chinese visa waiver, which will take effect on 1 March 2024.
The Minister of Foreign Affairs of the PRC will officially visit Thailand from 26 to 29 January 2024 to arrange the meeting with the Thai PM at the government house and jointly sign the Thai-Chinese visa waiver, together with Mr. Parnpree Bahiddha-Nukara, Deputy Prime Minister and Minister of Foreign Affairs.
Analysts gave a “BUY” recommendation to stocks relating to aviation and hotel, but the most prominent one to look at is AOT.
