Thailand and China have signed the long-awaited visa waiver on Sunday that would allow the two countries to enter each nation without visa requirement.
Mr. Parnpree Bahiddha-Nukara, Deputy Prime Minister and Minister of Foreign Affairs, and Mr. Wang Yi, the Minister of Foreign Affairs of the People’s Republic of China, jointly signed an agreement between the government of Thailand and the People’s Republic of China regarding the visa waiver between two countries for travelers holding ordinary passports and public affairs passports on 28 January 2024. Meanwhile, the visa waiver will take effect on 1 March 2024.
Krungsri Capital Securities (KCS) analyzed that the signing of the Thai-Chinese visa waiver will benefit a number of stocks, including CPALL, CPAXT, ADVANC, ERW, MASTER, SAFE, GFC, SPA
AIRA Securities noted that the positive sentiment from the Thai-Chinese visa waiver will elevate the relationship between the two countries. The firm expected the recovery of Chinese travelers in Thailand, benefitting tourism stocks and aviation stocks, including AOT, AWC, ERW, SPA, and EKH.
DBS Vickers Securities (Thailand) stated that tourism stocks will directly benefit from the visa waiver. AOT, AAV, ADVANC, and ERW are among the list of the stocks that benefit from the measure.
DAOL Securities (Thailand) wrote in its note that the Thai-Chinese visa waiver may slightly increase the number of Chinese tourists. The firm expected hotel stocks, including CENTEL, MINT, and SHR, to benefit from the measure, sorting from the most to the least benefit respectively. Meanwhile, aviation stocks and other groups that benefit from the measure are AAV, AOT, and BAFS.
Additionally, Kingsford Securities gave a “BUY” recommendation to AOT, AAV, CPALL, MINT, CENTEL, ERW, and SPA.
