Retail stocks edged higher in the afternoon session after the Thai Prime Minister kicked off his THB10,000 digital handout project to boost domestic spending, which is expected to top the economic growth by 1.2%-1.6%.
The policy aims to cover 50 million eligible citizens with the total funds amounting to 500 billion baht. The handout will only be applicable to small grocery stores in Thailand, while none of the big retail stores such as Big C, 7-Eleven (not confirm) or Makro is eligible.
However, bigger retail stocks such as BJC, CPALL, CRC, DOHOME, HMPRO, GLOBAL, CPAXT, COM7 will indirectly benefit from such measure as at the current stage there is no indication that owners of small shops could not spend on bigger retail stores after cashing out their digital wallet.
In the afternoon trading session on April 10, 2024, the share price of Berli Jucker Public Company Limited (SET: BJC) rose by 0.99% or THB 0.25 to THB 25.50, with a trading value of THB 138.46 million.
The share price of Central Retail Corporation Public Company Limited (SET: CRC) increased by 1.36% or THB 0.50 to THB 37.25, with a trading value of THB 143.03 million.
The share price of Dohome Public Company Limited (SET: DOHOME) surged by 1.80% or THB 0.20 to THB 11.30, with a trading value of THB 33.29 million.
The share price of Home Product Center Public Company Limited (SET: HMPRO) grew by 2.80% or THB 0.30 to THB 11.00, with a trading value of THB 170.86 million.
The share price of Com7 Public Company Limited (SET: COM7) soared by 1.57% or THB 0.30 to THB 19.40, with a trading value of THB 160.03 million.
Meanwhile, the share price of CP ALL Public Company Limited (SET: CPALL) remained unchanged at THB 56.25, with a trading value of THB 1,044.48 million.
The share price of Siam Global House Public Company Limited (SET: GLOBAL) slid by 0.59% or THB 0.10 to THB 16.80, with a trading value of THB 82.51 million.
The share price of CP Axtra Public Company Limited (SET: CPAXT) dropped by 1.54% or THB 0.50 to THB 32.00, with a trading value of THB 93.48 million.
The measure is expected to officially launch in the fourth quarter of this year.
