Thailand’s SET Index closed at 1,436.60 points, increased 1.07 points or 0.07% with a trading value of 54.39 billion baht. The analyst stated that the Thai stock market exhibited narrow trading, aligning with trends in other Asian markets, as investors approached their investments cautiously before the US Federal Reserve’s meeting. The market also lacked significant domestic catalysts during this period.
The analyst expected the market to trade sideways tomorrow.
The Thai cabinet granted approval on Tuesday for the implementation of the THB 10,000 ‘Handout’ program targeting 14.5 million vulnerable citizens, with a designated budget of THB 145.55 billion. The initiative is slated to launch on September 25, 2024.
The distribution of the THB 10,000 subsidy will be overseen by the Comptroller General’s Department (CGD). Prime Minister Paetongtarn Shinawatra confirmed that the initiative received approval from the Office of the Council of State (OCS), the Office of the National Economic and Social Development Council (NESDC), and the Bank of Thailand (BOT).
Thailand’s government is reportedly endorsing Kittiratt Na-Ranong, an outspoken critic of the central bank’s restrictive monetary policy and a supporter of the ruling party, as the new chairman of the Bank of Thailand.
The Ministry of Finance has recommended Kittiratt for the position of BOT chairman to a selection panel responsible for choosing a successor to Porametee Vimolsiri, who is concluding his term at the end of this month.
