Market Roundup 9 August 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,618.80 points, increased 9.93 points or 0.62% with a trading value of 57 billion baht. The analyst stated that the market eased concerns over Fed’s rate hike, while fund flows continued to support the market, especially in the banking sector and some specific energy stocks.

However, the analyst expected tomorrow’s upside should be limited as investors would be waiting for the U.S. inflation data, scheduled to be released tomorrow night BKK time.


2) Experts expect limited impact from increasing min. wage on tourism and healthcare sectors

In response to rising inflation in Thailand, the Ministry of Labour is reportedly considering an increase in the minimum wage of 5-8%, effective 1 January 2023. Maybank Securities (Thailand) (MST) has analyzed the impact of a proposed minimum wage hike on the tourism and healthcare sectors, finding that the healthcare players may be able to pass on the costs more effectively than their Thai tourism peers, due to the tighter supply in the healthcare sector, which may permit operators to increase prices more easily.


3) “Thai Oil” 2Q earnings soar 10 folds

“Thai Oil” 2Q earnings soared over 10 folds from an increase in sales revenue by Baht 65,772 million tracking higher product average selling prices, which was in line with the higher crude oil price. The company also recorded higher stock gain due to the results of rising crude price as well as gain from investment reclassification and disposal of its investment in GPSC of Baht 17,334 million.


4) Alibaba receives a nod for primary stock listing in Hong Kong

Alibaba got approval from the Hong Kong Stock Exchange on its filing application to convert locally traded shares to primary listing from the current secondary status. It is expected to take effect by the end of 2022