Market Roundup 19 August 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,625.92 points, decreased 10.15 points or 0.62% with a trading value of 70 billion baht. The analyst stated that the Thai stock market moved in negative territory, which was in the same direction as global markets, as investors took profit after the Thai stock market made a series of gains in recent days.

The analyst recommended investors to monitor the Fed’s meeting at Jackson Hole next week, expecting the SET Index to move in a limited range with a support level at 1,610-1,620 points and a resistance level at 1,630-1,640 points.


2) China proposes Thailand to increase international flights

The Civil Aviation Authority of Thailand (CAAT) stated that an email from the Civil Aviation Administration of China received on August 17, 2022, inquiring if Thailand would want to further increase the number of flights from China to Thailand to 15 from 3 currently, and the same implication would also apply the other way around for flights from Thailand to China.

Currently, China prohibits flights to Beijing, Shanghai and Guangzhou due to its capacity limitation, but if the travelling plan proposed by CAAT meets CAAC’s capability, flights between these destinations are possible.


3) Thailand records 3.8 million foreign arrivals from Jan to Mid-Aug

Thailand recorded 3.8 million foreign arrivals from January to August 17, up over 3,000% compared to the same period last year, a government official said on Friday.

Taweesin Visanuyothin, a spokesperson for the spokesperson of the Center for COVID-19 Situation Administration (CCSA), said that the arrivals, mainly from Malaysia, India, Singapore, UK and Vietnam, generated about THB176 billion (USD4.9 billion) in revenue.

The Finance Ministry expects 8-10 million tourists this year, up from the previous prediction of 7 million.


4) Thailand to end emergency decree from October ahead of APEC summit

Disease control laws are set to take effect in Thailand this October, as the country is reportedly considering lifting its nationawide state of emergency ahead of the APEC summit in November.

The Center for COVID-19 Situation Administration advisor Dr. Udom Kachintorn said prior to today’s CCSA meeting that the Prime Minister Prayut Chan-o-Cha has agreed in principle to lift the state of emergency this October and the Communicable Diseases Act will be used to manage the pandemic once the emergency decree expires.

The meeting is expected to declare Covid-19 as a communicable disease under surveillance beginning October 1.