Market Roundup 11 April 2023

1) Thai stock market overview

Thailand’s SET Index closed at 1,597.10 points, increased 3.97 points or 0.25% with a trading value of 36 billion baht. The analyst stated that the Thai stock market moved narrowly with low trading volume as the long holiday is right around the corner. Moreover, investors were waiting to see the U.S. inflation data that is scheduled to be released tomorrow.

An increase in the SET Index was primarily supported by the consumer confidence data for March that continued to rise for the 10th straight month and China’s CPI data that came out lower than expected. Speculation in the banking sector prior to the earning season helped push the SET Index toward its resistance level of 1,600 points. The analyst expected the Thai stock market to move within the range of 1,600-1,590 tomorrow.


2) Thai consumer mood rises for 10th straight month in March amid recovery in tourism

Thai consumer confidence in March rose for the 10th consecutive month, reaching a three-year high, according to the data released by the University of the Thai Chamber of Commerce, citing its survey.

Confidence continued to grow with a boost by a recovery in tourism and spending for the upcoming election, a survey showed on Tuesday.

The consumer index of the University of the Thai Chamber of Commerce rose to 53.8 in March from 52.6 in February.


3) China’s March inflation rises by 0.7%, lowest since Sept 2021

Consumer inflation in China fell to its lowest level since September 2021 in March, official data showed on Tuesday, mainly due to lowering food costs, indicating that demand weakness persists amidst an uneven economic recovery.

According to the National Bureau of Statistics, the consumer price index (CPI) increased by 0.7% on an annual basis in March, down from the 1.0% increase reported in February.

On a monthly basis, the CPI fell 0.3% in March.

The government has targeted a 3% increase in average consumer prices in 2023. In 2022, annual price increases averaged 2%.

Compared to the 1.4% dip in February, the PPI fell by 2.5% year-over-year in March. It was in accordance with a Reuters survey.

The PPI was unchanged from the previous month, maintaining the same pace as in the prior period.