Market Roundup 13 June 2023

1) Thai stock market overview

Thailand’s SET Index closed at 1,562.40 points, increased 10.99 points or 0.71% with a trading value of 41 billion baht. The analyst stated that the Thai stock market moved in the same direction as global markets, boosted by investors’ speculation for the Fed to hold interest rates and might signal an easy monetary policy. The market also expected U.S. inflation to decline as well.

The Thai market was also boosted by an increase in tech stocks, especially DELTA. The analyst expected the market to continue edging higher but with a limited upside.


2) Toyota Motor announces plans for new battery tech for EVs

Toyota Motor announced plans to upgrade the range, performance, and cost effectiveness of its electric vehicles through the use of high-performance, solid-state batteries and other technologies.

The Japanese automaker will begin launching next-generation batteries from 2026 in an effort to win over customers with cars that have greater ranges and charge more quickly, according to a Reuters report on Tuesday.

It also stated that it was working on a technology to commercially create solid-state batteries at scale by 2027–2028.

President of BEV Factory Takero Kato, gave a presentation on Tuesday in which he revealed that Toyota’s goal for its electric vehicles is 1,000 kilometers (620 miles) of driving range. Kato also said that the BEV Factory aims to manufacture approximately 1.7 million vehicles by 2030.

With an eye toward the future, Toyota plans to sell 1.5 million all-electric vehicles annually by 2026 and 3.5 million by 2030.


3) Tourist arrivals in Thailand top 2022 record in June with 11.4 million

Thailand saw 11.4 million foreign tourist arrivals from January to June 11, 2023, with spending of 472 billion baht, the tourism ministry said in a statement on Tuesday.

The tourist numbers have surpassed the 11.15 million in the whole of 2022. Meanwhile, spending has yet to reach the level of 589 billion baht recorded last year.

The Tourism Authority of Thailand expects to see 30 million arrivals this year as China has reopened the border. Still, the figure is well below the pre-Covid level of nearly 40 million.