1) Thai stock market overview
Thailand’s SET Index closed at 1,568.81 points, increased 5.84 points or 0.37% with a trading value of 55 billion baht. The analyst stated that the Thai stock market edged higher in the same direction as global markets as investors in the Thai market anticipated a boosting measure in the tourism sector from Thailand’s new PM, which reflected on tourism stocks in today’s session. In the meantime, investors were also monitoring an official appointment of the Thai cabinet and more stimulus packages.
2) UBS to announce its 2Q23 earnings after merging with Credit Suisse
UBS Group will announce its first earnings after the takeover of the rival Credit Suisse from being blown over due to its debt and internal issues earlier this year. The UBS Q2 numbers have been delayed by over a month due to complexity of the merging.
UBS is expected to report $33.45 billion in net profit for Q2, according to analysts, but warn that this is a time-off boost in the bottom line and complexity in the merger could distort the main picture.
3) ‘Big C Retail’ postpones IPO over fluctuation in capital market
Mr. Asawin Techajareonvikul Chief Executive Officer and President of Big C Retail Corporation Public Company Limited (BRC), a subsidiary of Berli Jucker Public Company Limited (SET: BJC) group, announced that the company will postpone the implementation of the issuance, the initial public offering (IPO) and the listing of BRC’s common stock as listed securities on the Stock Exchange of Thailand due to fluctuation in the global and Thai capital market.
