Market Roundup 4 October 2023

Thailand’s stock market closed at 1,451.25 points, increased 3.95 points or 0.27% with a trading value of 51 billion baht. The analyst stated that the Thai stock market was fluctuated with a sharp drop in the morning session in response to rising US bond yields and weakening Thai baht, coupled with the shooting incident at the Siam Paragon mall yesterday.

However, the analyst noted that there was a buy back, especially in the domestic plays that were anticipated to report better earnings such as banks, retails, ICT and hospitals.

The analyst expected the market to continue fluctuating tomorrow as investors would monitor private payroll and non-farm payroll data on Friday. Meanwhile, tourism confidence in Thailand must be monitored. The kingdom is expected to release its inflation data tomorrow.


Earlier today, the Bank of Thailand (BoT) Governor Sethaput Suthiwartnarueput told reporters on the sidelines of a business forum that he and the new Prime Minister Srettha Thavisin have some differences on economic measures.

The governor pointed out that the PM promised Thais to stimulate the struggling economy after the pandemic, while the governor himself was worried about inflation and the stability of the Thai exchange rates.

Still, he added that there is no conflict between him and the prime minister.


Following the shooting incident at Siam Paragon yesterday that led to two people being killed, KGI Securities stated that it would post a negative outlook to Thai tourism as it aims to recover from the pandemic with a free-visa scheme for Chinese tourists.

As for the listed companies, KGI expected The Erawan Group Pcl and Siam Wellness Group to have the most negative impact, while MInor International would see lowest impact due to its small revenue from hotel operation in Thailand.