Market Roundup 10 October 2023

Thailand’s SET Index closed at 1,434.45 points, increased 2.73 points or 0.19% with a trading value of 40.8 billion baht. The analyst stated that the Thai stock market closed slightly higher, but lower than the market expected. An increase over 5% in DELTA buoyed the market today, without it SET Index could close in a negative territory.

Meanwhile, the market is expecting 3Q23 performance of the listed companies to be weaker due to it being a low season.

The analyst expected the SET Index to move in a sideways direction tomorrow, while recommending investors to monitor US PPI data, Fed’s speech and the conflict in the Middle East.


The share price of JMART Group and its subsidiaries fell sharply on Monday due to concerns over debentures obligation and forced sale. Jmart Group Holding PLC’s CEO, Mr.Adisak Sukumvitaya, said the company already paid the total worth of 1 billion baht of its debentures last month. JMART as of now won’t have any near-term debentures to pay at least for a year. This should help JMART to rebound in 2H23 and 2024 as the 2Q23 was the lowest point.

The CEO pointed out that the JMART subsidiaries and its new retail networks are the positive factors that will facilitate the turnaround. JMT Network Services PLC (SET: JMT) and JAS Assets (SET: J) are involved in the new branches expansion strategy during the year-end high season for retails.


Meanwhile, Bloomberg reported that China is considering a 1 trillion yuan ($137 billion) stimulus to boost its growth and meet economic targets. China would raise its 2023 budget deficit by issuing additional sovereign debt, which would be used to fund infrastructure projects, particularly in the water conservancy sector to improve agricultural productivity.

Earlier today, Country Garden Holdings said that it may not be able to make all of its offshore repayments, including those issued in U.S. dollar notes. This came after the company failed to make a debt repayment of 470 million Hong Kong dollars as of Tuesday.