Market Roundup 20 November 2023

Thailand’s SET Index closed at 1,419.44 points, increased 3.66 points or 0.26% with a trading value of 37.4 billion baht. The analyst stated that the Thai stock market edged lower in the morning from the disappointment in 3Q23 GDP, but spiked in the afternoon following strong Thai baht. The market also received positive sentiment from Thai regulators including SET and SEC taking a step to build confidence in the market.

The analyst recommended investors to follow up further information on Thailand ESG Fund that should help create sentiment for investors in the final two months.


The Bank of Thailand (BOT) has published a quarterly briefing of the Thai banking system for the period from July to September, stating that the overall outlook remains resilient while also recording improving profitability when compared to the previous year.


Thailand’s gross domestic product (GDP) expanded 1.5% in the third quarter from a year earlier, according to the released official data on Monday.

Even though it showed some recovery with a 0.8% growth compared to 0.2% in the previous quarter for Southeast Asia’s second-largest economy, it still fell short of expectations of economists in a Reuters poll that forecast the GDP to grow 2.4% from last year and 1.2% from the previous quarter.

The Office of the National Economic and Social Development Council sees Thai 2023 GDP growth projection at 2.5%, adjusted from a 2.50-3.0% range seen in August. Meanwhile, growth for 2024 is expected at 2.7%-3.7%.

Amid slowing down in global demand, the planning agency expected Thai exports to contract 2.0% this year, compared to 1.7-2.2% seen in August. Shipment is expected to recover in 2024 to 3.8%.

Thailand has been managing inflation quite well as the current level at 0.3% was well below the Bank of Thailand’s target range for 2%. Average inflation this year is expected at 1.4% and 1.7-2.2% in 2024.