Thailand’s SET Index closed at 1,380.99 points, increased 2.26 points or 0.16% with a trading value of 34.7 billion baht. The analyst stated that the Thai stock market moved in a sideways trend as the main index made a sharp rise in the morning session, but slowed in the afternoon due to a de-risk before the long holiday.
The analyst expected to see some gain next week from inflow to TESG amid declining US bond yields. The analyst recommended investors to monitor the Fed and ECB meeting on policy rates that should benefit stock markets.
Thailand will raise the average daily minimum wage by 2.37%, according to a report from a senior government official on Friday in talks between government representatives, companies and labour groups.
The committee that was held to discuss wage raise agreed to hike the minimum wage to between THB330 and THB370 per day. Still, the wage is short of the ruling Pheu Thai party that pledged to raise it to THB400 a day. Pheu Thai’s political campaign prior to the election vowed to raise the minimum wage to THB600 a day by 2027.
The raise will take effect on January 1, 2024.
China announced on Friday that it will cut visa fees for travellers from five more countries including Thailand, Japan, Mexico, Vietnam, and the Philippines from December 11, 2023 to the end of December 2024.