Thailand’s SET Index closed at 1,413.45 points, increased 4.62 points or 0.33% with a trading value of 33.9 billion baht. The analyst stated that the Thai stock market traded with low volume. The index moved sideways by no more than 5 points as the long holiday is approaching. Small-cap stocks were able to move due to their unique catalysts, while laggarded big-cap stocks were able to recover as well as stocks related to saving funds. The analyst expected tomorrow’s session to remain quiet, while there could be speculation on specific stocks.
Mr. Chai Wacharoke, a Thai government spokesperson stated on Monday that Major Japanese auto manufacturers, such as Toyota, Honda, Isuzu and Mitsubishi, will invest THB 150 billion in Thailand for the next five years.
The investment by Japan will support the government’s policy of transitioning from combustion engine vehicles to EVs, and the government also aimed to switch a third of its yearly production of vehicles into EVs by 2030.
BYD and Great Wall Motor, Chinese carmakers, had already invested in Thailand as the country launched tax cuts and subsidies for EV manufacturers.
The aim escalated further as the Prime Minister Srettha Thavisin was in talks with the US EV maker, Tesla, for a potential investment in Thailand.
The Tourism Authority of Thailand (TAT) estimated tourists of over 1.18 million to visit Thailand and 3.76 million Thais to travel across the country, which could generate revenue of more than THB 54.4 billion, representing an increase by 45%.
Miss Thapanee Kiatphaibool, Governor for Tourism Authority of Thailand, stated that during the New Year Festival 2024, the TAT expected the travel traffic of both domestic and international to be positively busier compared to last year.
Mr. Kirati Kitmanawat, Chief Director of Airports of Thailand Public Company Limited (SET: AOT), stated earlier that during the New Year 2024 festival traffic through six AOT’s airports will be around 2.65 million or 379,830 passengers per day, increasing by 35.5% compared to last year. Meanwhile, operating flights will increase 27.4% to 15,152 or 2,165 flights per day.