Market Roundup 8 January 2024

Thailand’s SET Index closed at 1,418.45 points, decreased 9.51 points or 0.67% with a trading value of 42.1 billion baht. The analyst stated that the Thai stock market declined in accordance with foreign markets, following the rise of bond yield. The concerns emerged upon the request of ITD to extend the maturity date of its debentures, causing concerns among the bond market in Thailand and financial institutions who are creditors. The analyst expected the market to trade sideways tomorrow.


Thai Prime Minister Srettha Thavisin said the central bank’s rates are not supporting the economy, citing that a rate hike despite inflation in a negative territory has not been good to the economy at all. Meanwhile, the Thai PM also urged the Bank of Thailand to avoid any moves that will adversely impact low-income households.

The central bank maintained its policy rate at 2.5% in the final meeting of 2023 in November after raising rates by 200 basis points since August a year prior to curb inflation.

The Bank of Thailand  will meet on February 7 to review the situation. However, analysts and economists were expecting to see no rate cuts in the first half of this year.

The Thai PM said that he hoped the central bank would help take care of the people by not raising interest rates in the opposite direction of inflation.


The Hang Seng Tech Index fell as much as 3.3% on Monday as the index is on course to the lowest close since November 2022, while the main index dropped 2% in the morning session.

The technology sector remains vulnerable in the Hong Kong stock market as capital out flow continues, while investors also remain cautious as they are waiting for the final regulation from Beijing on the gaming industry.

Late last year, Beijing released a draft with a wide range of regulations and restrictions aimed at curbing online spending and rewards in video games, such as log-in rewards or first-time-spending rewards.

After the release, a $80 billion rout in market value in a single day forced the authorities to reconsider their move on curbing the gaming industry.

Local media reported that regulators have heard the concerns and opinions raised by all related parties. They added that they will do more research and revise the draft. It was reported that the wording of sections in the draft regarding the rewards could be changed.