Market Roundup 11 January 2024

Thailand’s SET Index closed at 1,408.24 points, decreased 5.28 points or 0.37% with a trading value of 35.5 billion baht. The analyst stated that the Thai stock market underperformed Asia markets. There were selloff in stocks from many sectors, especially those that could post poor results in 4Q23, such as stocks in JMART Group and retail stocks, such as COM7, GLOBAL, and SINGER. Meanwhile, the bank stocks also declined. Investors were concerned about the decreasing reserve limit of second-hand automobiles, while the extension of ITD’s maturity date for its debentures continued to pressure the market. 

The analyst expected the market to drop in the short-term, while advising investors to monitor the US Fed interest rate and business performance of the listed companies.


The U.S. Securities and Exchange Commission (SEC) on Wednesday approved the first U.S.-listed bitcoin exchange traded funds (ETFs), a long-awaited move that will give regular investors access to indirectly invest in the cryptocurrency.

Most of the ETFs are expected to begin trading on Thursday.

Earlier, Standard Chartered expected spot bitcoin ETFs to attract inflows of $50-100 billion in 2024, if they are approved. As a result of the approval, the price of bitcoin could rise to $200,000 by the end of 2025.


Thai consumer confidence rose in December to the highest level in 46 months with a boost by government measures and tourism.

Consumers’ confidence bounced back following the establishment of the government, with  supporting measures to ease cost of living, including a reduction of electricity charges and oil prices, as well as a number of economic stimulus measures. Consumers also recognized the country’s rise of stability in the near future after the said establishment drove away conflicts among people with different political ideologies.

Meanwhile, consumers are still concerned about the slowed global economy, the prolonged war in the Middle East, and the rise of policy interest rates to resolve problems regarding inflation around the world, as it could pressure the global economy to face recession. The said circumstance will result in negative effects on the export of Thailand and the purchasing power of consumers across the country.