Thai Finance Minister Addresses Investor Concerns Over Stock Market Decline

Finance Minister Pichai Chunhavajira has addressed investor apprehensions regarding the recent slump of the Thai stock market to its lowest point in four years, which pointed out that the lack of government stimulus measures may have contributed to this decline.

The minister assured that the Finance Ministry has plans in place to provide support, which are currently being fast-tracked. The downward trajectory of the Thai market was in line with global circumstances, especially uncertainties in the European election, as investors bear no confidence. Nevertheless, Pichai expressed confidence that investor sentiment would improve once the global situation became more stable.

Krungsri Securities (KSS) highlighted ongoing political risks in Thailand that could persist until June 2024. However, the firm stated that the Thai market has priced in these negative sentiments for a certain level.

KSS projected that the index would fluctuate between 1,350 and 1,300 points, indicating favorable investment opportunities. The analyst recommended stocks such as MINT, GFPT, HANA, ICHI, OSP, BJC, and MTC.