On Wednesday at 3:36 PM (Bangkok time), the share price of Airports of Thailand Public Company Limited (SET: AOT) surged by 2.56% or THB 1.00 to THB 40.00, with a trading value of THB 524.91 million.
Asia Aviation Public Company Limited (SET: AAV) rose by 2.40% or THB 0.03 to THB 1.28, with a trading value of THB 23.48 million.
Bangkok Airways Public Company Limited (SET: BA) increased by 2.31% or THB 0.30 to THB 13.30, with a trading value of THB 46.11 million.
Thai Airways International Public Company Limited (SET: THAI) grew by 1.49% or THB 0.20 to THB 13.60, with a trading value of THB 294.60 million.
Central Plaza Hotel Public Company Limited (SET: CENTEL) expanded by 1.57% or THB 0.50 to THB 32.25, with a trading value of THB 54.51 million.
Dusit Thani Public Company Limited (SET: DUSIT) gained 0.74% or THB 0.10 to THB 13.70, with a trading value of THB 54.76 million.
Krungsri Securities (KSS) notes that, while the number of tourist arrivals in the latest week (September 16–22) remained negative—down 12.1% from the previous week and still lower year-on-year—the pace of decline has narrowed compared to the previous period. This recent weakness was mainly attributed to volatile arrivals from Malaysia.
More positively, Krungsri highlights an emerging uptrend in Chinese arrivals to Thailand as the Golden Week holiday (October 1–8) approaches. As of the week ending September 22, the number of flights from China to Thailand climbed 9% week-on-week (previously +3% WoW). Macau flights also increased by 9% (up from +2% WoW), with Japan and Hong Kong flights rising 6% and 5% week-on-week, respectively.
The analyst believes this positive momentum could lead to monthly improvements in inbound tourism from October through early next year, with the potential for year-on-year growth to resume. This could provide a catalyst for tourism and aviation stocks that remain at deep value, particularly highlighting AOT, ERW, CENTEL, and CPALL.
