SET falls as Thai government’s new policies fail to convince investors

[webfact]

The Stock Exchange of Thailand (SET) experienced a slight decline yesterday as the newly elected government‘s policy statement failed to impress investors.

 

Analysts have raised concerns about the lack of specific timelines and the feasibility of implementing these policies.

 

The Srettha Thavisin administration’s key policies include a 10,000 baht digital wallet to stimulate domestic demand, energy price reductions, tourism promotion, and debt relief for struggling farmers and small businesses.

 

The digital wallet initiative, scheduled for launch in the first quarter of 2024, aims to increase economic growth to potentially 5% in 2024, up from this year’s projected 2.8%.

 

However, the stock market’s response to the policy announcement was largely neutral, indicating that analysts remain sceptical. “The policy statement still lacks clarity in terms of budget allocation and the timeframe of implementation,” noted ASL Securities in a recent research note.

 

by Alex Morgan 

TOP: Thailand's Prime Minister Srettha Thavisin reads the policy statement at parliament in Bangkok, Thailand, Monday, Sept. 11, 2023. (AP Photo/Sakchai Lalit)

 

Full story: https://thethaiger.com/news/business/set-falls-as-thai-governments-new-policies-fail-to-convince-investors

 

-- The Thaiger 2023-09-12

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

[whiteman]

why am I not surprised?

[retarius]

Looks like this is near the peak for the Thai market for the foreseeable future. If growth comes in at 2% this year, they might struggle to reach 3% next year. I would love to see the forecast assumptions, because much of the wallet spend will not be incremental ie it will be used to buy things that the people would have bought anyway.

[sammieuk1]

The Baht has crashed and lost a satang ????

[stoner]

the information age allows people to see the reality. 

[Tropicalevo]

1 hour ago, retarius said:

because much of the wallet spend will not be incremental ie it will be used to buy things that the people would have bought anyway.

Or - "give me your 10,000 baht and I will give you 8,000 baht cash for your gambling addiction."

[mikebell]

1 hour ago, webfact said:

the newly elected government‘s policy statement failed to impress

anyone except those with snouts in the trough.

[ikke1959]

Nothing changed... same parties ruling only new puppets on the ministerial posts, although the people voted for change...

[george]

And SET is up again…

[billd766]

5 hours ago, sammieuk1 said:

The Baht has crashed and lost a satang ????

A whole satang in the same day. ????