Market Roundup 2 August 2024

Thailand’s SET Index fell by 0.73%, reflecting global market trends and PMI data from China and the US. BTS Group announced restructuring, including a rights offering and acquisitions.

SET Index Decline Amid Global Market Impact

Thailand’s SET Index closed at 1,313.08 points, falling by 9.67 points or 0.73% with a trading value of 34.65 billion baht.

1. SET: This is the main index for the Thai stock market. The index value closed at 1,313.08, which is down by 9.67 points or a 0.73% decrease from the previous day’s close.
2. Value(M): It indicates the total market value traded on that day in millions, which is 34,702.66 million Thai Baht.
3. SET50: This index tracks the performance of the top 50 large-cap companies listed on the SET. It closed at 827.63, down by 5.19 points or 0.62%.
4. SET50FF: SET50 Free Float Index index, a free float-adjusted index. It closed at 807.95, a decrease of 5.26 points or 0.65%.
5. SET100: This index monitors the top 100 companies on the SET by market capitalization. It closed at 1,801.53, down by 13.53 points or 0.75%.
6. mai: This refer to the Market for Alternative Investment, which is a sub-market of the SET for smaller or emerging companies. It closed at 322.56, down by 5.47 points or a 1.67% decrease.

An analyst cited underwhelming PMI figures from China and the US as factors for the decline, aligning with global market trends. Despite this, data raised hopes for a potential Federal Reserve rate cut, prompting profit-taking. Concurrently, the Japanese market saw a downturn due to the Bank of Japan’s interest rate hike.

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BTS Group’s Strategic Moves and MINT’s European Prospects

BTS Group announced restructuring initiatives, including a rights offering to raise 13.17 billion baht, leading to an 18.2% dilution for current shareholders. Additionally, BTS plans to acquire ROCTEC TB and RABBIT TB through tender offers. Meanwhile, Minor International Public Company Limited (SET: MINT) remains optimistic about its European business, with robust third-quarter bookings and double-digit revenue growth. MINT’s performance across Europe, despite concerns around the Paris Olympics, indicates sustained strong momentum for the rest of 2024.