Market Roundup 17 September 2024

Thailand’s SET Index closed at 1,436.60, up 0.07%. The Thai cabinet approved a THB 10,000 handout program for 14.5 million citizens. Kittiratt Na-Ranong is endorsed as the new BOT chairman.

Thailand’s Stock Market Update

Thailand’s SET Index closed at 1,436.60 points, a slight increase of 1.07 points or 0.07%, with a trading value of 54.39 billion baht. Analysts noted narrow trading in line with other Asian markets as investors remained cautious ahead of the US Federal Reserve’s meeting. The market also lacked significant domestic catalysts during this period. It is expected that the market will continue to trade sideways tomorrow.

Government Initiatives and Appointments

The Thai cabinet approved a THB 10,000 ‘Handout’ program for 14.5 million vulnerable citizens, with a budget of THB 145.55 billion, starting on September 25, 2024. The subsidy will be managed by the Comptroller General’s Department. Additionally, the government is endorsing Kittiratt Na-Ranong as the new chairman of the Bank of Thailand, succeeding Porametee Vimolsiri. The Ministry of Finance has recommended Kittiratt to a selection panel for the position.