Thai stock market and baht surged on Sept 5, 2024, post new government formation. SET index closed at 1,404.28, up 38.79 points, driven by positive investor sentiment and policy continuity.
Thai Stock Market and Baht Surge Following New Government Formation
The Thai stock market and baht saw significant gains on September 5, 2024, as investor optimism soared after the new government was formed. This positive sentiment is fueled by expectations of policy continuity, especially concerning economic stimulus measures.
Key Market Highlights
The SET index ended at 1,404.28, showing a positive change of +38.79 points with a total trading value of 81,736.15 million Baht. Both the SET50 and SET100 indices also experienced positive shifts, indicating significant trading volumes. Institutional and individual investors dominated the trading value, while foreign investors showed a net selling position.
Strong Performance and Positive Outlook
The benchmark Stock Exchange of Thailand Index surged by 3%, hitting its highest point since March 2023. Industries like packaging, information technology, and petrochemicals led the gains. The baht strengthened by 1.5% against the US dollar, making Thai stocks more appealing to dollar-based investors. The formation of the new government and planned economic initiatives have boosted investor confidence in Thai assets.
Source : Market Roundup September 5: SET index closed at 1,404.28 up 3%