Thailand Stocks Rally on Investment Boost, Rising Consumer Mood

Thailand’s SET50 Index climbed 13 points, or 1.2%, to 1,053 on Thursday afternoon, snapping a three-day losing streak as stronger U.S. futures lifted sentiment after Wall Street’s mixed close and Fed minutes underscored caution. Locally, momentum was buoyed by the Board of Investment’s approval of nine projects worth nearly USD 2 billion spanning AI, advanced electronics, aviation, clean energy, and food to support long-term competitiveness. June consumer sentiment hit a three-month high, reversing a four-month slide, aided by easing Middle East tensions and Bangkok’s sweeping subsidy plan to curb costs. Producer manufacturing and electronic tech led gains, followed by utilities, industrial services, and retail. Still, warnings from Bank of Thailand board members highlighted risks that prolonged easing could erode fiscal and monetary space and weigh on credit ratings. Standouts included Asset World Corp. (3.2%), Bangkok Bank (2.4%), and Cal-Comp Electronics (3.6%).

Thailand’s SET50 Index was little changed around midday on Monday, hovering near 1,059 after two sessions of gains. Traders digested fresh data showing June inflation easing to 2.42%, a three-month low that kept price growth within the central bank’s target, after a year of deflation. Markets held at their highest level since January 2020, as business sentiment strengthened in June, aided by moderating Middle East tensions, softer energy costs, and ongoing government support. In the U.S., equity futures were mixed following a strong week on Wall Street, with traders bracing for minutes from the Fed’s June meeting due later this week. Strength in commercial services, non-energy minerals, and industrial services was offset by weakness in communications, consumer services, and transport. Notable gainers included Banpu (0.9%), Bangchak Corp. (0.7%), and Charoen Pokphand (3.4%). In contrast, Advanced Info (-0.3%), Bangkok Bank (-1.8%), and Bangkok Dusit Medical Services (-2.0%) declined.

SET 50 increased to 1042.00 Index Points, the highest since January 2020. Over the past 4 weeks, Thailand SET 50 Index gained 1.51%, and in the last 12 months, it increased 43.87%.