# Thailand Business Market Monitor Recap March 2024

- Link: https://www.thailand-business-news.com/markets/133959-thailand-business-market-monitor-recap-march-2024
- Published: 2024-03-31T00:51:16+07:00
- Author: Stephanie Chu

Asia’s stock markets rose following gains on Wall Street, with benchmarks in Japan,
South Korea, and mainland China edging higher.

The US economy grew faster than previously estimated in Q4 2023, and Bank of England
policy maker Catherine Mann commented on interest rate cuts.

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China-based BYD missed its 2023 earnings estimate, leading German economic forecasters
slashed their predictions for 2024 economic growth, and Apple’s iPhone shipments
in China fell year-on-year.

 * **Asia’s Stock Markets**: Shares in Asia rose following gains on Wall Street,
   with benchmarks in Japan, South Korea, and mainland China edging higher.
 * **Currency and Economic News**:
    - The US dollar firmed after hawkish comments from a Federal Reserve official.
    - The US economy grew faster than previously estimated in Q4 2023.
    - The yen fell to a 34-year low against the dollar, prompting an emergency meeting
      in Japan.
    - Chinese industrial profits rose in the first two months of 2024.
 * **Business and Investment Updates**:
    - Nissan Motor of Japan will invest in the EV unit of alliance partner Renault.
    - China-based BYD missed its 2023 earnings estimate.
    - China filed a complaint against the US at the World Trade Organization over
      discriminatory practices against Chinese EV.
    - China’s top airlines reported losses for a fourth consecutive year.
    - Leading German economic forecasters slashed their predictions for 2024 economic
      growth.
    - Apple’s iPhone shipments in China fell year-on-year.
    - InnovestX Securities expects the Thai stock market to recover in Q2.
    - UOB Asset Management recommends reducing cash and short-term government debt
      holdings.
    - Afternoon trading hours were expanded on the Stock Exchange of Thailand.
    - The Ministry of Finance is considering property industry requests to reduce
      registration and mortgage fees.
    - The Board of Investment improved promotional measures for electronic circuit
      board supply chain investment.
    - The PwC CEO Confidence Survey in Thailand highlighted concerns about traditional
      business models.
    - The Energy Regulatory Commission approved an adjustment in the fuel tariff
      rate.
    - PTT is considering building a green methanol production facility.
    - The government’s 10,000-baht digital wallet programme faces another delay.
    - The Senate approved the 2024 budget bill.
    - Thailand’s exports rose for the seventh straight month in February.
    - Car production in Thailand fell amid tougher lending rules and a rise in imported
      electric vehicles.
    - Thailand’s manufacturing production index declined for the 17th straight month.
    - Rice exports increased in February.
    - SF Express became the majority shareholder of Kerry Express (Thailand) Plc.
    - Central Department Store is investing in a major renovation for Central Chidlom.
 * **Upcoming Events and Technical Views**:
    - S&P Global’s updated US manufacturing PMI, German consumer inflation, and 
      US factory orders.
    - Euro zone inflation update, OPEC’s oil output review, and US services and 
      non-manufacturing PMI.
    - Thai Bond Market Association’s bond activity update and Bank of Thailand’s
      Monetary Policy Committee meeting.