# Market Roundup 8 August 2024

- Link: https://www.thailand-business-news.com/markets/155761-market-roundup-8-august-2024
- Published: 2024-08-09T10:47:06+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index increased by 0.44% to 1,296.25 points, buoyed by diminishing
fears of a US recession and the BOJ’s decision to pause its rate hike. Meanwhile,
the BOI sanctioned incentives for automotive joint venture projects.**

## SET Index Rises Amid Market Volatility

Thailand’s SET Index increased by 5.70 points, closing at 1,296.25, with trading
valued at 36.24 billion baht. Analysts noted the Thai stock market showed volatility
but remained positive as fears of a US economic downturn eased after Federal Reserve
officials indicated sluggish jobs data was not a recession signal.

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The Bank of Japan’s decision to halt rate hikes also reduced volatility tied to 
the Japan Carry Trade, although gains in the Thai market were limited.

## BOI Approves Incentives for Automotive JVs

Thailand’s Board of Investment (BOI) approved incentives for joint ventures (JVs)
between Thai and foreign firms to produce automotive parts for various propulsion
systems. Both new projects and existing manufacturers shifting to a JV structure
are eligible for an additional two-year tax exemption, up to a maximum of eight 
years, provided applications are submitted by 2025. The market might slide as the
volatile Japanese yen stokes investor concerns.