# Market Roundup September 5: SET index closed at 1,404.28 up 3%

- Link: https://www.thailand-business-news.com/set/160467-market-roundup-september-5-set-index-closed-at-1404-28-up-3
- Published: 2024-09-05T17:15:51+07:00
- Author: Boris Sullivan

The Thai stock market and baht experienced significant gains on September 5, 2024,
driven by investor optimism following the formation of the new government. This 
positive sentiment stems from the perceived continuity of policy, particularly regarding
economic stimulus measures.

## Key Takeaways

 * The SET index closed at 1,404.28 with a positive change of +38.79 points and 
   a total trading value of 81,736.15 million Baht.
 * The SET50 and SET100 indices also experienced positive changes of +28.16 and 
   +59.82 points respectively, with significant trading volumes.
 * The trading value was dominated by institutional and individual investors, while
   foreign investors showed a net selling position.

The benchmark Stock Exchange of Thailand Index surged by as much as 3%, reaching
its highest point since March 2023. Notably, packaging, information technology, 
and petrochemical companies led the gains. The baht strengthened by 1.5% against
the US dollar, reaching its strongest level since May 2023, making Thai stocks more
attractive to dollar-based investors.

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On 5th September 2024, the stock market closed with the following key indices: SET
at 1,404.28 (+38.79), SET50 at 888.75 (+28.16), and SET100 at 1,935.42 (+59.82).
The SETTRI index stood at 10,208.87, showing a 0.11% increase.

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The formation of the new government under Prime Minister Paetongtarn Shinawatra 
has eased political uncertainty, contributing to investor confidence. The government’s
planned 10,000 baht cash handout program for eligible Thais over 16 years of age,
expected to start this month, is seen as a positive step. Further bolstering investor
sentiment is the establishment of a new government-backed Vayupak Fund, designed
to invest in local shares and support the market. Additionally, expectations of 
US Federal Reserve interest rate cuts are also contributing to the positive outlook
for Thai assets. While foreign investors have been net sellers of Thai shares so
far this month, they are showing renewed interest in Thai bonds, with $133 million
flowing into the market in September, marking the third consecutive month of net
foreign inflows.