SET edges up after protesters calm down

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BANGKOK, 3 December 2013 The SET index on Tuesday rose by 9.63 points to close at 1,383.89 points following the improving political situation. However, investors’ concerns over the shrinking tourism growth were a negative factor for the trading activity. 

The SET index trading value on Tuesday was over 48.54 billion baht. The top five stocks with the highest trading values were Kasikorn Bank (KBANK), True Corp (TRUE), Siam Commercial Bank (SCB), Airports of Thailand (AOT) and Jasmine International (JAS).

Analysts said SET increased in the afternoon as political tensions decreased. They however indicated that the uptrend today was limited by the protests’ tendency to drag on until the beginning of 2014 and their impact on the tourism sector.

The Tourism Authority of Thailand (TAT) earlier reported that foreign tourist arrivals were expected to decline from the end of this year until the beginning of 2014. The agency said December 2013 might see growth in arrivals of only 2.2%, much lower than its usual two-digit expansion during the high season.