In a week marked by fluctuating market dynamics and international trade discussions, the Thai stock market showed signs of resilience, while efforts to bolster the export of Thai durians to China gained momentum.
According to HoonSmart, Kasikorn Securities has set support levels for the Stock Exchange of Thailand (SET) at 1,140 and 1,120 points, while resistance levels are pegged at 1,170 and 1,195 points. The report indicates that the Thai baht is anticipated to trade within a range of 33 to 34 baht per dollar, reflecting a recent high of 33.08 baht, the strongest rate in over six months.
On Friday, April 18, 2025, the SET closed at 1,150.95 points, marking a 1.97% increase from the previous week. The average daily trading value fell to 32,909.53 million baht, a significant drop of 35.06%. Meanwhile, the Market for Alternative Investment (mai) experienced an 8.53% increase, closing at 252.17 points.
Kasikorn Securities attributes this rise to a positive response from investors following the U.S. announcement of tax exemptions for certain electronics and semiconductor products. This news, coupled with domestic institutional buying, particularly in the energy sector, has provided a boost to the market. However, concerns surrounding the ongoing trade war have kept the market's movements somewhat restrained.
In the realm of international trade, Thailand's durian exports to China are set to expand, as Minister of Commerce Phichai Naripthaphan met with Chinese Ambassador Au Jue and Commercial Counselor Zhang Xie on April 18, 2025. During their meeting, they discussed strategies to enhance the export of Thai durians, particularly the popular Monthong variety, which has received acclaim for its quality and taste.
Phichai emphasized the significance of ensuring smooth export operations throughout the durian season, aiming for continued growth in import volumes. He urged Chinese authorities to relax inspection measures for contaminants and to expedite customs processes, which would facilitate a more efficient export flow.
In 2024, Thailand exported approximately 833,000 tons of durians to China, valued at around 3.7 billion US dollars, accounting for 97.4% of Thailand's total durian exports. The Ministry of Commerce is launching a comprehensive campaign to enhance the image and sales of Thai durians in China, focusing on quality assurance, digital marketing strategies, and consumer engagement activities.
This initiative includes collaborations with influencers and e-commerce platforms to target younger consumers, as well as promotional events featuring Thai durian dishes in restaurants across China. The campaign aims to establish May 5 as 'Thai Durian Day' to align with peak production periods.
On another front, the Department of International Trade Promotion (DITP) is taking steps to tighten regulations regarding the issuance of Certificates of Origin (Form CO) for 49 items exported to the United States. This move comes in response to U.S. concerns about the misrepresentation of product origins, which has become a significant issue in trade relations.
The DITP's proposal, which is set to be presented to the Cabinet for approval, aims to centralize the issuance of Form CO, thereby enhancing the credibility of Thai exports. This initiative is crucial for maintaining trade relationships with the U.S. and ensuring compliance with international trade standards.
The list of items under scrutiny includes various products such as honey, rubber tires, and aluminum foil, among others. The DITP is also working to clarify the details regarding the expansion of the scope of goods eligible for Form CO, which was effective from May 1, 2024.
As the Thai economy navigates these complex trade landscapes, the resilience of the stock market and the proactive measures taken to secure export channels reflect a broader strategy to bolster economic stability and growth.
In summary, the Thai stock market is showing signs of recovery with positive trading activity, while the government is actively pursuing strategies to enhance the export of durians to China and streamline trade processes with the United States. These developments highlight Thailand's commitment to fostering robust international trade relationships and ensuring the continued success of its agricultural exports.
