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Hot stock: ThaiBev hits 2.5-month high on heavy trading after Thailand approves alcohol tax cuts

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Vivienne Tay

Vivienne Tay

Published Wed, Jan 3, 2024 · 10:45 AM
    • Shares of ThaiBev, which owns Chang Beer, have been heavily traded on Wednesday.
    • Shares of ThaiBev, which owns Chang Beer, have been heavily traded on Wednesday. PHOTO: BLOOMBERG

    SHARES of mainboard-listed Thai Beverage (ThaiBev) hit a 2.5-month high on Wednesday (Jan 3) morning amid heavy trading, extending gains from the previous day.

    This came as Thailand’s Cabinet approved a tax cut on alcoholic beverages and entertainment venues in a bid to support tourism. 

    ThaiBev’s counter rose as much as 1.9 per cent or S$0.01 to S$0.55 right when the market opened on Wednesday. The last time the counter closed near this level was on Oct 16, 2023.

    Hot StockThai BeverageThailandF&B

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