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

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.