Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways to sideway-up trend within the range of 1,410-1,425 points as the mid and up-stream energy sector expected a short-term recovery, following the rise in crude oil prices. The analyst recommended investors to monitor the Thai GDP data for the third quarter as the market expected it to grow 1.3% QoQ and 2.2% YoY.
The People’s Bank of China maintained its one-year loan prime rate at 3.45%, which is essential for most household and corporate loans in the world’s second largest economy. Meanwhile, the five-year benchmark loan rate, which pegged for most mortgages in the country, was at 4.2%.
Thailand’s gross domestic product (GDP) expanded 1.5% in the third quarter from a year earlier, according to the released official data on Monday.
Even though it showed some recovery with a 0.8% growth compared to a 0.2% in the July-September quarter for Southeast Asia’s second-largest economy, it still fell short of expectations of economists in a Reuters poll that forecast the GDP to grow 2.4% from last year and 1.2% from the previous quarter.
