Thailand’s SET Index closed at 1,415.85 points, increased 5.42 points or 0.38% with a trading value of 47.7 billion baht. The analyst stated that the Thai stock market stood strong. The trading volume was back, gaining capital from saving funds for tax reduction at the last week of the year. Meanwhile, the analyst estimated the SET Index in 2024 to reach 1,640 points, hoping for a potential January Effect in the first month of the year. The export and consumption sector were also expected to recover.
The downtrend of Japan’s automobile production caused the country’s factory output and its outlook to fall in November.
Data from the Ministry of Economy, Trade and Industry (METI) showed on Thursday that Japan’s industrial production dropped by 0.9% MoM in November, though the contraction was lower than the expected median market forecast of negative 1.6%.
The motor vehicle production and the output in the electrical machinery and information and communication electronics equipment sectors decreased by 2.5% MoM in November and 3.5%, respectively, as the unfavorable circumstances were due to the drop in the manufacturing of small cars and engines and the low demand of semiconductor and integrated-circuit testing equipment.
METI stated that it will keep watching the global economic downturn and inflation, as it preserved the evaluation of the industrial output as seesawing, while manufacturers expect a 6% rise of the seasonally adjusted output in December and a drop down by 7.2% in January.
The data showed that Japanese retail sales grew by 5.3% YoY in November, above the median market forecast of 5% gain. The retail sales also rose by 1% in November MoM after the 1.7% slump in October.
