Krungsri Securities (KSS) expected Thailand’s SET Index to move in a downward trend to 1,355-1,350 points due to a lack of catalyst to support the market even with a positive sentiment from the anticipation that the US Federal Reserve will cut interest rates in the middle of this year. The outflows of foreign capital would pressure the Thai stock market to fluctuate.
China expects to see an economic growth of around 5% this year, according to the “Government Work Report” released Tuesday along with other economic indicators as part of the opening of the National People’s Congress annual meeting that is being held this week.
The government will target the development model, curbing industrial overcapacity, defusing property sector risks and cutting wasteful spending by local governments.
The economic growth target remains the same as last year when the Chinese government reported a slightly higher-than-expected GDP growth at 5.2% in 2023.
Bitcoin surged as much as $68,638.55 per coin yesterday to the highest level since November 2021, which was the last time it reached the record high, according to Coin Metrics.
The next Bitcoin Halving will be on April 19, 2024.
