Thailand’s SET Index closed at 1,364.31 points, decreased 0.50 points or 0.04% with a trading value of 43.47 billion baht. The analyst stated that the Thai stock market traded narrowly with limited upside and maintained stability despite better-than-expected export numbers in July. Investors are closely observing fresh catalysts from both domestic and international sources.
The analyst expected the market to trade sideways tomorrow.
Thailand’s exports demonstrated a notable increase of 15.2% in July compared to the same period last year, exceeding the predictions of analysts.
This growth beat a projected 6.0% rise forecasted in a Reuters poll for July and followed a slight decline of 0.3% in June.
Thailand’s automobile production witnessed a significant drop of 16.62% in July compared to the same month last year, amounting to 124,829 units, primarily attributed to dwindling domestic sales. This marks the 12th consecutive month of contraction in production.
During the period of January to July this year, car production experienced a 17.28% decline year-on-year, totaling 886,069 units.
The Bank of Thailand disclosed that non-performing loans (NPLs) within Thai banks experienced a marginal rise to 2.84% of outstanding loans by the end of June, up from 2.80% at the close of March.
The central bank clarified that the second-quarter figures encompassed both banks and their subsidiaries. Excluding the subsidiaries, banks’ NPLs stood at 2.74% at the conclusion of March.
Canada announced its decision to impose a 100% tariff on Chinese-made electric vehicle imports, matching US tariffs, in line with similar actions outlined by the European Commission.
The move came after US national security advisor Jake Sullivan urged Canadian Prime Minister Justin Trudeau and cabinet ministers to take this step during a meeting on Sunday. Sullivan is scheduled to visit Beijing on Tuesday.
