Thailand’s SET Index closed at 1,359.07 points, increased 1.66 points or 0.12% with a trading value of 60.05 billion baht. The analyst stated that the Thai stock market exhibited volatility, with the index rising in the morning session in line with regional markets buoyed by favorable GDP data and decreasing weekly initial jobless claims in the US. However, the index declined in the afternoon session due to pressures stemming from the rebalancing of the MSCI index.
The analyst expected the market to trade sideways next week, as investors monitored the formation of the new cabinet.
Thailand’s central bank governor and finance minister are set to convene in early September to commence discussions on establishing an inflation target for 2025.
This move comes as the government aims to set a new objective with hopes of facilitating a rate cut that has been advocated for several months.
Core inflation in Japan’s capital accelerated for the fourth consecutive month in August, comfortably surpassing the central bank’s 2% target. This development reinforces market anticipations of upcoming interest rate hikes.
In August, the Tokyo core consumer price index (CPI), excluding volatile fresh food costs, climbed by 2.4% compared to the previous year, exceeding the median market forecast of 2.2% and the 2.2% rise recorded in July.
Media reports indicated that tech giants Apple and Nvidia are in discussions to invest in OpenAI as part of a new fundraising round that may elevate the valuation of the ChatGPT creator to over $100 billion.
The Wall Street Journal initially disclosed Apple’s potential interest, while Bloomberg News highlighted Nvidia’s prospective participation.
Inflation in the Euro zone dropped to a three-year low of 2.2% in August. This decrease from July’s 2.6% aligns with the projections made by economists surveyed by Reuters.
The core inflation rate, which excludes volatile components such as energy, food, alcohol, and tobacco, also registered a decline from 2.9% in July to 2.8% in August, in line with expectations.
