Thailand’s SET Index closed at 1,495.02 points, increased 10.01 points or 0.67% with a trading value of 60.3 billion baht. The analyst stated that the Thai stock market extended gains in today’s session in response to the BOT’s rate cut with power generator and telecom stocks contributing the highest to the market.
The analyst also noted that investors returned to buy banks to speculate on 3Q24 earnings. Still, the market lacked a significant boost to break the 1,500 resistance level.
In a move to boost the completion of unfinished homes and stabilize the declining real estate sector, China is set to nearly double its loan quota for “white-list” property projects to 4 trillion yuan. This increase from the current 2.23 trillion yuan, as of October 16, was announced by Housing Minister Ni Hong and other officials during a briefing on Thursday.
Within a nine-month period, the Japan National Tourism Organization reported that the nation earned 5.86 trillion yen ($39.27 billion) from tourist spending, surpassing the previous annual record of 5.3 trillion yen set in 2023.
With its capability to fuel the weak yen, the nation is now considering Tourism spending, already classified as an export in national accounts, as the second-biggest export sector, surpassing electronic components but behind autos.
Japan has welcomed 26.88 million tourists so far this year, putting the country on track to break the record of 31.9 million visitors set in 2019, before the COVID-19 pandemic. July saw the highest number of visitors, with around 3.29 million, while September recorded 2.87 million arrivals.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) revealed a remarkable 54% surge in net profit for the third quarter on Thursday, surpassing market expectations. This growth comes as TSMC continues to benefit from the escalating demand for semiconductors utilized in artificial intelligence applications.
According to TSMC, the strong performance in the third quarter was underpinned by robust demand for smartphones and AI-related applications leveraging the company’s cutting-edge 3nm and 5nm technologies.
According to a report from Nikkei Asia, Delta Electronics, the top provider of power management solutions globally and also a supplier for Nvidia, is planning to establish its own energy facilities in India and Thailand as part of its commitment to decarbonize its worldwide supply chain.
