Thailand’s SET Index closed at 1,488.74 points, decreased 1.08 points or 0.07% with a trading value of 41.63 billion baht. The analyst stated that the Thai stock market exhibited volatility following the selloff of New Co stocks, including GULF, INTUCH, and ADVANC, as well as DELTA, while investors closely monitoring 3Q24 earnings reports which played an important role on the trading activity.
The analyst expected the market to continue a similar movement tomorrow.
Thailand’s investment commitments surged by 42% in the January-September period compared to the same period last year, fueled by projects in electronic manufacturing and data centers, as announced by the Board of Investment on Monday.
During this timeframe, the value of investment applications climbed to 723 billion baht ($21.8 billion), marking a decade-high record, with a majority originating from overseas investors. Foreign investment requests also saw a notable increase of 38% from the previous year, reaching 547 billion baht ($16.5 billion), with Singapore and China emerging as the top two contributors.
From October 22 to 24, Putin will host a BRICS summit in Kazan, bringing together the intergovernmental group of Russia, Brazil, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. His main objective is to urge BRICS to establish a new payment platform that would overhaul the global financial system, reducing reliance on the U.S. dollar and bypassing Western sanctions.
Speaking at the Singapore International Energy Week, Amin H. Nasser, CEO and President of Saudi Aramco, reaffirmed Aramco’s commitment to increasing its liquids-to-chemicals capacity to 4 million barrels a day, with a focus on the Chinese market.
However, other market analysts have suggested that China’s oil demand may have peaked or will soon decline, as the country accelerates its shift to electric passenger vehicles and adopts liquefied natural gas for commercial trucks.
Josh Shapiro, Pennsylvania governor from the Democrat party, called on law enforcement to probe Elon Musk’s promise at the weekend pro-Trump rally regarding a daily $1 million giveaway until the election.
Musk gave a $1 million check to a participant at the rally in Harrisburg, Pennsylvania. The event was organized by America PAC, a political group established by Elon Musk in support of Republican candidate Donald Trump for the presidential election on November 5.
Shapiro stated that Musk’s intention to provide funds to registered voters in Pennsylvania raises some concerns and should be investigated by law enforcement.
