Thailand’s SET Index closed at 1,451.16 points, decreased 1.87 points or 0.13% with a trading value of 40.85 billion baht. The analyst stated that the Thai stock market traded narrowly to form a base ahead of the US jobs data announcement at the end of the week, the presidential election scheduled on November 5, and the depreciation of the bond yield.
The analyst expected the Thai market to continue trading within range, as investors monitored supporting catalysts.
The Ministry of Tourism in Thailand reported a substantial rise in foreign visitor arrivals, reaching 28.4 million from January 1 to October 27, 2024. This figure marks a significant 29% increase compared to the corresponding period in 2023. The tourism sector is showing signs of recovery and growth despite previous challenges.
Thailand’s Finance Minister Pichai Chunhavajira expressed the need for the country’s inflation target to be revised upwards to surpass 1%. The statement was made ahead of a crucial meeting between the minister and the central bank governor, Sethaput Suthiwartnarueput, with both parties aiming to finalize a new inflation target range.
The U.S. government is finalizing rules to limit investment of its U.S. companies in artificial intelligence and other technology sectors in China that could pose a threat to U.S. national security, starting January 2, with the newly established Office of Global Transactions within the U.S. Treasury will oversee this new regulation.
