Thailand’s SET Index closed at 1,387.72 points, decreased 3.16 points or 0.23% with a trading value of 35.32 billion baht. The analyst stated that the Thai stock market exhibited a downward trend in tandem with the Asian markets, influenced by profit-taking activities and the depreciation of the Thai baht that led to fund outflows.
The analyst anticipated the market to remain range-bound tomorrow as investors keep a close watch on significant data releases from the US scheduled for tonight and Friday.
In a hopeful projection, Thailand’s Finance Minister, Pichai Chunhavajira, expressed optimism for the nation’s economic trajectory, anticipating growth beyond 3% for 2025. This follows an expected growth rate of 2.7% to 2.8% in 2024, with the tourism sector continuing as a crucial pillar of the economy.
The Indian government has revised its economic growth outlook for the current fiscal year, projecting the slowest expansion since the pandemic, pegging GDP growth at 6.4% for the year ending in March, a significant drop from last year’s 8.2%.
Australian inflation figures revealed a slight increase in consumer prices for November, mainly driven by a sharp rise in electricity costs. The monthly consumer price index rose at an annual rate of 2.3% in November, slightly up from 2.1% in October and exceeding the market forecast of 2.2%.
Meanwhile, the trimmed mean, a key measure of core inflation, decreased to an annual rate of 3.2% from 3.5%. A decline in core inflation strengthened the prospect for a potential interest rate cut as early as next month.
President-elect Donald Trump refused to pledge not to use military force or economic coercion to acquire the Panama Canal and Greenland in his expansionist agenda that he has been promoting since his victory in the November election.
He also hinted at the idea of annexing Canada into the U.S. state, demanding higher defense spending from NATO members, and changing the name of the Gulf of Mexico to the Gulf of America.
