Thailand’s SET Index closed at 1,353.17 points, increased 12.92 points or 0.96% with a trading value of 44.21 billion baht. The analyst stated that the upturn in the Thai stock market mirrored the positive performance of other ASEAN markets. This followed easing concerns among investors regarding US inflation rates, triggered by President-elect Trump’s indication of a potential relaxation in import tariff policies.
Additionally, market sentiment was also influenced by Bank Indonesia’s unexpected decision to cut interest rates, prompting a shift in focus towards speculative trading in bank equities.
The analyst anticipates that the Thai market will sustain its upward trajectory within a certain range tomorrow, pending the release of US inflation data scheduled for tonight.
Market participants will closely watch for any announcements from Donald Trump, while also keeping a keen eye on the fourth-quarter 2024 GDP figures from China.
According to sources familiar with the matter, Japan is poised to miss its target of achieving a primary budget surplus by the next fiscal year, starting this April. The minority government faces mounting demands for increased spending, adding to the complexity of its fiscal challenges.
The U.K.’s consumer price index (CPI) unexpectedly fell to 2.5% in December, diverging from the steady 2.6% anticipated by economists in November.
This development is set to influence the Bank of England’s upcoming meeting on February 6, where the central bank is likely to reduce the key interest rate from 4.75% to 4.5%, despite ongoing inflationary concerns such as robust wage growth and economic uncertainty in Britain.
