Thailand’s SET Index closed at 1,345.77 points, increased 4.83 points or 0.36% with a trading value of 36.90 billion baht. The analyst stated that the Thai market rebounded after exhibiting a sharp decrease in the previous session, partly due to the impact of DeepSeek AI on DELTA. Strong buying activity in big-cap stocks contributed to today’s positive performance.
The analyst expected the Thai market to trade sideways tomorrow, as investors keep a close watch on 4Q24 financial results of listed firms and await the outcome of the Federal Open Market Committee meeting by the US Federal Reserve, anticipating the central bank to hold its benchmark rates.
Thailand reported a 17.37% decline in car production for December compared to the previous year. This brings the production figures to 104,878 units for the month, highlighting a continuation in declining trends as the sector recorded its 17th consecutive month of contraction. The previous month had already seen a sharper 28.23% drop year-on-year.
The sell-off in tech stocks, especially Nvidia, from the rise of DeepSeek has sparked mixed reactions among analysts at major financial institutions.
Analysts from JPMorgan caution that the AI investment cycle may be overhyped, while Jefferies proposes two strategies: continue investing in computing power or focus on efficiency, which could reduce AI capital expenditure in 2026.
In contrast, Bernstein and Citi downplay the panic surrounding DeepSeek, maintaining confidence in US companies like Nvidia and Broadcom.
Jensen Huang, the co-founder of Nvidia Corp., along with the world’s 499 other richest individuals, just lost a combined $108 billion after a selloff in technology stocks, particularly those tied to Chinese artificial intelligence (AI) developer DeepSeek, which also dragged down major stock market indices.
Aside from Huang, who lost 20% of his fortune (approximately $20.1 billion), other billionaires tied to AI saw significant declines. In total, $94 billion in wealth from tech-sector titans, roughly 85% of the total decline in the Bloomberg Billionaires Index, just evaporated.
