Thailand’s SET Index closed at 1,206.39 points, decreased 29.46 points or 2.38% with a trading value of THB 50.18 million. The analyst stated that the Thai market dropped sharply due to concerns in the region over the global trade war, with domestic factors including program trading, short selling activities, the redemption of LTFs that have matured, and severe lack of confidence in the market.
For tomorrow, the analyst expected the Thai market to trade with volatility, while investors monitor the Monetary Policy Committee meeting.
Thai exports significantly outpaced expectations in January, with an impressive year-over-year increase of 13.6%. This surge exceeded the average prediction of a 7.15% rise, as anticipated by a Reuters poll, and follows an 8.7% increase recorded in December.
This growth was supported by continued expansion of trading partner economies, inflation returning to target levels, and increased manufacturing activity.
In an effort to energize a sluggish economy, South Korea’s central bank has trimmed its key interest rate by 25 basis points to 2.75%, marking the lowest level since August 2022. This latest cut, aligned with the expectations set by Reuters-polled economists, marks the third reduction in the last four policy meetings by the Bank of Korea.
Meanwhile, in response to the U.S. President Donald Trump’s aggressive trade policies, business leaders in the nation are taking proactive steps by engaging with his former aides and lobbying in Republican-led states, reflecting their frustration over their government’s delayed actions amid its own political turmoil.
In the U.S., the Trump administration is taking steps to intensify U.S. semiconductor restrictions and urging allies to tighten their own controls on China’s chip sector. This move signals that the new president aims to expand on the policies initiated by Joe Biden to curtail China’s technological advancements.
