Thailand’s SET Index closed at 1,190.36 points, increased 5.43 points or 0.46% with a trading value of THB 26.57 billion. The analyst stated that the Thai market traded narrowly in the positive territory, with a low level of trading volume, due to investors waiting for clarity on U.S. trade policies on April 2.
Domestically, the market was bolstered by buying force from DELTA, HMPRO, electronic part stocks and power plant stocks. Gains in the market were in line with the trend seen in the regional and the U.S. markets as investors anticipated three interest rate cuts from the U.S. Federal Reserve this year, following the lower-than-expected U.S. consumer confidence.
The analyst expected the Thai market to trade sideways-up tomorrow, with traders monitoring resolutions from the cabinet meeting regarding the third phase of the cash handout, entertainment complex projects, and the tourism stimulus program.
Thai Prime Minister Paetongtarn Shinawatra successfully navigated a no-confidence vote in parliament following an intense two-day debate. The opposition criticized her for alleged undue influence from her father, former premier Thaksin Shinawatra, and accused her administration of economic mismanagement.
Australia’s consumer price index decelerated in February, with the annual inflation rate dipping to 2.4% from 2.5% seen in the previous month, contrary to expectations of stability. Meanwhile, the monthly figure remained unchanged.
The UK’s inflation rate eased marginally to 2.8% in February, slightly under the forecasted figures by analysts of a rise to 2.9%.
The US has successfully formed agreements between Ukraine and Russia, marking a major step toward peace talks that could end the war between the two nations, which has been ongoing for more than three years.
According to the agreements, Russia and Ukraine will ensure safety of commercial shipping over the Black Sea and end their attacks on each other’s energy facilities. Both sides also require the US to enforce the deals.
In March, the U.S. consumer confidence fell 7.2 points to 92.9, marking the fourth consecutive monthly decline. The Expectations Index, however, saw a deeper drop as the measure decreased 9.6 points to 65.2, the lowest in 12 years.
