Thailand’s SET Index closed at 1,138.90 points, increased 10.24 points or 0.91% with a trading value of THB 41.20 billion. The analyst stated that the Thai market rebounded more than 10 points, especially in the afternoon session. This growth follows the foreign markets movement during the Songkran holidays after the U.S. postponed its tariffs on technology goods.
The positive momentum in the Thai stock market contradicted the downward trend seen in the regional markets, exhibiting profit-taking activities. Notably, stocks related to power plants and the global economy in the Thai market showed a distinguished performance.
Meanwhile, the Monetary Policy Committee (MPC) is expected to cut interest rates in the late April meeting.
The analyst expects the Thai market to continue surging tomorrow.
Thailand is set to increase its import of liquefied natural gas (LNG) from the United States over the next five years. This decision precedes upcoming discussions on tariffs with U.S. officials slated for early next week.
China’s economy outpaced expectations by growing 5.4% year-on-year in the first quarter. However, the escalating trade tensions with the United States are casting a shadow on the economic outlook, increasing the pressure on Beijing to implement further stimulus measures.
In March, the United Kingdom’s annual inflation rate dropped to 2.6%. The figure was slightly below analyst expectations with Reuters economists predicting a 2.7% increase in the consumer price index. Additionally, the figure previously reached 2.8% in February following a significant rise to 3% in January.
