Thailand’s SET Index closed at 1,150.95 points, increased 9.67 points or 0.85% with a trading value of THB 27.67 billion. The analyst stated that the Thai market continues to surge in the afternoon session as Thailand is set to negotiate trade deals with the U.S. next week.
After the U.S.-Japan trade talk, trade war concerns have temporarily subsided, which bolster market sentiment toward rebuying major stocks, particularly DELTA and PTT. This rally further reinforced the SET Index gains.
The analyst expects the Thai market to move sideways-up next week.
Thailand has set the process in motion to select the next governor of the Bank of Thailand (BOT), as current chief Sethaput Suthiwartnarueput’s term is set to expire in September after a five-year stint.
In March, Japan’s inflation rate rose by 3.6% year-over-year, maintaining a streak of surpassing the Bank of Japan (BOJ)’s 2% target for three consecutive years. Meanwhile, the rate slightly fell from February’s 3.7%.
U.S. President Donald Trump, on Thursday, voiced optimism regarding a potential favorable trade agreement with China for a “very good” deal, despite the recent implementation of steep tariffs of up to 245% on Chinese imports by the United States in response to retaliatory measures from Beijing.
However, in a significant escalation of maritime trade policy, the U.S. has announced new tariffs on ships manufactured in China, responding to mounting concerns over China’s grip on global shipbuilding.
