The Thai stock market closed its morning session nearly 1% lower on Monday as investors were weighing on the upcoming U.S. inflation data in April that was expected to be lower than March, but still at a 40-year high of 8.1%.
At the closing of the morning session on May 9, 2022, Thailand’s SET Index closed at 1,614.01 points, decreased 15.57 points or 0.96% with a trading value of 38 billion baht.
Meanwhile, Japan’s Nikkei plunged 2.41%, China’s mainland SSEC fell 0.30%, Australia’s ASX 200 dropped 1.27%, and Indonesia’s IDX Composite decreased 3.88%.
The U.S. will report its April inflation data on Wednesday local time in which economists’ consensus indicated a slow down of the consumer price index from 8.5% in March to 8.1%, which is still at a high level of 40-year high.
In the meantime, exports and imports in China slumped in April amid worsening Covid-19 outbreak leading to a cutback on demand and undermining production.
Chinese export growth in April slowed to 3.9% in dollar terms from a year earlier, compared to an increase of 14.7% in March, customs data showed Monday. This marks the weakest growth pace since June 2020. On the other hand, imports were unchanged in April after sliding 0.1% in the previous month.
