Thailand’s SET Index closed the morning session on Friday at 1,630.37 points, increased 11.14 points or 0.69% with a trading value of 48 billion baht.
Positive sentiment is circulating around stock markets after the U.S. reported lower-than-expected inflation for October, which gave traders some hope that the Federal Reserve’s pivot could come sooner than previously anticipated.
The U.S. Consumer Price Index (CPI) for October surprised the market after an increase of 0.4% for the month and 7.7% from a year ago, which were lower than estimates. The consensus expected an increase of 0.6% for the month and 7.9% from last year.
Core inflation which excludes volatile food and energy costs rose 0.3% for the month and 6.3% on an annual basis. Both figures were also lower than the consensus for 0.5% and 6.5%.
More importantly, the Chinese government had just made an announcement this afternoon by relaxing the quarantine period for international travellers by two days, which could boost investors’ sentiment for further relaxation from the world’s second largest economy in the future.
China reportedly reduced the length of quarantine for international travellers by two days, according to state-run media on Friday.
According to a National Health Commission statement released on Friday, foreign visitors in China will be required to undergo a eight-day quarantine period: five days in a hotel or government quarantine facility, followed by three days of home observation.
Quarantine under the present regulations lasts for a total of 10 days: one week in a hotel and three days at home.
According to the report, the new timeframe also applied to close contacts with Covid infections within China.
