1) FSS recommends keeping eyes on political issues
Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways to sideways-up trend within the range of 1,530-1,545 points. The analyst recommended investors to keep an eye on the Constitutional Court on accepting the case of Thai PM candidate Pita Limjaroenrat for holding shares in the telecommunication industry, which could be violating the election laws. The analyst still believed that there is a low probability that Pita will be approved in this round of voting.
2) Microsoft closes at record high after announcing the pricing of its AI services
Shares of Microsoft closed at a record high on Tuesday after the company revealed the pricing for its new Microsoft 365 AI subscription service.
The price closed at $359.49 per share, increasing 4% and topping the previous record on June 15 when it closed at $348.10 per share. Microsoft is now up 50% from the beginning of this year.
Microsoft’s Copilot subscription service added the newly developed AI to its Office’s line of products. The tech company will charge $30 per month for the service and open for an increase in monthly prices for enterprise customers as much as 83%.
3) Oil prices lose momentum despite China pledges to support its weak economy
Oil prices rose in the morning on Wednesday, but fell short as the session progressed as China’s economists pledged to support its growth and also concerns over tighter supply from Russia.
The international benchmark Brent crude fell $0.17 or 0.21% to $79.46 a barrel. Meanwhile, the West Texas Intermediate dropped $0.27 or 0.36% to $75.48 a barrel.
China’s top economic planner on Tuesday pledged that it would roll out policies to restore and expand consumption amid weak consumers’ purchasing power.
Meanwhile, Russia will cut its oil exports by 2.1 million tons in the third quarter.
