1) FSS expects support level for SET Index at 1,540 as market cautious of Fed’s rate decision
Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways direction with a support level at 1,540 points as the market remained cautious of the Fed’s decision for a probability of another rate hike at the meeting in November. The U.S. continued to report strong economic data, which could slow down the decline of inflation rate compared to previous expectations. The analyst noted that the U.S. CPI for August will be announced next week.
2) Hong Kong suspends morning trade as city braces for Black Rainstorm
Hong Kong Stock Exchange suspended its trading session in the morning after the city issued a “Black Rainstorm” warning in the face of torrential rainfall and severe flooding.
The suspension will remain as long as the warning stays in effect. The Exchange said that the trading could be halted for the remainder of the day.
The “Black” level warning is the highest-level warning of extreme weather conditions for Hong Kong as the city was hit with the heaviest rainfall since 1884.
3) Apple falls 3% after China extends ban on iPhone
The share price of Apple fell 3% on Thursday, following a 4% drop on Wednesday. The decline came after China announced that the government was expecting to expand its ban on the use of Apple’s iPhones in sensitive departments to government-backed agencies and also state companies.
This is a new crackdown on the U.S. tech company and also a growing challenge for Apple as China is the biggest market outside of the U.S. as well as being a global production base.
The share price rose 0.27% in an after-hour trade.
