Thailand’s SET Index closed at 1,379.96 points, decreased 1.87 points or 0.14% with a trading value of 38 billion baht. The analyst stated that the Thai stock market moved narrowly in anticipation of the Fed’s meeting tonight, expecting the central bank to keep the interest rate at 5.25-5.50%. The analyst recommended investors to monitor the Fed’s statement and ADP employment.
Vietnam’s Long Son Petrochemicals, a unit of Thailand’s SCG Chemicals, announced a test run of its new petrochemical complex in the southern region in November and December, according to the report from Reuters, citing the company’s statement on Wednesday.
The commercialized date of this giant petrochemical facility has been delayed from September. The complex is now expecting a full commercial production to begin early next year.
This $5 billion facility will produce 1.4 million metric tons of plastic resins a year. Its raw materials, naphtha and propane, will be imported mostly from the Middle East.
The Bank of Japan turned from stepping-in in the currency market to intervene in the government bond market to control a rise in yields to fresh decade highs on Wednesday, a day after a tweak of its yield curve control policy.
The 10-year Japanese government bond yield rose 2 basis points early Wednesday to 0.97%, which was a level not seen since May 2013. The yield later retreated to 0.95% after the central bank announced an emergency bond-purchase operation.
