Thailand’s SET Index closed at 1,386.04 points, decreased 1.09 points or 0.08% with a trading value of 47.5 billion baht. The analyst stated that the Thai stock market underperformed regional markets due to some lower-than-expected 3Q23 earnings such as electronics stocks. Meanwhile, there was no buying pressure in the energy stocks to boost the market and the conditions of new ESG Funds also disappointed investors.
The analyst expected the SET Index to move steadily tomorrow and advised investors to monitor the US inflation data tonight.
The euro zone economy showed contraction on a quarterly basis in the third quarter, the second estimate confirmed on Tuesday, which underlined expectations of a technical recession if fourth quarter GDP contracts as well.
Economy in the euro zone contracted 0.1% quarter-on-quarter in the July-September period, according to an estimate from the European Union’s statistics office Eurostat. However, data showed that the economy grew 0.1% year-on-year in the third quarter.
Meanwhile, Eurostat data showed France’s economy grew 0.1% quarterly, 0.3% in Spain and 0.5% in Belgium. However, all the gains in other European countries could not offset a 0.1% quarterly slump from Germany, Austria, Portugal, Ireland, Estonia and Lithuania. Italy also reported a flat growth.
Prime Minister Srettha Thavisin clarified to the public after being asked about a plan to station Chinese police personnel at some of Thailand’s popular tourist destinations, explaining that it might be a miscommunication and he does not have or consider a plan to bring Chinese police to station in Thailand.
The dispute came after the report of Prime Minister Srettha Thavisin, senior police and tourism officials were discussing a plan to increase Chinese tourists’ confidence, following the Paragon shooting incident and the recovery after Covid pandemic. The plan was said to station Chinese police personnel at some of its popular tourist destinations to raise the confidence of travellers from the Asian neighbour. However, such a plan has caused a controversy, with some critics raising concerns over sovereignty.
