Thailand’s SET Index closed at 1,391.03 points, increased 12.09 points or 0.88% with a trading value of 61.1 billion baht. The analyst stated that the Thai stock market continued to recover in response to declining bond yields following the firm direction of the Federal Reserve on monetary policy. The US dollar also weakened, while China industrial output grew.
The analyst noted that the Thai stock market started to recover after a series of declines, expecting the market to extend gains next week.
The Ministry of Finance ordered the Securities and Exchange Commission (SEC) to consider canceling Robot Trading as an urgent matter. Meanwhile, the Stock Exchange of Thailand (SET) and investors in the field suggested the authorities to carefully assess the situation, adding that the cancellation of Robot Trading will bring both pros and cons, while expressing concerns that foreign investors could turn away from the Thai stock market, as the trade will lack flexibility.
PTT Exploration and Production Public Company Limited (SET: PTTEP), has announced that, on 29 September 2023, PTTEP Sarawak Oil Limited (PTTEP SKO), a subsidiary of PTTEP, has entered into a Farm-Out Agreement to transfer ten percent (10%) of its participating interest in Block SK405B PSC to Petronas Carigali Sdn. Bhd. (PCSB).
The completion is anticipated within the first quarter of 2024. After completion, the participation interest will be as follows: PTTEP SKO (Operator) 49.5%, PCSB25% and MOECO Oil (Sarawak) Sdn. Bhd. (MOECO) 25.5%.
PTTEP stated that this divestment aligns with PTTEP’s investment strategy to rationalize participating interests and investment partners which would help accelerate the project development as well as reduce risk and development costs.
European Union leaders agreed to commence the talks with Ukraine regarding EU membership accession, while facing obstacles as Hungary refused to pass the 50 billion euro financial aid for the country at war.
Viktor Orban, Hungarian Prime Minister, rejected the package of financial aid for Ukraine, while pointing that the budget should be spent on other priorities such as managing migration in the EU. He demonstrated that as Ukraine is not part of the European Union, it should not get excessive money from the budget.
