Krungsri Securities (KSS) expected weak trading session for Thailand’s SET Index at around 1,420-1,425 points, following the uncertainty of Fed’s rate cuts after the CME FedWatch Tool showed lower probability for the central bank to cut interest rates in March, which led to an increase in US dollars and bond yields, pressuring risk assets.
However, the analyst expected the SET Index could rebound following a rise in oil prices.
Bitcoin plunged as much as 9% last night as jitters around the anticipated approval of a spot bitcoin ETF began to weigh on the market.
It has been reported that the plummet of over $3,000 in Bitcoin was due to a Crypto service provider, Matrixport, putting out a statement guessing that SEC Chairman Gary Gensler and its officials will not approve the Bitcoin ETF until the Second Quarter of the year.
The market anticipated that the SEC would approve spot Bitcoin ETFs by the January 10 deadline. If everything goes according to the plan, the SEC could begin notifying issuers of approval of ETF spot Bitcoin on Friday and the trading could begin as early as next week.
The United States of America, together with 43 countries, including Australia, Canada, Denmark, Germany, Italy, Japan and UK, published a joint statement regarding the attack of Houthi in the Red Sea via the White House website that warned Houthis of severe consequences if these illegal attacks on commercial vessels continue.
“Let our message now be clear: we call for the immediate end of these illegal attacks and release of unlawfully detained vessels and crews. The Houthis will bear the responsibility of the consequences should they continue to threaten lives, the global economy, and free flow of commerce in the region’s critical waterways. We remain committed to the international rules-based order and are determined to hold malign actors accountable for unlawful seizures and attacks,” the message stated at the end.
