Thailand’s SET Index closed at 1,434.59 points, increased 4.97 points or 0.35% with a trading value of 47.6 billion baht. The analyst stated that the Thai stock market bounced back to close in a positive territory after dropping for almost 10 points at the end of the morning session from a selloff in DELTA. The trend in the morning session conformed to the Asian market following the revision of Apple’s rating to underweight, causing a selloff in stocks related to electronics parts. Meanwhile, the TIP market (Thailand, Indonesia and the Philippines) rose to a positive territory in the afternoon session after an estimation for the market to recover in 2024. The tourism stocks showed strong gains to support the index.
The data from Epiq AACER showed an 18% jump in US bankruptcy filing statistics in 2023 amid high interest rates, stronger lending standards, and the depleting number of pandemic-era supporting measures. Meanwhile, the level of the aforementioned filing was still lower than the level before the pandemic.
The filing numbers are expected to keep rising in 2024, while there are still some gaps before reaching the 2019 level of 757,816.
TikTok reportedly plans to expand its United States e-commerce operations, targeting a potential tenfold growth to reach up to $17.5 billion this year. This move is seen as an increased challenge to Amazon.com, as per sources familiar with the situation.
TikTok’s ambitious goal put high pressure on the competition not only with Amazon but also with other Chinese-owned companies like Temu and Shein, which have been gaining popularity among younger American consumers. Unlike its two competing discount retailers, TikTok relies on its extensive social media presence and the attraction of viral videos to attract and engage buyers.
