Thailand’s SET Index closed at 1,401.72 points, decreased 5.30 points or 0.38% with a trading value of 39.4 billion baht. The analyst stated that the Thai stock market declined following the negative sentiment from overseas after ECB signaled the unnecessary urge to cut interest rates. The domestic factors were disappointing, as the digital wallet scheme was seen to be slower-than-expected to deploy or potentially set to reduce to a limited range, causing the retail stocks to slump.
The analyst expected the market to trade sideways tomorrow, while investors awaited the verdict of ITD’s debenture holders meeting.
The first 2024 Republican US presidential contest in Iowa, also known as Iowa caucus, demonstrated a decisive outcome for Donald Trump after he secured a victory for his aim to a third consecutive nomination and a rematch with President Joe Biden.
The overwhelming victory in Iowa affirmed the expectation for Donald Trump to be nominated as he largely took the lead in national polls despite his four criminal indictments.
Meanwhile, Florida Governor Ron DeSantis and former U.N. Ambassador Nikki Haley were competing for the second place as they wanted to show confidence to donors and supporters that their challenges to Trump remain viable.
Trump won the Iowa Caucus with over 75% of the vote. Meanwhile, Ron DeSantis came in second with only 12% of the vote and Nikki Haley was third with 7%.
Japanese companies in China come into 2024 with doubts still on their mind on growth momentum of the world’s second largest economy after cutting investment or keeping it flat last year due to slow economic recovery and demand.
Bloomberg reported by citing the survey from the Japanese Chamber of Commerce and Industry in China by stating that the majority of Japanese firms in China said that they do not have a positive outlook for 2024 with only a quarter of firms doing the survey said that they expect the economy to improve.
Official data from the government body late last year showed that foreign direct investment was falling to the lowest level in four years in the year through November despite the effort from Beijing to stimulate its economy to bring back foreign investment.
China is considering an issuance of 1 trillion yuan of new debt under a special sovereign bond plan to finance the efforts to boost its lackluster economy. If approved, it will be the fourth such sale in the past 26 years in history.
The plan is under intense discussion by high level policymakers. It would involve an issuance of ultra-long sovereign bonds to fund measures that support food, energy, supply chains and urbanization sectors.
