Thailand’s SET Index closed at 1,356.54 points, decreased 13.38 points or 0.98% with a trading value of 48.6 billion baht. The analyst stated that the Thai stock market dropped following the report from the Ministry of Finance on the country’s GDP growth in 2023 of only 1.8%, which is lower than the expected 2.3%. This raised concerns among investors and caused the stock selloff as well as the slump of futures.
The analyst expected the market to rebound tomorrow, while investors kept their eyes on the official report of Thailand’s economy from the Ministry of Finance.
The Bank of Japan maintained its ultra-loose monetary policy at the first central bank meeting of this year, which was largely expected by the market.
The resolution was unanimous among the central bank’s policy makers to keep interest rates at -0.1% and to stick to its yield curve control that has the upper limit for 10-year Japanese government bond yield at 1%.
Polls by economists in Reuters also showed that the decision to hold rates was expected at the meeting this month, which leaves the Bank of Japan the only central bank in the world with negative rates.
The controversial draft of Chinese gaming curb was removed from the National Press and Publication Administration’s (NPPA) website on Tuesday, causing gaming stocks in the country to bounce back.
The incident raised questions for analysts to call it ‘unusual’ as the previous regulatory measures tend to stay on the website even after the consultation period, while some analysts stated a possibility of the amendment of the curb.
The share price of Tencent Holdings and NetEase, two of the world’s biggest gaming companies, surged as much as 6% and 7%, respectively, in the morning session, and keeping more than 4% uptrend at noon against the Hong Kong’s Hang Seng Index (HSI), which closed 2.63% higher.
