Thailand’s SET Index closed at 1,398.14 points, decreased 4.33 points or 0.31% with a trading value of 48.38 billion baht. The analyst stated that the Thai stock market traded sideways following the selloff of stocks after the index extended its gain for two consecutive days, overlapping the Makha Bucha Day which was considered as a holiday for Thailand.
The analyst expected the market to continue trading sideways next week, as the fund flow from foreign investors supported the market after many listed companies reported their 2023 earnings.
Thailand’s customs-cleared exports rose for the sixth consecutive month in January by 10% from last year, beating 8.8% expansion expected by a Reuters poll. The reading showed growth in exports, up from a 4.7% rise last December.
Meanwhile, imports rose 2.6% in January from a year earlier, beating a forecast for a 3.1% decline.
The kingdom posted a trade deficit of $2.76 billion in January, compared to a forecast for a $1.54 billion deficit.
The Commerce Ministry expected exports to continue rising in the first quarter. He noted that the outlook for 2024 should continue to expand, driven by the global economic recovery, easing of the global inflation situation, and demand for food security.
Social media company Reddit filed its initial public offering (IPO) prospectus with the Securities and Exchange Commission under the symbol “RDDT.” The new IPO was expected to start trading on the New York Stock Exchange in March as the first major tech IPO of the year and also the first listed social media IPO since Pinterest in 2019.
