Thailand’s SET Index closed at 1,377.23 points, increased 4.74 points or 0.35% with a trading value of 41.0 billion baht. The analyst stated that the Thai stock market traded sideways, as it moved very slightly in the morning session, while picking up some gains from the speculation on animal food stocks and electronic stocks after the country announced export figures which were close to expectations.
The analyst expected the market to trade sideways similarly to today, while investors awaited the announcement of PCE figures from the US and PMI numbers from China, as well as Thailand’s consideration on the Budgetary Procedures Act.
Thailand’s customs-based exports rose 3.6% in February from a year earlier, according to a report from the commerce ministry on Tuesday, which is below analysts’ expectations.
The reading compared with an estimate for a 4.4% year-on-year increase for February in a Reuters poll. Exports in January rose 10%.
Meanwhile, imports rose 3.2% year-on-year in February, higher than a 1.5% increase expected by Reuters poll.
Custom-cleared trade balance showed a deficit of 0.55 billion dollars.
According to the data from the two sources reported by Reuters, US President Joe Biden and Japanese Prime Minister Fumio Kishida were set to meet in Washington on April 10 to discuss their plans to tighten military cooperation.
The sources indicated that the US was considering the appointment of a four-star commander to oversee its forces in Japan alongside the head of the Japanese Self Defense Forces (SDF), as a US three-star commander in the country did not have any authority over the Japanese corps.
Meanwhile, Japanese Chief Cabinet Secretary Yoshimasa Hayashi stated at a regular media briefing that Japan was currently having internal talks on cooperation with the US and South Korea, while adding that the agenda for the summit between Biden and Kishida had not been decided.
Japan’s Prime Minister Fumio Kishida wanted to set up the joint command headquarters before the end of March 2025, as concerns were raised over the growth of China’s military power, which drew close to Japan’s territory after the dispute between China and Taiwan started to heat up.
The World Bank has unveiled its Systematic Country Diagnostic (SCD) Update for Thailand, outlining key reform priorities aimed at revitalizing growth in the face of a prolonged economic decline.
The report emphasizes five critical areas for reform in Thailand. These priorities include: strengthening human capital; fostering a competitive and innovative economy; unlocking growth in secondary cities; ensuring sustainable and climate-resilient development; and enhancing fiscal institutions and public finance.
According to Fabrizio Zarcone, the World Bank Country Manager for Thailand, these reforms are essential for Thailand’s advancement towards becoming an advanced economy with improved societal equity and a sustainable, climate-resilient economic model.
The report underlines the necessity for Thailand to enhance its education system, bridge skills gaps, and boost learning outcomes to drive innovation and inclusivity. This involves increased investment in education, optimized resource allocation, and aligning educational programs with the demands of the labor market.
