Thailand’s SET Index closed at 1,371.90 points, increased 2.61 points or 0.19% with a trading value of 36.36 billion baht. The analyst stated that the Thai stock market traded narrowly and underperformed compared to the regional markets, as investors mainly focused on investing in specific stocks.
The analyst expected the market to continue trading narrowly as investors kept their eyes on the remaining 1Q24 earnings reports and inflation figures from the US.
The United Kingdom has seen a resurgence in its economy, marking a 0.6% increase in gross domestic product during the first quarter, surpassing expectations of 0.4% from economists polled by Reuters.
The UK economy demonstrated signs of recovery, following a period of mild recession in the latter part of 2023 due to ongoing inflationary pressures from two consecutive quarters of negative growth.
During the January to March period, the production sector in the UK expanded by 0.8%, contrasting with a 0.9% decline in the construction sector. The economy experienced a monthly growth of 0.4% in March, building upon a 0.2% expansion in February.
European firms operating in China are encountering challenges in maintaining profitability due to decelerating growth and rising pressures of overcapacity, as outlined in a survey released on Friday by the EU Chamber of Commerce in China.
Companies in the city are facing delays in receiving payments and encountering difficulties in contract enforcement, when compared to the previous year.
The recent slowdown in Chinese economic growth, attributed to geopolitical tensions and a decline in the real estate sector which is closely linked to local government finances, has impacted the financial performance of European companies in the region.
The survey revealed that only 30% of respondents reported higher profit margins in China compared to their global average, marking an eight-year low. This number was similar to the situation in 2016, where 24% of respondents mentioned better profit margins in China than globally.
Meanwhile, the Chinese National Bureau of Statistics is set to unveil data on fixed asset investment, industrial production, and retail sales for April next Friday.
