Thailand’s SET Index closed at 1,351.52 points, increased 1.69 points or 0.13% with a trading value of 43.79 billion baht. The analyst stated that the Thai stock market rebounded in the afternoon session following a positive sentiment as the Thai PM was set to invite Amazon for an investment in a data center in Thailand, as well as positive sentiment from Google’s investment in Malaysia. Meanwhile, concerns over the persistence of high interest rates from the US Federal Reserve still put some pressure on the market.
The analyst expected the market to slightly increase tomorrow, as investors monitored PCE figures from the US and PMI data from China.
Thailand’s manufacturing production index saw an unexpected increase of 3.43% in April compared to the same period last year, attributed to heightened exports and tourism, as reported by the industry ministry on Thursday.
This figure stands in contrast to a projected 1.1% year-on-year decline for April in a Reuters survey, and marks a recovery from the 5.13% decrease recorded in March.
Goldman Sachs Group Inc. has identified India’s stocks, bonds, and currency as highly attractive investment opportunities within the realm of emerging markets. The vibrant economy and resilient policies that insulate the country from global market fluctuations are key factors contributing to this assessment.
Analysts at Goldman Sachs stated that strong earnings growth is bolstering the stock market, while India’s inclusion in international indexes, robust government finances, and moderating inflation levels are favorable for fixed-income investments. Additionally, the ample foreign exchange reserves make the Indian rupee a preferred choice for carry trades.
India is currently undergoing two significant developments. Prime Minister Narendra Modi is vying for a third term in office in the ongoing elections. Furthermore, the nation’s sovereign bonds are poised to be included in JPMorgan Chase & Co.’s flagship emerging market bond index in late June, potentially attracting up to $40 billion of foreign capital. This move is expected to boost the country’s investment landscape, which has historically aimed to shield itself from volatile capital flows.
