Thailand’s SET Index closed at 1,297.41 points, increased 0.82 points or 0.06% with a trading value of 38.01 billion baht. The analyst stated that the Thai stock market rebounded and was in line with the regional markets in the morning session but edged down to the 1,300 level again at the end of the trading session.
The market was pressured by the speculative sales after the Constitutional Court delayed the consideration of the Move Forward Party case and Prime Minister Srettha Thavisin case, shifting the date of consideration to be in July. This caused the market to continuously be pressured by political uncertainties in the country, while the recovery of long-term equity funds (LTF) was also unclear and slowed down.
The analyst expected the market to technically decrease tomorrow.
A Chinese official criticized Europe’s investigation into Chinese electric cars, claiming it lacked credibility due to being overly selective.
The European Commission recently announced plans to impose tariffs on imported Chinese electric vehicles from July 4 after conducting a lengthy probe into the impact of Chinese government subsidies on EVs.
Publicly opposing the EU’s actions, China has refuted accusations of industrial overcapacity jeopardizing manufacturers in foreign nations, potentially leading to closures and job losses.
Former Thai Prime Minister Thaksin Shinawatra, a prominent supporter of the current government, has been formally charged on Tuesday for purportedly insulting the monarchy in a media interview from 2015, as confirmed by a spokesperson for the attorney-general’s office.
This marks the commencement of one of four significant legal cases involving key political figures being addressed in court, potentially ushering in a new period of uncertainty for Southeast Asia’s second-largest economy.
Thaksin has refuted any allegations of misconduct while the court later allowed him to be on bail with a cost of THB 500,000.
Bank of Japan Governor Kazuo Ueda has left the possibility of an interest rate increase in July open, despite market doubts following the announcement of a forthcoming reduction in bond buying as part of quantitative tightening measures.
Ueda emphasized that the reduction in bond purchases and a policy rate hike are distinct matters, with the decision on a rate hike depending on economic data, inflation levels, and financial conditions.
