Thailand’s SET Index closed at 1,298.29 points, decreased 5.53 points or 0.42% with a trading value of 37.89 billion baht. The analyst stated that the Thai stock market decreased following the selloff of stocks in the SET50 index from foreign investors despite a better catalyst outlook in the country. Bond yield declined after the US announced weak economic figures, while the Chinese economy received a positive outlook for recovery. Meanwhile, the Thai market was still pressured by political uncertainties.
The analyst expected the market to trade sideways tomorrow.
China opted to keep its benchmark lending rates unchanged on Thursday, aligning with the predictions of the market, with the one-year LPR remaining at 3.45% and the five-year LPR at 3.95%.
The decision to maintain the steady Loan Prime Rate (LPR) fixings indicates that Beijing’s attempts at monetary easing continue to face constraints due to narrowing interest rate margins and a depreciating currency.
The Swiss National Bank (SNB) has reduced its key interest rate by 25 basis points to 1.25%, aligning with expectations as global sentiment towards monetary policy easing remains uncertain. A Reuters poll of economists had predicted a 25-basis-point cut to 1.25%, with the majority anticipating this decision by the SNB.
Switzerland’s inflation rate held steady at 1.4% in May following an increase in April, with forecasts suggesting this level will be maintained throughout 2024. The SNB projects the country’s GDP, adjusted for sporting events, to reach 1.2% this year, benefiting from exports despite challenges such as low industrial production capacity utilization and high financing costs that may dampen investment activity.
