Thailand’s SET Index closed at 1,319.14 points, increased 2.41 points or 0.18% with a trading value of 39.34 billion baht. The analyst stated that the Thai stock market increased as it was supported by the measures, aimed to bolster and expected capital inflows into the market. With reduced risks, the index could potentially see further gains.
The analyst expected the market to trade with volatility but trended positively, driven by a favorable momentum.
The United States is probing whether China’s major state-controlled telecommunications companies are transferring American data to Beijing via their US cloud services.
The Commerce Department is conducting an investigation into China Mobile Ltd., China Telecom Corp., and China Unicom, subpoenaing information from the three firms with risk-based analysts, but it was reported that the progress on Unicom only saw slight progress.
In May, the Federation of Thai Industries reported a 16.19% decrease in car production compared to the same period last year, with 126,161 units produced. This decline was primarily attributed to a reduction in the manufacturing of pickup trucks.
Compared to April’s 11.02% year-on-year decrease, the drop in May indicates a further slowdown in the industry. From January to May, car production in Thailand decreased by 16.88% year-on-year to 644,951 units.
