Thailand’s SET Index closed at 1,319.15 points, increased 0.01 points or 0.00% with a trading value of 35.48 billion baht. The analyst stated that the Thai stock market traded narrowly, as there were no positive catalysts after the announcement of the supporting measures. Foreign investors also were also continuing the selloff of stocks, causing the market to be dull.
The analyst expected the market to trade narrowly tomorrow, while also potentially bearing chances to benefit from window dressing and short covering.
The Thai economy is predicted to grow in the latter part of the year, according to the minutes from the Bank of Thailand’s monetary policy meeting on June 12.
The central bank affirmed that the existing policy rate is in line with the expected rates of growth and inflation. The monetary policy committee, in a 6-1 vote during the meeting, decided to keep the one-day repurchase rate unchanged at 2.50% for a fourth consecutive meeting, while one member pushed for a quarter-point decrease.
Meanwhile, despite the anticipated expansion of the Thai economy in the latter half of the year, uncertainties persist, with risks becoming less tilted to the downside.
