Thailand’s SET Index closed at 1,311.99 points, increased 10.95 points or 0.84% with a trading value of 32.90 billion baht. The analyst stated that the Thai stock market outperformed the regional markets, as it was supported by the rise of retail stocks, following the development of the digital wallet scheme, and the speculative buy of electronic component stocks, which was expected to report positive 2Q24 earnings. The lower-than-expected level of inflation in Thailand and the monetary policy framework led to an opportunity for the Monetary Policy Committee (MPC) to reconsider interest rate decisions, which supported yield play investment.
The analyst expected the market to barely move next week, as investors kept their eyes on the development of political uncertainties in the country.
A consensus is emerging among frustrated congressional Democrats urging President Biden to consider stepping aside after his recent lackluster debate performance against Republican challenger Donald Trump.
Meanwhile, despite facing mounting pressure from some Democrats, Biden has rebuffed suggestions to end his campaign, stating defiantly that he is “not going anywhere.”
Emmanuel Macron’s unexpected decision to call for snap elections has raised concerns about its implications for the Paris Olympics 2024, potentially leading to political turmoil and the rise of a far-right government during the world’s largest sporting event.
Scheduled to take place from July 26 to August 11, the Paris Summer Olympics 2024 will feature a total of 329 events, with approximately 10,500 athletes representing 184 countries.
Thailand’s consumer price index (CPI) or inflation figures for June increased by 0.62% YoY to 108.50, while the figure decreased by 0.31% compared to the level seen in May.
This figure fell short of the 1.12% forecast in a Reuters poll and remains below the central bank’s target range of 1% to 3%.
The U.K.’s opposition Labour Party secured a significant parliamentary majority in the recent general election, ending the Conservatives’ 14-year rule. In a historic turn of events, outgoing Prime Minister Rishi Sunak acknowledged defeat early on Friday as Labour crossed the threshold required to govern independently.
The center-left Labour Party, led by Keir Starmer, is set to assume power, with Starmer being declared the nation’s next prime minister following the victory announcement in the early hours.
