Thailand’s SET Index closed at 1,319.92 points, decreased 2.58 points or 0.20% with a trading value of 38.11 billion baht. The analyst stated that the Thai stock market traded sideways, as investors sold off stocks to mitigate short-term risks, following uncertainties in the market.
Meanwhile, investors also awaited the US Fed Chair Powell speech tonight, potentially bearing a high chance for the central bank to signal a dovish stance and essentially support the Thai market.
During a seminar on Tuesday, Bank of Thailand Governor Sethaput Suthiwartnarueput emphasized the uneven nature of Thailand’s economic recovery and the necessity for stronger growth prospects in the country.
He highlighted that Thailand’s potential economic growth rate of approximately 3% was deemed insufficient. The central bank’s economic forecasts stand at 2.6% growth for the current year and 3% for the following year, citing last year’s modest expansion of 1.9%, which trailed behind neighboring economies.
Sethaput stated that the central bank would closely monitor inflation levels and living costs to prevent them from rising excessively.
Republican presidential candidate Donald Trump expressed his belief that President Joe Biden would continue his White House race despite internal pressure from the Democrats to yield to a younger contender.
Trump emphasized that Biden would likely persist in the campaign due to his ego and the substantial support he garnered through delegate wins in the Democratic primary earlier this year, securing the party’s nomination.
