Thailand’s SET Index closed at 1,324.76 points, increased 4.97 points or 0.38% with a trading value of 44.63 billion baht. The analyst stated that the Thai stock market increased and traded within the range following the speculative-buy of bank stocks ahead of the announcement of 2Q24 earnings. Meanwhile, electronic stocks edged lower due to concerns over an escalation of trade wars between the US and China.
The analyst expected the market to trade sideways tomorrow.
The United States is contemplating the introduction of Foreign Direct Product Rules (FDPR) to enhance restrictions on semiconductor exports to China. This consideration arises from the perceived lack of stringent measures taken by allied companies, allowing China continued access to advanced technologies.
The European Central Bank is anticipated to keep interest rates unchanged this week following a reduction in June, marking its first rate cut since September 2019. This decision is being made against a backdrop of lingering uncertainty surrounding inflation dynamics, particularly emanating from the labor market, which has tempered the central bank’s inclination towards swift rate adjustments.
Given the absence of fresh quarterly data such as GDP, compensation, and labor productivity metrics, the Governing Council of the ECB will have to rely predominantly on survey data to inform their decision-making process.
