Thailand’s SET Index closed at 1,320.86 points, increased 12.77 points or 0.98% with a trading value of 42.65 billion baht. The analyst stated that the Thai stock market increased following investor optimism stemming from expectations of a more relaxing stance by the US Federal Reserve. This sentiment was bolstered by the gradual US inflation approaching the central bank’s target, contributing to the positive sentiment across the Asian market.
Meanwhile, the Chinese market was on the lookout for stimulus initiatives from the government in response to three consecutive declines in the country’s PMI figures.
The analyst expected the market to potentially extend gains tomorrow.
The Bank of Japan has decided to elevate its benchmark interest rate to approximately 0.25%, up from its previous range of 0% to 0.1%. In addition to this adjustment, the central bank revealed its strategy to taper its bond buying program.
As part of this plan, the Bank of Japan disclosed that it intends to decrease the monthly outright purchases of Japanese government bonds to roughly 3 trillion yen per month during the January to March 2026 quarter. The institution specified that the amount will undergo a reduction of approximately 400 billion yen per quarter.
Euro zone headline inflation unexpectedly climbed to 2.6% in July, as reported by the European Union’s statistics agency on Wednesday. This rise occurred despite a slight easing in price growth within the services sector.
In June, inflation had dipped to 2.5% from May’s 2.6%. Economists surveyed by Reuters had projected July’s figure to remain unchanged at 2.5%.
The upcoming days will see investors evaluating how this new data could influence the European Central Bank’s stance on potential future interest rate adjustments. The ECB, which maintained rates in its recent meeting following a reduction in June, kept the possibility of another cut in September on the table.
