Thailand’s SET Index closed at 1,274.01 points, decreased 0.66 points or 0.05% with a trading value of 38.23 billion baht. The analyst stated that the Thai stock market edged down following the pressure from stocks sale offs despite the rebound in the morning session. This was in line with the Asian and European markets, as stock markets were still concerned about the potential recession in the US, while the domestic catalysts were still overhanged.
The analyst expected the Thai market to trade sideways tomorrow.
John Schulman, a co-founder of OpenAI, announced on Monday that he would be parting ways with the Microsoft-backed organization to join Anthropic, an artificial intelligence startup backed by Amazon.
The move occurred shortly after OpenAI’s disbandment of a superalignment team, which aimed to ensure human control over AI systems surpassing human capabilities in various tasks.
Data reveals that Japan experienced a significant rise in inflation-adjusted real wages in June, marking the first increase in over two years, as nominal pay also surged at the quickest rate in nearly 30 years.
This development supports the central bank’s assertion that wage growth is becoming more widespread.
In June, real wages grew by 1.1%, breaking a 27-month streak of decline, while nominal wages, reflecting the average total cash earnings per worker, spiked by 4.5% to 498,884 yen ($3,480) – the fastest growth rate since January 1997.
A landmark ruling on Monday found Google guilty of breaching antitrust regulations, with the tech giant reportedly funneling billions of dollars into establishing an unlawful monopoly and solidifying its position as the primary global search engine.
This decision marks a significant victory for federal authorities challenging the market supremacy of Big Tech corporations.
In Thailand, consumer confidence has experienced a continuous decline for the fifth consecutive month, reaching its lowest level since August of last year in July. This drop is attributed to apprehensions surrounding a sluggish economic recovery, escalating living costs, and political instability, as indicated by a survey released on Tuesday.
The consumer index dropped to 57.7 in July from 58.9 in the prior month. The survey reported that consumers expressed worries regarding potential political unrest and the gradual economic recuperation, which lacked evident stimulus measures.
Australia’s central bank opted to maintain interest rates unchanged on Tuesday, aligning with market expectations, while emphasizing its willingness to consider various measures to manage inflation. This decision resulted in a slight reduction in the likelihood of a rate cut in November among investors.
At the conclusion of its August meeting, the Reserve Bank of Australia (RBA) retained the interest rate at a 12-year peak of 4.35%, underlining the necessity for policy to be adequately restrictive to steer inflation back toward the target range.
