Thailand’s SET Index closed at 1,296.25 points, increased 5.70 points or 0.44% with a trading value of 36.24 billion baht. The analyst stated that the Thai stock market exhibited volatility, but still closed in the positive territory, as worries about a US economic downturn eased following indications from Federal Reserve officials that the sluggish jobs data did not indicate the likelihood of economic recession.
The decision by the Bank of Japan to halt a rate hike also alleviated some volatility related to the Japan Carry Trade (Reverse Carry Trade), while the gains in the Thai market were constrained.
The analyst expected the market to potentially slide tomorrow as the Japanese yen became volatile again after weakening in the morning session, potentially stirring concerns among investors.
Thailand’s Board of Investment (BOI) has approved incentives for joint ventures (JV) between Thai and foreign companies to manufacture automotive parts for vehicles utilizing all types of propulsion systems.
New projects and existing parts manufacturers transitioning into a JV structure are eligible for an additional two-year tax exemption, capped at eight years, provided they submit their applications by the end of 2025.
