Thailand’s SET Index closed at 1,297.79 points, increased 0.72 points or 0.06% with a trading value of 40.54 billion baht. The analyst stated that the Thai stock market traded narrowly as energy stock purchases counterbalanced the sell-off observed in stocks removed from the MSCI Indexes.
Investors closely monitored the court ruling on Prime Minister Srettha Thavisin’s case, anticipating its resolution the following day, despite positive sentiments stemming from the Finance Ministry’s announcement of plans to expand a state mutual fund’s size by an estimated 100-150 billion baht for investments in the local stock markets.
The analyst expected the market to continue trading narrowly, with expectations for the index to fluctuate within a range of up to 5 points. Moreover, the market could witness a significant uptrend if the Prime Minister retains his position.
Japan’s wholesale inflation picked up speed in July, marking the fastest year-on-year growth in 11 months. The surge was attributed to a weakened yen driving up import costs for commodities that were already on the rise.
The Bank of Japan reported that the Corporate Goods Price Index (CGPI), a gauge of prices companies charge for goods and services, climbed by 3% in July compared to the previous year, in line with market expectations. This pushed the index to a record high of 123.1 for the eighth consecutive month, accelerating from June’s 2.9% uptick.
Thailand is set to enhance the size of a state mutual fund by an estimated 100-150 billion baht for an investment in local stock markets, officials revealed on Tuesday in an effort to bolster support for the region’s weakest performing market this year.
Thailand’s cabinet has granted approval on Tuesday for the creation of a national credit guarantee agency (NaCGA) to bolster loan accessibility for small businesses.
The agency’s primary objective will be to offer financial risk assurances for smaller enterprises seeking funding from banks. The central bank has emphasized the urgent need for Thailand to enhance credit opportunities for small and medium-sized businesses (SMEs), which play a crucial role in the economy that is currently underperforming compared to neighboring countries.
