Thailand’s SET Index closed at 1,365.72 points, increased 1.41 points or 0.10% with a trading value of 43.08 billion baht. The analyst stated that the Thai stock market traded narrowly due to speculative stock sales, indicating reduced political uncertainties within the country.
Investors are closely monitoring the formation of the new cabinet and awaiting policy announcements that will follow.
The analyst expected the market to trade sideways tomorrow.
Thailand’s caretaker deputy finance minister, Paopoom Rojanasakul, highlighted on Wednesday that while there are signs of recovery, the country’s economic growth has not yet reached its full potential.
The caretaker mentioned at a business forum that Thailand is projected to achieve a growth rate between 2.3% and 2.8% this year.
Bank of Thailand Governor Sethaput Suthiwartnarueput stated that the Monetary Policy Committee makes decisions regarding interest rates based on the country’s economic outlook.
The central bank forecasts a 2.6% growth for this year, with an expected increase to 3% in 2025, noting an uneven recovery. Suthiwartnarueput expressed dissatisfaction with these figures, emphasizing the need for higher economic growth rates to improve living standards and welfare.
An index measuring monthly inflation in Australia showed a decrease in July, indicating a gradual alleviation of price pressures in the ongoing quarter, although not at a pace that would justify immediate interest rate reductions.
The consumer price index rose by 3.5% compared to a year ago, slightly lower than the previous 3.8% and just above the anticipated 3.4%.
Concurrently, the trimmed mean core measure, which excludes volatile items, increased by 3.8%, down from 4.1% in the previous month.
