Thailand’s SET Index closed at 1,357.41 points, decreased 8.31 points or 0.61% with a trading value of 35.37 billion baht. The analyst stated that the Thai stock market declined following eight consecutive days of gains, in line with regional trends, influenced by Nvidia’s underwhelming performance in 2Q24. Additionally, investors opted to sell stocks to manage risks associated with the upcoming rebalancing of the MSCI index scheduled for the following day.
The analyst anticipates a further decline in the market on the subsequent day, attributed to base adjustments before a potential rebound.
U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone conversation in the coming weeks.
This update coincided with U.S. national security adviser Jake Sullivan’s visit to Beijing to meet with Wang Yi, China’s top diplomat. Both nations also mentioned an upcoming call between their military leaders.
In the midst of a fierce price battle, Chinese electric car companies are now intensifying competition in the realm of chip-powered technological advancements like driver-assist functions.
Nio and Xpeng have revealed their readiness to commence production using their internally developed auto chips. While many leading Chinese electric car manufacturers have previously utilized Nvidia chips, which have generated substantial quarterly revenue exceeding $300 million in the automotive sector, the tide is turning towards in-house chip solutions.
