Thailand’s SET Index closed at 1,353.64 points, decreased 5.43 points or 0.40% with a trading value of 33.17 billion baht. The analyst stated that the Thai stock market traded within the range after acknowledging substantial catalysts, while investors anticipated new developments, particularly the establishment of the new cabinet and the implementation of economic stimulus initiatives.
The analyst expected the market to trade sideways tomorrow.
Thailand’s manufacturing industry maintained its growth trajectory in August, but the expansion slowed down compared to the previous month, based on an estimate from S&P Global.
The manufacturing Purchasing Managers’ Index (PMI) dropped to 52.0 from 52.8 in July.
Key components contributing to the PMI included new orders, output, and employment, with these factors accounting for 75 percent of the overall score. Suppliers’ delivery times were deemed neutral, while stocks of purchases continued to have a negative impact for the eleventh consecutive month.
A recently conducted private-sector survey revealed that Japan’s factory activity contracted at a reduced rate in August, mainly attributed to a resurgence in both output and new orders.
The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) climbed to 49.8 in August from 49.1 in July, surpassing the 49.5 initial estimate. Despite this improvement, the index remained below the growth threshold of 50.0 for the second consecutive month.
China’s manufacturing sector experienced a downturn in August, reaching a six-month low as factory gate prices dropped, and business owners grappled with order declines.
This situation places pressure on policymakers to continue implementing strategies to channel more stimulus towards households.
The purchasing managers’ index decreased to 49.1 from 49.4 in July, marking the sixth consecutive decline and the fourth successive month beneath the 50-point threshold denoting a contraction. This figure fell short of the 49.5 median projection in a Reuters poll.
