Thailand’s SET Index closed at 1,364.60 points, increased 10.96 points or 0.81% with a trading value of 42.26 billion baht. The analyst stated that the Thai stock market outperformed regional markets due to increased clarity surrounding the establishment of a new cabinet, which is anticipated to accelerate the implementation of economic stimulus measures. However, there remains a concern over potential profit taking in the upcoming trading session.
China’s housing market is expected to remain weak despite various government stimulus measures that have not been effective in supporting the sector.
JPMorgan stated that the housing market crash is ongoing, with home prices not likely to stabilize until at least 2025.
Recent data from China Index Academy revealed that the average price for new home sales in 100 Chinese cities saw a slight increase of 0.11% from July, indicating a further slowdown compared to June’s 0.13% growth.
Thailand’s Prime Minister, Paetongtarn Shinawatra, disclosed that a portion of the government’s highly-touted 450 billion baht ($13.1 billion) “digital wallet” stimulus package will now be disbursed in cash, marking a shift in its flagship populist initiative.
The exact distribution details are still being finalized and are set to be revealed in a forthcoming policy declaration to parliament.
