Thailand’s SET Index closed at 1,365.49 points, increased 0.89 points or 0.07% with a trading value of 38.94 billion baht. The analyst stated that the Thai stock market outperformed international markets, particularly the US and Asian markets, which experienced declines. Notably, Southern Asian markets surpassed their Northern counterparts as investors shifted focus from growth stocks to value stocks.
The analyst expected the Thai market to trade sideways tomorrow.
Stocks in Wall Street took a sharp decline on Tuesday as technology companies faced difficulties and fresh economic indicators reignited worries about the state of the economy.
Chip stocks exerted a downward pressure on the market, particularly impacting high-performing companies like Nvidia, which witnessed a significant drop of over 9%. Other semiconductor manufacturers such as Micron, KLA, and Advanced Micro Devices also experienced declines during the trading session.
The Thai King has officially endorsed Prime Minister Paetongtarn Shinawatra’s cabinet to administer the kingdom’s affairs.
Paetongtarn Shinawatra was officially appointed on August 16, 2024, as Thailand’s 31st Prime Minister.
