Thailand’s SET Index closed at 1,404.28 points, increased 38.79 points or 2.84% with a trading value of 81.73 billion baht. The analyst stated that the Thai stock market surpassed the 1,400 benchmark on high trading volume, buoyed by clarifications regarding the Vayupak Fund set to launch in October, expected to attract inflows ranging from THB 100-150 billion. Additionally, the market benefited from the global shift towards investing in value stocks, abundant in the Thai and Indonesian markets, alongside the favorable valuations of Thai equities.
The analyst suggests that the Thai market may experience a minor initial decline before potentially extending gains in the upcoming trading session.
The annual headline inflation rate in Thailand decelerated in August, driven by a rise in food prices and a decline in energy prices.
The inflation rate stayed below the central bank’s targeted range of 1% to 3%.
Thailand’s headline CPI registered a 0.35% increase in August compared to the previous year. This comes after a 0.83% annual growth in July and slightly under the projected 0.40% surge in a Reuters survey. The ministry anticipates an uptick in inflation during September.
Thailand’s new government is set to move forward with the introduction of casinos, following a public hearing that garnered substantial backing for the establishment of a large entertainment complex featuring gambling activities.
Deputy Finance Minister Julapun Amornvivat revealed that 80% of participants in an online public hearing expressed support for a bill proposing the development of a “mega entertainment complex” incorporating a casino.
Hajime Takata, a member of the Bank of Japan’s policy board, emphasized the central bank’s commitment to gradually scaling back its longstanding accommodative policy measures if economic indicators track as expected.
Takata stated that modifying the level of monetary easing would be necessary if inflationary patterns are consistent with projections.
The Council of Europe human rights organization has announced that the world’s inaugural legally binding international AI treaty will be available for signing on Thursday.
The European Union, the United States, and Britain, who were involved in the negotiations, will have the opportunity to sign the AI Convention.
This treaty, developed over the course of several years and adopted in May following consultations with 57 countries, aims to address the potential risks associated with AI technology while promoting responsible innovation.
The Chief Executive Officer of a major supplier to Taiwan Semiconductor Manufacturing Co. (TSMC) has highlighted the potential for growth in the semiconductor industry driven by the demand for AI chips.
Hsu Ming-Chi of Scientech Corp. dismissed concerns that investors may have misjudged the pace and scale of investment in artificial intelligence, projecting a significantly higher growth rate for AI semiconductors compared to the overall chip market.
Hsu believes that the AI industry is just beginning to boom, with expectations of substantial growth for AI semiconductor sales to major companies.
