Thailand’s SET Index closed at 1,435.53 points, increased 11.14 points or 0.78% with a trading value of 61.02 billion baht. The analyst stated that the Thai stock market traded positively and was in line with the Asian markets. This positive trend was attributed to speculations surrounding rate cuts by the Federal Reserve during the week, indicating a potential end to the cycle of rate hikes.
Additionally, China’s announcement of forthcoming economic stimulus measures contributed to market optimism. The introduction of the Vayupak Fund also generated a sense of positivity, evidenced by its initial booking activity.
The analyst expected the Thai market to continue growing tomorrow.
Thailand is anticipating that less than 40 million individuals will enroll in its primary digital wallet handout initiative, with the initial phase slated to benefit 14.5 million vulnerable citizens starting from September 25.
The second phase of the handout is anticipated to roll out in early next year, providing further support to eligible recipients.
Goldman Sachs and Citigroup have revised down their full-year forecasts for China’s economic growth to 4.7% in response to a sluggish industrial output in August, which hit a five-month low.
The weaker economic performance in August has raised concerns about China’s gradual economic recovery and underscored the necessity for additional stimulus efforts to boost demand. As a result, global brokerages have adjusted their 2024 projections to below the government’s target of approximately 5%.
Republican presidential candidate Donald Trump was unharmed on Sunday after the Secret Service prevented what the FBI described as an apparent assassination plot while he was golfing at his West Palm Beach course in Florida.
Secret Service agents identified and fired at a gunman hidden in bushes near the golf course’s property line, just a short distance from where Trump was playing.
