Thailand’s SET Index closed at 1,461.58 points, decreased 0.52 points or 0.04% with a trading value of 62.58 billion baht. The analyst stated that the Thai stock market experienced a minor decrease as it readjusted its base following a period of continuous gains. Profit-taking activities in energy stocks exerted pressure, prompting investors to shift focus towards ‘Yield Play’ stocks like BGRIM and GPSC.
The analyst foresees the market maintaining a sideways trajectory, with investors anticipating the release of US job data towards the end of the following week.
Thailand’s customs-cleared exports registered a significant 7.0% increase year-on-year in August, surpassing analysts’ projections. The growth exceeded the 5.8% forecast from a Reuters poll and followed July’s robust 15.2% surge.
Despite the appreciation of the baht, the Commerce Ministry remains optimistic about Thailand’s export performance in 2024, anticipating a 2% growth rate.
Australian consumer price inflation in August decreased to a three-year low of 2.7% annual rise, a decrease from 3.5% in July and in line with market expectations, due to government rebates on electricity and a decline in petrol prices. Meanwhile, core inflation reached its lowest level since early 2022, signaling a cooling of costs.
South Korea’s Finance Minister Choi Sang-mok announced that the main focus for the government’s policy is centered on addressing the deceleration of domestic demand, rather than the escalation of household debt.
He emphasized the short-term importance of the recovery of domestic demand and expressed his anticipation for the Bank of Korea to make a judicious decision following a recent interest rate reduction by the U.S. Federal Reserve.
