Thailand’s SET Index closed at 1,455.03 points, decreased 6.55 points or 0.45% with a trading value of 56.09 billion baht. The analyst stated that the Thai stock market slightly decreased following the profit-taking sales of stocks after receiving gains for a period and getting positive sentiment from Chinese stimulus measures. The investment in the market slowed down as investors awaited the speech from the US Federal Reserve coming tonight.
The analyst expected the market to trade sideways tomorrow, as traders monitored GDP and PCE data from the US.
China’s government announced a one-time cash allowance for individuals in extreme poverty, following a series of stimulus measures by the central bank aimed at bolstering the economy.
The Ministry of Civil Affairs revealed that the subsidy would be offered to those categorized as “extremely poor people, orphans, and other needy individuals” as part of the 75th anniversary of the founding of New China.
Minutes from the Bank of Japan’s July meeting revealed a split among policymakers regarding the pace of future interest rate increases, reflecting uncertainty surrounding the timing of the next hike in borrowing costs.
While some board members advocated for further rate hikes to be implemented promptly and methodically to prevent a rushed increase later on, others emphasized the need to wait for confirmation of increased capital expenditure, wages, and prices by firms before raising rates.
