Thailand’s SET Index closed at 1,450.15 points, decreased 4.88 points or 0.34% with a trading value of 60.56 billion baht. The analyst stated that the Thai stock market exhibited a brief pause, following a climb of around 200 points from this year’s lowest levels, while investors awaited the announcement of August PCE figures from the US coming tonight.
The analyst expected the market to move within the range next week, as investors kept their eyes on US nonfarm payrolls.
China’s central bank announced its decision to reduce the reserve requirement ratio (RRR) by 50 basis points, marking the second reduction this year aimed at strengthening the weakening economic growth.
This action, coupled with adjustments in key interest rates and initiatives to support capital markets, seeks to invigorate economic activities amidst persistent deflationary challenges.
The PBOC specified that the RRR cut would apply to all banks, except those adhering to a 5% reserve ratio.
Top Chinese cities Shanghai and Shenzhen are reportedly set to lift significant remaining restrictions on home purchases, expecting to open up opportunities for buyers from various parts of China to invest in properties in these sought-after cities, where stringent controls were previously imposed to curb excessive speculation.
Former defense minister Shigeru Ishiba emerged victorious in the race to lead Japan’s ruling Liberal Democratic Party (LDP) on Friday, positioning himself to succeed incumbent Prime Minister Fumio Kishida as the nation’s next leader.
