Thailand’s SET Index closed at 1,444.25 points, increased 1.52 points or 0.11% with a trading value of 63.95 billion baht. The analyst stated that the Thai stock market exhibited a slight uptick, supported by the uptrend in crude oil prices, which consequently provided a positive outlook for energy-related stocks. Additionally, inflows from the Vayupak Fund helped mitigate downside risks in the market.
The analyst expected the market to trade sideways next week, with investors closely monitoring the release of US employment data, in which expectations point towards higher figures compared to the previous month’s data.
A major breakthrough was achieved on Thursday as the U.S. dockworkers union and the United States Maritime Alliance (USMX) announced a tentative agreement regarding wages, ending a disruptive strike that began earlier in the week, impacting East Coast and Gulf Coast ports.
The parties have extended their existing contract through January 15, 2025, allowing additional time to negotiate other aspects of a new contract.
The Bloomberg Billionaires Index showed Mark Zuckerberg’s net worth reached $206.2 billion, surpassing Jeff Bezos’ net worth of $205.1 billion, and following behind Elon Musk approximately by $50 billion.
Zuckerberg has a 13% stake in Meta Platform, a major contribution to his net worth that rose by $78 billion since January this year. It was considered the highest acceleration among any other 500 richest people listed in the Bloomberg Index.
Goldman Sachs analysts have raised concerns that oil prices might see a significant increase if Israeli retaliatory measures against Iran lead to disruptions in Iranian oil production.
Following a recent missile attack by Iran, there is heightened speculation about a potential Israeli response targeting Iran’s oil facilities. Such actions could propel oil prices higher by as much as $20 per barrel if Iranian production drops by one million barrels per day.
