Thailand’s SET Index closed at 1,453.03 points, decreased 10.39 points or 0.71% with a trading value of 45.93 billion baht. The analyst stated that the Thai stock market decreased in tandem with the Asia markets, following the profit-taking sales of DELTA. The appreciation of the US dollar prompted an outflow of funds from foreign investors.
The analyst expected the Thai market to potentially rebound within a limited range tomorrow, as emerging markets lack supporting catalysts.
Thailand’s exports showed a third consecutive monthly increase in September, with the figure increasing by 1.1% year-on-year, although below projections of 2.85% growth. Meanwhile, imports saw a growth of 9.9% compared to a year earlier, surpassing the expected 6.0% increase from the poll. This resulted in a trade surplus of $0.39 billion in September, lower than the predicted surplus of $1.54 billion.
The commerce ministry anticipates a continued uptrend in shipments during the final quarter of 2024.
Japan faces political turmoil after its ruling coalition lost its majority in Monday’s election.
Prime Minister Shigeru Ishiba, along with his Liberal Democratic Party (LDP) and its junior coalition partner Komeito, secured only 215 seats in the lower house of parliament — 64 seats fewer than in the previous election.
Meanwhile, the election’s biggest winner appears to be the LDP’s main rival, the Constitutional Democratic Party of Japan (CDPJ), which gained 148 seats—a 50-seat increase from the previous election—although it still fell short of a majority.
The People’s Bank of China (PBOC) initiated a new lending mechanism on Monday to infuse more liquidity into the financial system and facilitate credit flow in preparation for the imminent maturity of trillions of yuan in loans by the year-end.
The central bank announced the activation of the open market outright reverse repo operations facility to ensure a sufficient level of liquidity in the banking system and diversify the central bank’s range of policy tools.
