Thailand’s SET Index closed at 1,464.17 points, decreased 1.87 points or 0.13% with a trading value of 32.80 billion baht. The analyst stated that the Thai stock market traded narrowly, with investors adopting a cautious approach leading up to the US presidential election on November 5. There was also speculation of stocks with favorable 3Q24 earnings reports.
The analyst expected the Thai market to trade narrowly next week up to November 5, with potential outcomes from the US election influencing market dynamics. In the event of Donald Trump’s win, the SET Index could face downward pressure, potentially sliding to 1,430 points. Conversely, a victory for Kamala Harris might propel the market to reach a peak of 1,500 points.
Thailand’s finance minister announced on Friday a set of measures aimed at addressing household debt, including a proposal for the suspension of interest payments and a 50% reduction in principal payments for delinquent debts ranging from one to 12 months.
Thailand’s Board of Investment (BOI) announced that it has greenlit new investments totaling $2 billion (66.9 billion baht) in data centers and electronics manufacturing. Additionally, the board reinstated several investment promotion packages and introduced relief measures tailored for promoted companies impacted by the recent floods in the North and Northeast regions of the country.
The Bank of Japan (BOJ) noted that the country’s increasing minimum wage is likely to drive up inflation, particularly through elevated service prices.
The central bank expressed confidence in the sustainable achievement of its 2% inflation target, emphasizing that continual and widespread wage hikes are essential prerequisites for considering an increase in interest rates from their existing near-zero levels.
The International Monetary Fund (IMF) issued a cautionary statement, highlighting the heightened risks to Asia’s economy stemming from escalating trade tensions, challenges in China’s property sector, and the potential for increased market volatility.
Finance leaders also expressed significant apprehension about the potential repercussions of a scenario where Donald Trump returns to power in the upcoming November 5 U.S. presidential election, with the increase on import tariff by 10% from all nations and 60% from China causing alarm among analysts
