Thailand’s SET Index closed at 1,469.72 points, increased 2.30 points or 0.16% with a trading value of 55.53 billion baht. The analyst stated that the Thai stock market rebounded from a notable decline witnessed in the previous trading session. The upturn was attributed to the increased demand for defensive stocks and the positive performance of the banking sector, which provided support to the overall market sentiment.
The analyst expected the Thai market to trade sideways tomorrow while investors monitored the resolution of the US Federal Reserve’s meeting scheduled for tonight.
Thailand is contemplating the introduction of additional incentives to entice multinational corporations seeking to mitigate the impact of the escalating US-China trade conflict, which is anticipated to heighten following Donald Trump’s reelection victory.
Japan Prime Minister Shigeru Ishiba is working on arranging a visit to the United States later this month, after the G20 summit in Brazil on November 18-19, to meet with U.S. President-elect Donald Trump, in fears of potential protectionist trade measures that could affect Japan.
China’s exports soared by 12.7% in October, outpacing the expected 5.2% growth, while imports took a nosedive by 2.3%, marking a steeper decline than the anticipated 1.5%. The country’s custom agency reported the figures on Thursday.
Chancellor Olaf Scholz of Germany announced that he had dismissed Finance Minister Christian Lindner, effectively ending their three-year-old ruling coalition and opening the door to a snap election.
Joe Biden planned to rush out billions of dollars in assistance to Ukraine before Donald Trump took office after the January 20 inauguration, aiming to put Ukraine in the strongest position before his term ends in January.
The Federal Reserve is anticipated to conclude its meeting on Thursday with an additional interest rate reduction, as financial markets are strongly indicating.
The central bank’s Federal Open Market Committee is likely to implement a 0.25 percentage point cut to adjust its policy in response to a more intricate economic environment characterized by moderating inflation and weakening labor market conditions.
