Thailand’s SET Index closed at 1,451.47 points, increased 6.40 points or 0.44% with a trading value of 45.86 billion baht. The analyst stated that the Thai stock market traded sideways post an earlier phase of base adjustment. Notable buying activity surfaced in the Thai bond yield, hinting at a resurgence of foreign investors into the Thai market.
The analyst foresees domestic-related stocks delivering robust performances towards the end of the third quarter of 2024 earnings announcements, potentially mitigating market fluctuations, with expectation for a stable groundwork to be laid in the market to sustain a growth trajectory.
Finance Minister Pichai Chunhavajira highlighted that the government is strategizing for an economic expansion of 3.5% by 2025, up from this year’s anticipated growth of 2.7%, with plans to consider augmenting stimulus measures and rolling out the second phase of its ambitious $14 billion handout scheme.
Shigeru Ishiba, Japan’s Prime Minister, unveiled a significant initiative to bolster the nation’s semiconductor and artificial intelligence sectors, with a proposal to commit over 10 trillion yen ($65 billion) by the end of fiscal 2030, aiming to recapture its earlier global supremacy in chip production.
China’s Taiwan Affairs Office criticized the United States for ordering Taiwan Semiconductor Manufacturing Co (TSMC) to cease shipments of advanced chips to some Chinese clients. The move is seen as a ploy by the U.S. to manipulate the “Taiwan card” in order to heighten tensions in the Taiwan Straits.
President-elect Donald Trump released a statement on his social media Truth, appointing Elon Musk, Tesla’s CEO, and Vivek Ramaswamy as the leaders of the Department of Government Efficiency (DOGE), to create a smaller government, with less bureaucracy and more efficiency.
