Thailand’s SET Index closed at 1,450.12 points, decreased 1.35 points or 0.09% with a trading value of 59.32 billion baht. The analyst stated that the Thai stock market faced a decline amidst a period of base adjustment, potentially reaching as low as 1,410 points. This downward trend was influenced by the depreciation of the Thai baht due to uncertainty surrounding the Asian economy post the US presidential election. Consequently, there was a sell-off of stocks for risk management, coupled with investor wariness of substantial sales of large-cap stocks.
The analyst expected the Thai market to trade sideways tomorrow.
The latest data on the US CPI met expectations, depicting a slight increase which resulted in an annual inflation rate of 2.6%. Core CPI, which excludes volatile food and energy prices, experienced a 3.3% surge in the previous month, in line with analysts’ expectations.
The data indicate a potential interest rate reduction by the Federal Reserve in the upcoming month, with the probability of a 0.25% cut currently standing at 80.8%, as indicated by the CME FedWatch Tool.
Gold prices saw a fall to a level near a two-month low in response to the risk-on sentiment and strengthening US dollar, after Donald Trump’s election victory last week.
This downturn comes after a series of record-breaking peaks for the yellow metal over the past year. Citi’s global head of commodities research, Maximilian Layton, suggested a pause in the bull market for both gold and silver could persist for the coming weeks.
Global EV and plug-in hybrid sales saw a sharp increase by 35% in October with total sales reaching 1.72 million units, the data from market research firm, Rho Motion, showed.
China led the global market, setting a record with 1.2 million units sold, reflecting a 54% surge. The country’s EV market remains strong as it enters the final stretch of the year, a period typically marked by peak sales.
In North America, EV sales grew by 11.4%, reaching 160,000 vehicles in the United States and Canada.
