Thailand’s SET Index closed at 1,460.11 points, increased 7.33 points or 0.50% with a trading value of 46.00 billion baht. The analyst stated that the Thai stock market exhibited an upward trend in tandem with the regional markets, following the inflows from foreign investors into the Asian markets. Currencies in the region were also back to the appreciation path after the US dollar started weakening, bolstering the Thai baht and enhancing the overall performance of the Thai market.
The Thai market saw significant purchases in big-cap stocks, coupled with a positive sentiment from additional stimulus measures announced by the government, underlining expectations for sustained economic growth in Thailand.
The analyst expected the Thai market to trade sideways within range tomorrow, while investors monitored supporting catalysts.
Thailand’s future economic forecast seems brighter following an in-depth dialog with finance minister Mr. Pichai Chunhavajira at a Thailand Outlook meeting held by Maybank Securities Thailand. The dynamic conversation covered subjects ranging from financial relief measures for low-income citizens to prospective tax adjustments, all designed to spur national growth.
Thailand’s economic stimulus committee chaired by Prime Minister Paetongtarn Shinawatra has given the green light to disburse THB 10,000 in cash to individuals aged 60 and above. The recipients must be registered through the ‘Thang Rath’ application and verify their identity through the KYC system.
China is ramping up efforts to establish robust economic bonds with Latin America, aiming to increase trade and gain a stronger foothold in the resource-laden region.
President Xi Jinping inaugurated a Cosco-owned major port that cost $3.5 billion, setting up a direct shipping route between Shanghai and Chancay, a Peruvian city.
The International Monetary Fund (IMF) cautioned that retaliatory tariffs may negatively impact Asia’s economic outlook, increasing expenses and causing disruptions in supply chains, despite anticipating the region to continue being a crucial driver of global economic growth.
This came amid apprehensions concerning US President-elect Donald Trump’s plans to impose a 60% tariff on Chinese exports and 10% on other nations.
