Thailand’s SET Index closed at 1,440.46 points, decreased 22.02 points or 1.51% with a trading value of 41.51 billion baht. The analyst stated that the Thai stock market sharply decreased following the selloff of DELTA, as the company engaged in trading with a cash balance account for the first time post being directed by the Stock Exchange of Thailand.
Meanwhile, there was some purchasing power among other big-cap stocks, such as energy, power plant, and communication sectors, partially offsetting the decline.
The analyst predicted a potential rebound in the Thai market the following day, contingent on the trading activity of DELTA, which could either lead to recovery or further losses.
Prime Minister Paetongtarn Shinawatra expressed confidence during a recent business conference, emphasizing that the Thai economy is slated to expand by 2.7% this year, exceeding the previously projected growth for 2025. Credit for this growth surge is largely attributed to the estimated 28% annual increase in international tourists, predicted to hit the 36 million mark.
Outperforming the growth forecast for 2025, the country is poised to accelerate its government expenditure with a substantial 960 billion baht ($27.74 billion) funding.
Japan is preparing a new stimulus package valued at 13.9 trillion yen ($89.7 billion), aiming to ease the financial strain on households caused by rising prices.
This package will surpass last year’s 13.2 trillion yen plan, further straining Japan’s already stretched public finances, as the country’s debt now exceeds twice the size of its economy.
The European Central Bank (ECB) warned that ongoing high global trade tensions are now a significant risk to the euro area economy, while weak economic growth is now a bigger threat than high inflation.
Coupled with the aforementioned points, rising protectionism is also weighing on the global economy, impacting growth, inflation, and asset prices worldwide.
