Thailand’s SET Index closed at 1,430.40 points, decreased 7.85 points or 0.55% with a trading value of 36.67 billion baht. The analyst stated that the Thai stock market exhibited a downward trend, following rising domestic and international concerns.
Domestically, concerns stem from reports on Sondhi Limthongkul, a former leader of the People’s Alliance for Democracy group, submitting a denial document of negotiation plans for the Thai-Cambodian overlapping area. Furthermore, the potential appointment of Kittiratt Na-Ranong as the Bank of Thailand’s chairman in the upcoming Cabinet meeting also prompted worries of interference in the bank’s operations.
Internationally, the strengthening of the US stock market following the selection of ministers in President-elect Trump’s administration has kept foreign capital from flowing back into the Thai market.
The analyst predicted a modest recovery in the Thai market tomorrow, with investors monitoring the announcement of PCE figures from the US. If the figures outperform expectations, it could prompt the US Federal Reserve to lessen interest rate cuts, thereby amplifying losses in the Thai market.
In October, Thailand saw a decline in its manufacturing production index with a fall of 0.91% year-over-year, as revealed by the nation’s industry ministry. This decrease was slightly less than experts had predicted in a Reuters survey, which anticipated a drop of 1.85% for October.
Thailand’s Deputy Prime Minister and Energy Minister, Pirapan Salirathavibhaga, disclosed that the Ministry of Energy will announce a reduction in electricity bills for the period spanning January to April 2025, decreasing from the current average of THB 4.18 per unit (observed from February to December 2024) to THB 4.15 per unit.
South Korea announced plans to amplify its financial aid for domestic chipmakers in the coming year, an attempt to secure an industry that may face adversities due to the expected policies of the forthcoming Trump administration and escalating competition from Chinese contenders.
President-elect Donald Trump designated Kevin Hassett to helm the National Economic Council, placing him at the heart of key policy deliberations ranging from trade to taxes and deregulation.
The announcement leaves only the U.S. trade representatives to finalize Trump’s economic lineup, while he also revealed that attorney Jamieson Greer would be appointed to the role of U.S. Trade Representative.
A looming peace in South Lebanon after Israel and Hezbollah, an Iran-backed group, both agree on the US and France’s peace deal.
After a year of deadly conflict along the Israeli-Lebanese border, which claimed thousands of lives, US President Joe Biden succeeded in convincing Israeli Prime Minister Benjamin Netanyahu, his security cabinet, and Lebanon’s Caretaker Prime Minister Najib Mikati to reach an agreement.
