Thailand’s SET Index closed at 1,450.82 points, decreased 3.94 points or 0.27% with a trading value of 37.95 billion baht. The analyst stated that the Thai stock market traded sideways after experiencing a significant surge in the previous session. Profit-taking activities were observed in today’s trading session following the uptrend in certain stocks yesterday. In the meantime, market participants are eagerly anticipating the release of the US nonfarm payrolls report scheduled for this Friday to gain insights into the Federal Reserve’s upcoming interest rate decision. The Thai market will be closed on Thursday in observance of a public holiday.
The analyst expected the Thai market to trade narrowly on Friday.
Following the meeting between Nvidia CEO Jensen Huang met with Paetongtarn Shinawatra, Prime Minister of Thailand, on December 3, 2024 at the Government House, the tech giant’s CEO disclosed at the AI Vision for Thailand event hosted by Siam.AI CLOUD on December 4, emphasizing the significance of artificial intelligence (AI) in Thailand.
Huang emphasized that countries cannot progress without artificial intelligence, commending Siam.AI for enabling Thai people to access AI technology through the development of Open Thai GPT. By breaking down the language barrier to technology access, this initiative allows the Thai people to utilize AI in their native language.
Despite the new export controls imposed by the US, Chinese chip companies have pledged to accelerate efforts to localize supply chains and highlighted their equipment stockpiles, which they believe will enable them to continue production.
Many Chinese chip firms have been stockpiling equipment since last year, causing the opposite effect from what the US intended. China’s imports of semiconductor equipment for the first nine months have increased to $24.12 billion.
The Organisation for Economic Cooperation and Development (OECD) projected steady growth in the global economy over the next two years, barring any resurgence in protectionism that could impede the recovery in global trade, forecasting a 3.2% growth in the world economy for this year and 3.3% for 2025 and 2026, with factors such as lower inflation, job creation, and interest rate cuts counterbalancing fiscal tightening in certain nations.
