Thailand’s SET Index closed at 1,365.07 points, decreased 12.46 points or 0.90% with a trading value of 60.03 billion baht. The analyst stated that the Thai stock market extended losses as the index was pressured by energy and banking stocks, particularly TOP. This led to a restrained market recovery.
Anticipating a potential market rebound in the upcoming week, the analyst noted that the Thai market had entered oversold territory and possessed an attractive market valuation. Investor sentiment was additionally buoyed by expectations of forthcoming stimulus proposals to be presented to the cabinet. Concurrently, market participants also kept a close watch on developments related to AIMC involving CPALL and CPAXT, while monitoring the release of the PCE figures from the U.S.
The Thai officials stated that Myanmar’s ruling junta has shared with neighboring countries its intentions to conduct elections next year, despite the intensifying civil unrest, potentially including the involvement of international observers as part of its plans.
China maintained its key lending rates on Friday amid efforts to nurture economic growth and stabilize a weakening yuan.
The People’s Bank of China (PBOC) left the one-year loan prime rate at 3.1% and the five-year rate at 3.6%, decisions in line with expectations from economists polled by Reuters.
The U.S. economy shows signs of growing much further than initially anticipated in the third quarter, expediting its economic expansion.
In the three months ending September, the annual GDP increased at a rate of 3.1%, exceeding the initial reading of 2.8%. Wall Street Journal’s economist poll also expects a smaller 2.9% growth.
The change in the U.S. administration to one under Donald Trump has already caused a stir in global economic policymaking. The Federal Reserve reduces the intensity of rate cuts and other countries’ central banks show caution in their rate policies.
Some have begun to adopt a highly conditional estimation for the economic effect of Trump’s policies into their forecast in the recent meeting.
Republicans broke with Donald Trump as many voted against his endorsed bill to fund the government for three months and suspend the debt ceiling for two years.
A total of 38 Republicans joined forces with most Democrats, except for three, to vote against their party’s leaders. This left House Speaker Mike Johnson unable to move forward, given the significant opposition within his own party.
Meanwhile, on the other hand, the U.S. President-elect Donald Trump issued a stern warning to the European Union, demanding that the trade imbalance between the EU and the U.S. be addressed through significant purchases of American oil and gas, or risk facing tariffs.
