Thailand’s SET Index closed at 1,394.67 points, increased 7.76 points or 0.56% with a trading value of 30.44 billion baht. The analyst stated that the Thai stock market extended gains, pushing close to the 1,400-point mark, boosted by government stimulus announcements. Trader enthusiasm during the Santa Rally further contributed to the market uptrend, coupled with traders covering their short positions on several stocks that saw share prices plummet, such as CPAXT, CPALL, and TOP.
The analyst expected the Thai market to trade sideways tomorrow.
Thailand’s Cabinet approved several economic measures, including a new minimum wage increase starting January, tax incentives to encourage spending, and the continuation of its flagship handout program. Prime Minister Paetongtarn Shinawatra shared expectations of economic growth exceeding 3% in the upcoming year.
Thai automotive production took a hit in November, declining by 28.23% year-on-year to 117,251 vehicles. This continues the downward trend following a 25.13% decrease in October, marking the 16th consecutive month of reduced output.
Chinese authorities are poised to issue an unprecedented 3 trillion yuan ($411 billion) in special treasury bonds next year, marking a significant fiscal stimulus effort as Beijing aims to invigorate a sputtering economy.
The US has launched an investigation into legacy Chinese semiconductors, highlighting concerns over non-market policies and practices that harm competition and create risky supply chain dependencies.
This action intensifies pressure on China’s semiconductor industry and could potentially affect products ranging from household appliances to defense systems.
On the other hand, Donald Trump’s presidential transition team is preparing for the United States withdrawal from the World Health Organization as soon as the first day of Trump’s administration.
