Thailand’s SET Index closed at 1,379.85 points, decreased 20.36 points or 1.45% with a trading value of 36.85 billion baht. The analyst stated that the Thai stock market decreased sharply due to concerns surrounding the maturity of a large batch of long-term equity funds (LTF) on January 1, 2025 and the sell-off of DELTA linked to the 15% Global Minimum Tax implementation, with GULF also following suit.
The analyst deemed the market reaction as overly panicked, anticipating potential volatility in the upcoming trading session tomorrow.
Tourist numbers in Thailand in the 52nd week of 2024 (23-29 December) showed a notable increase of 6% week-on-week and a 19% rise year-on-year, averaging 135,000 visitors per day, marking the highest weekly figure since the downturn caused by the COVID-19 pandemic, aligning closely with pre-COVID statistics.
The minutes at the meeting of the Bank of Thailand’s board members in December showed that 2025 will be a challenging year with the uncertainty of Trump’s policy and prolonged war. Still, Thailand is expected to exhibit a 2.9% growth in 2025 with tourism taking the lead.
Additionally, Thailand’s government is pushing for a swift resolution in selecting a new chairman for the central bank following the disqualification of the previous nominee, former finance minister Kittiratt Na-Ranong, due to political affiliations.
China’s manufacturing activity grew slower in December, as anticipation builds for further economic stimulus with Donald Trump poised to return to the White House, threatening tariffs on Chinese exports.
The Caixin manufacturing PMI dropped to 50.5 from 51.5 in November, a result that fell short of the 51.7 forecasted by economists.
South Korea revised its 2025 economic growth forecast down to 1.8% from previous projections of 2.2% and 2.6%. The downgrade reflects ongoing challenges, including weak private consumption, slowing export momentum, uncertainties related to President Yoon Suk Yeol’s impeachment and the potential economic impact of Donald Trump’s tariff plans.
