Thailand’s SET Index extended losses from yesterday by dropping 0.6% to 1,379.35 points in the morning session on Thursday amid concerns in the global market of the U.S. Fed delaying interest rate cut further due to inflation concerns.
The SET Index settled lower on Wednesday, declining by 0.23% to 1,387.72 points.
Major indices in Asia Pacific traded lower on Thursday as concerns were raised among investors about the Federal Reserve potentially postponing policy adjustments due to inflation concerns, following the prospects of President-elect Trump’s policies.
Additionally, subdued consumer price growth in China also added to the negative market sentiment.
China’s inflation figures for December revealed a marginal 0.1% increase in the consumer price index compared to the previous year. Concurrently, the producer price index continued its downward trend, falling by 2.3% year-on-year for the 27th consecutive month.
Daol Securities has released their analysis today, predicting a downward trend in the stock index. Investors are seen waiting for new positive developments and are engaging in daily switching of stocks, which has led the index to remain stagnant without significant movements.
External factors remain largely negative, while domestic elements are starting to come into play as the speculation for 4Q24 financial results begins. Initially, the focus is expected to be on banking stocks. Meanwhile, the retail sector is anticipated to continue supporting the market, preventing any major declines.
