Thailand’s SET Index closed at 1,362.97 points, decreased 24.75 points or 1.78% with a trading value of 46.86 billion baht. The analyst stated that the Thai stock market slumped and was in line with the Asian markets as investors sold off stocks to mitigate risks from uncertainties regarding Trump’s tariff policies. The index also faced pressures from the appreciation of the US dollar and an increase in bond yields, which impacted risk assets negatively.
The analyst expected the Thai market to trade sideways tomorrow.
Bank of Thailand (BOT) Assistant Governor Sakkapop Panyanukul expressed no concerns on the current inflation outlook as the bank is directing its monetary policy efforts towards maintaining financial stability and fostering economic growth, especially amid increasing uncertainties.
He also mentioned that the bank would remain cautious with data interpretation and prioritize trend analysis while preparing for scenario-based assessments.
In December, China’s consumer prices growth remained sluggish in 2024, while deflation in factory prices also entered its second year as the economy continued to falter.
The consumer price index was crawling at 0.1%, retracting from November’s 0.2% increase and has become the weakest pace since April. Although, the number was in line with Reuter’s economists poll.
China also criticized the European Union’s measures designed to shield European businesses from foreign subsidies, labeling them as trade and investment barriers. This development is the latest in the continuing trade tensions between China and the EU.
Yoon Kab-keun, a lawyer for South Korea’s impeached President Yoon Suk Yeol, announced that Yoon would accept the Constitutional Court’s decision if it decided to remove him from office.
President Joe Biden’s team is set to impose another layer of restrictions on exporting AI chips, reportedly targeting companies such as Nvidia Corp. This move underscores a concerted effort to prevent China and Russia from acquiring advanced technological capabilities.
Wall Street’s leading financial institutions have revised their forecast on when the Federal Reserve’s endeavor to reduce its balance sheet will conclude. Meeting minutes from the Fed’s recent policy gathering reveal this shift, following input from banks prior to December’s discussion.
Initially expected by May, banks now anticipate the conclusion of the balance sheet reduction process, referred to as quantitative tightening (QT), by June this year.
