Thailand’s SET Index closed at 1,286.74 points, decreased 14.28 points or 1.10% with a trading value of THB 42.22 billion. The analyst stated that the Thai market plunged due to pressure from the selloff of DELTA, as investors raised concerns about the utilization of the capped weight adjustments by the Stock Exchange of Thailand (SET). Meanwhile, the Thai market has shrunk by 11% over the past three months, showing a sharper decline compared to countries that were directly impacted by trade wars. This reflected investors’ waning confidence.
The analyst expected the Thai market to trade with volatility and could potentially exhibit a rebound, with limited upside.
Mr. Anutin Charnvirakul, Thailand’s Deputy Prime Minister and Minister of Interior, had visited the Provincial Electricity Authority (PEA) headquarters to oversee the electricity cut-off process at five locations connected to Myanmar following the order from the National Security Council (NSC).
This move aims to deter scams operating in border areas between Thailand and Myanmar after numerous reports of shady activities at the border, especially when Chinese actor Wang Xing was abducted and later rescued in January.
Amid escalating tensions in the ongoing trade dispute, the anticipated conversation between U.S. President Donald Trump and Chinese President Xi Jinping was scrapped on Tuesday. This decision came in the wake of China’s swift retaliatory move to impose tariffs on American imports, just moments after Trump’s administration announced fresh levies aimed at the Asian giant.
Additionally, in a joint press conference with Israeli Prime Minister Benjamin Netanyahu, Trump made a surprising announcement, pledging that the US would take over the Gaza Strip and focus on its economic development after Palestinians are resettled elsewhere.
Some analysts suggest that the U.K. might potentially capitalize on the ongoing U.S. trade conflicts. If the negotiations align favorably, Trump’s trade tensions could inadvertently aid the struggling British economy, potentially stimulating economic growth, as the U.K. is predominantly service-focused and exports mainly banking and consultancy services to the U.S.
