Thailand’s SET Index closed at 1,282.09 points, increased 20.02 points or 1.59% with a trading value of THB 57.59 billion. The analyst stated that the Thai market rebound after having declined previously. The index received a boost from DELTA stock after the market learned that the Stock Exchange of Thailand would only utilize up to 10% in capped weight adjustment, while the capital that flowed out of DELTA is expected to flow into other major stocks. Furthermore, a stream of buyback in CPALL and purchase in GULF-INTUCH has bolstered the index.
The analyst stated that, next week, the Thai market is expected to rebound within the range in the short term, with investors monitoring the release of the United States’ non farm payrolls and unemployment rate slated for tonight, and China’s inflation rate on Sunday.
Kiatnakin Phatra (KKP) suggested that the Thai government should rethink their stimulus policy, as Thailand’s public debt will likely reach a 70% ceiling in the next two years, and pressure from global trade and the U.S. policy could threaten Thai exports.
The Reserve Bank of India slashed its key interest rate for the first time in almost five years, as easing inflation allowed headroom for economic stimulation.
The Monetary Policy Committee has shaved 25 basis points from its policy rate to 6.25%.
The U.S. has introduced another round of sanctions targeting individuals and tankers instrumental in transporting Iranian oil, aiming to cut off Tehran’s vital lifeline.
In addition, Trump also enacted sanctions against individuals connected to International Criminal Court (ICC) probes into United States citizens and their allies, including Israel, amid intense scrutiny over events in the Gaza Strip.
