Thailand’s SET Index closed at 1,257.48 points, increasing 1.00 point or 0.08% with a trading value of THB 47.36 billion. The analyst stated that the Thai market traded sideways following pressures from DELTA. Excluding the negative sentiment from DELTA, the market could grow by around 7-8 points.
Meanwhile, as domestic factors remained sour and the U.S. exchange closed for a public holiday, the market lacked new supporting catalysts.
For tomorrow, the analyst expected the movements in the Thai market to depend on earnings reports from listed companies, while investors monitored CPAXT’s 2024 report slated to be released later today.
Thailand’s Prime Minister Paetongtarn Shinawatra has advocated for harmonious efforts between fiscal and monetary authorities to accelerate growth amid concerns over economic expansion falling below expectations.
In an effort to stimulate the economy, her administration has sanctioned increased fiscal expenditure and distributed substantial financial aid to vulnerable groups, both to alleviate living expenses and to garner political favor.
The banking system’s NPL in the fourth quarter of 2024 decreased to 552.1 billion Baht, reducing the NPL ratio to 2.78%. This decline was primarily attributed to business loans, partly driven by banks’ loan portfolio management, ongoing debt assistance, and the reclassification of certain NPL debtors who resumed repayments under debt restructuring obligations to stage 2 loans.
The Reserve Bank of Australia (RBA) lowered interest rates by a quarter-point to 4.1%, marking the first cut since November 2020, when rates were slashed to a historical low of 0.1% during the pandemic crisis.
The rate cut offers some relief to borrowers and is favorable for Prime Minister Anthony Albanese, who faces a challenging election by May 17. There is speculation about the possibility of an early election call in light of this development.
Vietnam’s parliament officially approved the biggest restructuring plan since the 1980s when the country adopted pro-market reforms, affecting approximately 100,000 civil servants as the size of government will be reduced by 20%.
Several ministries will be merged, while five ministries will be terminated. Moreover, many state-run television channels, along with several newspapers and magazines, will be shut down.
