Thailand’s SET Index closed at 1,206.96 points, increased 29.32 points or 2.49% with a trading value of THB 50.70 billion. The analyst stated that the Thai market surged back to above 1,200 points due to a tailwind from the buying pressure in big cap stocks as concerns over trade war has subsided over the possibility of U.S. compromising.
Meanwhile, China’s preparation for economic stimulus plans strengthens Asia market sentiment.
For tomorrow, the analyst expected the Thai market to trade sideways.
Thailand’s Deputy Finance Minister announced on Wednesday that the nation’s economy is projected to expand by 3.4% in the first quarter of 2025 compared to the previous year. This anticipated growth rate would mark the fastest pace seen in 10 quarters, signifying a positive upward trajectory for the economy.
The Chinese government has officially announced that it will maintain its economic growth target at approximately 5% for the year 2025, notwithstanding the looming trade tensions with the United States and other challenges ahead.
South Korea on Wednesday announced the establishment of a 50 trillion won ($34 billion) policy fund designed to bolster domestic firms engaged in strategic technologies like semiconductors and automobiles, amid rising protectionism and intensifying global competitiveness.
President Donald Trump is expected to announce tariff compromise deals with Canada and Mexico, which may involve a reduction, at least partially, of the newly imposed 25% tariffs on imports from both countries.
Financial markets are once again on edge as signs of a global economic slowdown re-emerge. Recent U.S. economic data, coupled with escalating trade tensions, have dampened consumer confidence and business activity.
While a recession is not the prevailing forecast for economists due to the fundamental strength of the U.S., investor anxiety remains high, exacerbated by President Trump’s new 25% tariffs on imports from Mexico and Canada.
On Tuesday, U.S. President Donald Trump has called for the repeal of the 2022 bipartisan CHIPS and Science Act, suggesting that the $52.7 billion in subsidies earmarked for semiconductor manufacturing should instead be redirected towards reducing national debt.
Criticizing the Act during a speech to Congress, Trump argued that the funds are not being utilized effectively and that ending the Act would eliminate unnecessary spending.
