Thailand’s SET Index closed at 1,173.76 points, increased 14.12 points or 1.22% with a trading value of THB 38.59 billion. The analyst stated that the Thai market rebounded due to tailwinds from the support from the ‘Global Play’ stocks such as petrochemical stocks, as investors anticipated potential announcements from the Chinese government regarding economic stimulus measures next week. There were speculative buying activities for these stocks following their declining period.
Meanwhile, the index was also bolstered by the movement in the positive territory of the Dow Jones Futures and strengthening of the Thai baht.
The analyst expects the Thai market to trade sideways next week, with traders monitoring the US Fed meeting.
The Bank of Japan (BOJ) is anticipated to maintain its interest rates in the next week’s meeting, while deliberating the potential impacts of the intensifying U.S. trade war on Japan’s export-driven economy, a key factor in the timing of its next rate hike.
The United Kingdom’s economy saw an unexpected contraction of 0.1% in January on a month-on-month basis. This downturn was primarily attributed to a slump in the production sector.
US Commerce Secretary Howard Lutnick unveiled a transformative tax strategy proposed by President Donald Trump, aimed at profoundly reshaping financial obligations for American taxpayers.
Lutnick emphasized Trump’s ambition to abolish federal income taxes for individuals earning less than $150,000 annually — a goal that could redefine economic perceptions for millions.
