Thailand’s SET Index closed at 1,170.12 points, decreased 3.64 points or 0.31% with a trading value of THB 35.90 billion. The analyst stated that the Thai market traded sideways, mostly in the negative territory, as investors monitored the central bank meetings, including the US Federal Reserve, the Bank of Japan, and the Bank of England, with expectations that central banks would assess adverse impacts from trade policies of US President Donald Trump.
Meanwhile, the Thai market was pressured by the selloff of ‘China Play’ stocks, while the real estate sector showed some positivity with anticipation for the government’s stimulus measures.
The analyst expected the Thai market to trade narrowly tomorrow, with investors keeping an eye on the country’s export figures and the Cabinet’s meeting.
A 100,000-yen gift handout by Japanese Prime Minister Shigeru Ishiba, recently given to 15 lawmakers of his party, has affected him negatively as several polls show his approval rate dropping. This could affect the Japanese House of Councillors (upper house) election this July.
China’s economy experienced a slight improvement during the initial two months of the year. During the January-February period, retail sales increased by 4.0% compared to the previous year, aligning with the forecasts from Reuters and surpassing the 3.7% year-on-year growth seen in December.
This development comes amid the nation’s reiterated commitment to enhancing domestic consumption.
A recent Reuters survey of 61 economists predicted the BoE would hold its benchmark interest rate steady at 4.5%, opting for a cautious approach amidst the complexities of U.S. President Donald Trump’s trade policies and the mixed performance of Britain’s economy.
Meanwhile, they anticipate potential rate cuts in May, August, and November.
