Thailand’s SET Index closed at 1,189.66 points, increased 13.49 points or 1.15% with a trading value of THB 42.72 billion. The analyst stated that the Thai market rebounded and outperformed its regional peers after the price-to-earnings ratio (P/E) went down to around 12x, while the earnings yield gap increased by 6% to near Covid-19 level, limiting downside risks.
Meanwhile, investors are monitoring developments from the U.S. Fed’s meeting, slated to be concluded tonight, to gauge the prospect of the U.S. economy.
The analyst expected the Thai market to trade sideways tomorrow.
The Bank of Thailand’s Monetary Policy Committee (MPC) has voted to cut its key one-day repurchase rate by 25 basis points to 2.00 percent, effective immediately, according to the minutes of its meeting held on 21 and 26 February 2025. This surprise move, announced in minutes published on Wednesday, 19 March 2025, follows a previous hold in December 2024 and a similar rate reduction in October 2024.
Moreover, the central bank expressed concern that economic growth could be lower than previously anticipated, with higher risks going forward.
Kiatnakin Phatra Securities (KKPS) revised down its 2025 Thailand’s economic forecast, with growth expectations adjusted from 2.6% to 2.3%. This revision stems from a sluggish and uncertain recovery in tourism, tepid consumer spending, and ongoing uncertainties surrounding trade policies.
The Bank of Japan (BOJ) on Wednesday concluded its two-day meeting with the decision to hold interest rates steady at 0.5%, opting for a wait-and-see approach to assess how potential increases in U.S. tariffs might impact Japan’s export-driven economy.
South Korea announced that the districts of Gangnam, Seocho, Songpa, and Yongsan, the wealthy parts of Seoul, will face more tightening property market trading rules to halt any speculative transactions that boost home prices.
India is poised to embrace a wave of global steel protectionism, unveiling plans for sweeping temporary tariffs just days after the U.S. initiated its own.
Following the phone call between Russian President Vladimir Putin and US President Donald Trump, the path to end the war in Ukraine began with Putin agreeing to halt attacks on Ukraine energy facilities. Russia confirmed that its military did receive such an order after the phone call.
