Thailand’s SET Index closed at 1,088.18 points, increased 13.59 points or 1.26% with a trading value of THB 50.88 billion. The analyst stated that the Thai market moved with volatility today. After having declined in the morning session, the SET Index rebounded in the afternoon trading.
The rebound was largely attributed to buying forces in major stocks following a sharp plunge, making their valuation more enticing for investors. In addition, the prospect of the U.S.-China tariff negotiation also bolstered market sentiment.
The analyst expects the Thai market to trade sideways tomorrow.
The White House has enacted a substantial 104% increase in tariffs on Chinese imports. This move, effective from noon Eastern time on April 9th, targets China’s failure to lift its retaliatory tariffs against U.S. goods.
In response, China reaffirmed its commitment to “resolute and forceful” measures to safeguard national interests after the U.S. imposed substantial tariffs on Chinese goods.
Meanwhile, Beijing senior leadership is scheduled to meet on Wednesday to craft strategies aimed at stimulating the economy and shoring up capital markets.
Bank of Japan Governor Kazuo Ueda conveyed the central bank’s commitment to elevate interest rates if the nation’s economic resurgence remains on course. However, he emphasized a rigorous, open-minded review of economic projections in shaping future policy moves.
India’s central bank cut its policy rate by 25 basis points to 6% on Wednesday, the lowest since September 2022, amid growing concerns over the country’s economic growth.
