Thailand’s SET Index closed at 1,197.26 points, increased 26.14 points or 2.23% with a trading value of THB 54.36 billion. The analyst stated that the Thai market surged due to investors’ bullish sentiment following the Monetary Policy Committee reducing borrowing rate to 1.75% as anticipated.
Meanwhile, supporting catalysts from overseas remained to be monitored amid trade negotiations between the U.S. and its partners.
The analyst expected the Thai market to move sideways on May 2, as investors awaited new supporting factors.
At the meeting of Monetary Policy on April 30, policymakers voted 5 to 2 to cut the policy rate by 0.25 percentage point from 2.00 to 1.75 percent, effective immediately. Two members voted to maintain the policy rate at 2.00 percent.
China has made a decision to waive the 125% tariff on ethane imports from the United States, alleviating pressure on Chinese companies reliant on U.S. ethane for petrochemical production. The move also provides a significant market for the natural gas liquid, a byproduct of U.S. shale gas output.
The eurozone economy displayed an unexpectedly strong performance in the first quarter of 2025, expanding by 0.4%.
This growth rate exceeded the predicted 0.2% increase that Reuters economists had anticipated, following a revised 0.2% growth in the final quarter of 2024.
As automakers are bracing themselves for tariffs on import auto components that are about to take effect, the U.S. President Donald Trump signed an executive order, providing a relief measure that would free these vehicle companies from some burden.
