Krungsri Securities expected Thailand’s SET Index to move within the range of 1,365-1,370 points. The analyst stated that the pressure was from concerns over the US Fed maintaining its interest rates for longer if inflation remains at a higher level. Moreover, the analyst expected investors to slow down prior to the long weekend and also to see the Bank of Thailand’s decision at the meeting on April 10.
Still, rising crude oil prices amid tensions in the Middle East could result in a rebound for the SET Index. Thus, the analyst recommended investors to buy on weakness.
Apple is set to lay off 614 employees in California, marking the company’s first significant job cuts since the start of the pandemic, as confirmed by a recent state filing.
The affected workers were based in various facilities in Santa Clara, as indicated in a WARN notice released by California. The impacted employees received official notice of the layoffs on March 28, with the changes scheduled to take effect on May 27.
The decision to initiate the layoffs follows Apple’s recent move to scrap a project focused on developing an electric, self-driving car under a team known as the Special Projects Group.
Oil prices extended gains on early Friday after finishing at the highest level since October 2023 last night.
The West Texas Intermediate crude for May delivery rose $1.16 or 1.36% to close on Thursday at $86.59 a barrel and gained 0.17% this morning to $86.74 a barrel. Meanwhile, the international benchmark Brent crude for June delivery increased $1.30 or 1.45% to settle at $90.65 a barrel and gained 0.35% to $90.97 a barrel this morning.
