Thailand’s SET Index closed at 1,286.98 points, decreased 27.01 points or 2.06%, with a trading value of THB 37.69 billion. The analyst stated that the Thai market plunged due to selling pressure in DELTA, THAI, and AOT, following their respective downside factors. Meanwhile, investors were opting to mitigate risk before long holidays.
For next week, the analyst expects the Thai market to trade sideways.
The latest evidence of fierce price competition, often referred to locally as ‘involution,’ is surfacing in China’s tourism industry, intensifying wider concerns about mounting deflationary pressures in the country’s economy.
During the Golden Week holiday from October 1 to 8, domestic tourism trips reached 888 million and generated revenues totaling 809.01 billion yuan ($113.63 billion). These figures represent year-on-year increases of 1.8% in trips and 7.6% in revenue.
Oil prices maintained their steepest decline in a week, as markets weighed tentative hopes for reduced Middle East tensions and the evolving global supply landscape. Brent crude hovered around $65 a barrel after shedding 1.6% on Thursday, while U.S. benchmark West Texas Intermediate slid below $62.
The United States Treasury has imposed new sanctions on approximately 100 individuals, entities, and vessels allegedly linked to Iran’s oil and petrochemical trade—including a Chinese independent refinery and port terminal—intensifying Washington’s crackdown on Tehran’s energy exports.
The U.S. Treasury has finalized a $20 billion currency swap arrangement with Argentina and intervened in the foreign exchange market by purchasing pesos, moves that fulfill President Donald Trump’s commitment to stabilize the embattled South American nation. The steps immediately fueled a surge across Argentine assets, with the peso recovering and sovereign bond prices climbing.
