Thailand’s SET Index closed at 1,314.65 points, decreased 0.99 points or 0.08%, with a trading value of THB 45.47 billion. The analyst stated that the Thai market traded sideways with volatility due to downside factors from the U.S., as Fed Chair Jerome Powell said not to be in a rush to cut interest rates in the December meeting.
Furthermore, the selling pressure from DELTA also weighed on the SET Index. However, buying forces in banking stocks following KBANK’s share buyback announcement, as well as BANPU and BPP, helped offset some losses.
The analyst expects the Thai market to trade sideways within range.
Vinit Visessuvanapoom, Director General of the Fiscal Policy Office (FPO) and spokesperson for the Ministry of Finance (MoF), stated that the Thai economy in 2025 is projected to grow by 2.4% (within a range of 1.9 – 2.9%), an upward revision from the previous estimate of 2.2%.
The Bank of Japan opted to leave interest rates unchanged, but reiterates its commitment to gradually raise borrowing costs if the economy evolves in line with its forecasts — a move that has shifted investor attention toward the likelihood of an increase as soon as December.
Federal Reserve Chair Jerome Powell warned investors against betting on a third consecutive interest rate cut at the central bank’s December meeting, emphasizing that further policy easing is not assured. “A further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it,” Powell stated during his post-meeting press conference.
President Donald Trump characterized his latest discussions with Chinese President Xi Jinping as “an amazing meeting,” praising Xi as “a great leader” while briefing reporters aboard Air Force One.
Among the immediate outcomes was a move to cut tariffs on chemical inputs for fentanyl from 20% to 10%, effective immediately—a policy shift aimed at addressing concerns over the opioid crisis. Trump also noted that China would resume substantial purchases of US soybeans, calling it an appreciated gesture.
