Thailand’s SET Index closed at 1,281.81 points, increased 9.64 points or 0.76%, with a trading value of THB 33.44 billion. The analyst stated that the Thai market exhibited an upward trend, in line with the Asian markets, following a hotter-than-expected earnings report from Nvidia, as well as prospects of continued momentum into Q4 among listed companies.
Meanwhile, sentiment slowed in the afternoon session as investors awaited the non-farm payrolls from the U.S., slated for tonight, while market participants project a lower likelihood for the Fed to cut interest rates in the upcoming meeting. Concurrently, DELTA was also the focus for traders, as to whether the Cash Balance ticker would be extended.
For tomorrow, the analyst suggests investors monitor economic indicators from the U.S.
China is weighing additional steps to stabilize its ailing property sector amid increasing fears that further deterioration could undermine the country’s financial stability.
Among the options are the introduction of nationwide mortgage subsidies for first-time homebuyers. Officials are also considering measures to enhance income tax rebates for mortgage holders and reductions in home transaction costs.
Expectations for a December interest rate cut by the Federal Reserve have receded sharply following the U.S. Labor Department’s announcement to withhold the October employment report. The unlikely prospect of a move now stands at 68%, up significantly from the previous month.
The probability of a 25-basis-point reduction in rates has plummeted to 32.8%, compared to an overwhelming 93% likelihood forecast just a month earlier. As it stands, 67.2% of market participants now anticipate the central bank will maintain its current policy at its upcoming December meeting.
