Thailand’s SET Index closed at 1,252.73 points, decreased 1.67 points or 0.13%, with a trading value of THB 41.79 billion. The analyst stated that the Thai market traded sideways within a limited range as the index perceived a positive sentiment from the U.S. Fed’s December rate cut hopes. Meanwhile, it still lacked supporting catalysts to bolster a positive trend amid weak trading volume.
For tomorrow, the analyst expects the market to continue trading sideways, with a technical rebound potentially occurring. Investors are recommended to pay attention to Thailand’s October trade figures.
The Bank of Thailand (BOT) is set to implement stricter reporting requirements on gold transactions in response to increased bullion flows that have contributed to volatility in the baht. This move reflects policymakers’ efforts to gain clearer insight into how these transactions might be affecting the currency.
Thai Airways (THAI) will propose this to its board of directors for approval and is expected to sign the land lease agreement with the EEC within the next January. Initially, the company reported the intention to set up a subsidiary company for project operations. Details on whether to form a joint venture with any private sector partners will be decided solely by THAI. The estimated project value is THB 10 billion, with a 50-year lease period.
John Williams of the New York Fed stated that the central bank could consider reducing interest rates, citing concerns about labor market weakness outweighing the risks of persistently high inflation. The Fed has only one remaining meeting scheduled for 2025, set for December 9-10, with the benchmark rate currently at 3.75% to 4.00%.
