Thailand’s SET Index closed at 1,254.10 points, increased 0.56 points or 0.04%, with a trading value of THB 36.69 billion. The analyst stated that the Thai market trended slightly higher and moved relatively flat in the afternoon session following the earlier-than-expected parliament dissolution. Profit-taking activities emerged among the non-bank, commerce, and out-of-home media sectors as they are slated to benefit from the election. Additionally, investors also predicted the Bank of Thailand’s Monetary Policy Committee to cut interest rates in the upcoming meeting.
The analyst expects the Thai market to potentially exhibit a rebound next week.
Thailand is set for early general elections next year after Prime Minister Anutin Charnvirakul received royal approval on Friday to dissolve Parliament.
According to the Royal Decree, elections for the House of Representatives are scheduled to occur 45 to 60 days following the announcement, during which time Anutin will lead a caretaker administration with limited authority and be unable to propose a new budget.
U.S. President Donald Trump and India’s Prime Minister Narendra Modi discussed efforts to resolve ongoing trade disputes as negotiators from both nations continue on a trade agreement that remains out of reach.
Modi described the conversation as positive and focused on reviewing progress in bilateral relations, as well as addressing both regional and international issues. He added that India and the U.S. plan to cooperate further for global peace, stability, and prosperity.
The U.K. economy registered an unexpected contraction of 0.1% over the three months to October. The Office for National Statistics (ONS) reported that the nation’s gross domestic product shrank during this period, falling short of economist predictions, which had forecast no growth.
