Thailand’s SET Index closed at 1,252.19 points, increased 2.12 points or 0.17%, with a trading value of THB 34.06 billion. The analyst stated that the Thai market rebounded in the morning session, before paring gains and moving sideways during the afternoon session. This was due to a lack of supporting factors after investors had priced in both Federal Reserve and Monetary Policy Committee rate cuts.
Next week, both the U.S. and European stock markets will be closed during the Christmas Holiday, which will affect the trading volume.
For next week, the analyst expects the Thai market to move within range, recommending investors closely monitor the Thai political situation and the U.S. economic figures.
The Bank of Japan lifted its benchmark interest rate to 0.75%, marking its highest level in thirty years and further moving away from the country’s longstanding era of ultra-loose monetary policy and near-zero borrowing costs.
The European Union reached consensus to extend a substantial interest-free loan package totalling €90 billion ($106 billion) to Ukraine, designed to bolster both its military and economic sectors through 2026 and 2027. This decision follows the bloc’s inability to reach an agreement on tapping frozen Russian assets for Ukrainian aid.
Canada and the United States are set to kick off formal talks to review the United States-Mexico-Canada Agreement (USMCA) in mid-January.
Dominic LeBlanc, Canada’s designated lead for U.S.-Canada trade negotiations, will meet with American officials early in the new year to formally initiate the review process.
