Thailand’s SET Index closed at 1,614.36 points, increased 1.74 points or 0.11%, with a trading value of THB 77.86 billion. The analyst stated that the Thai stock market traded sideways-up, following positive sentiment from overseas markets after the U.S. reported cooler inflation, easing concerns over potential Fed rate hikes at the September meeting.
However, the market later pared some early gains due to selling pressures from the oil and banking sectors, as well as DELTA, which edged slightly lower.
For tomorrow, the analyst expects the Thai market to move sideways within range.
Thailand’s Ministry of Finance is advancing efforts to restructure the automotive excise tax, aiming to promote local manufacturing and enhance fairness for automakers investing in Thailand.
Under the current structure, certain imported vehicles received preferential tax benefits under Free Trade Agreements. This disparity posed obstacles to the sustainable development of Thailand’s automotive sector by disadvantaging local manufacturers.
