1) Thai stock market overview
Thailand’s SET Index closed at 1,638.59 points, increased 7.02 points or 0.43% with a trading value of 65 billion baht. The analyst stated that the Thai stock market closed higher in the same direction as regional markets even after a small selloff in the afternoon to lower the risk before the Fed’s rate hike tomorrow.
The analyst expected the SET Index to continue moving in sideways trends with a support level at 1,625 points and a resistance level at 1,645 points.
2) August’s core inflation in Japan hits near 8-year high
Core consumer inflation in Japan accelerated to 2.8% in August, according to government data released on Tuesday, marking the fastest annual pace in nearly eight years and exceeding the 2% target set by the central bank for the fifth consecutive month.
This was the outcome of raw material price pressure and yen weakness.
Analysts polled by Reuters predicted a 2.7% increase, and consumer prices gained 2.4% in July.
3) China to Ease Entry Restrictions for Some International Tourists
The Ministry of Culture and Tourism issued a statement on Monday saying that tour groups organized by travel agencies in border areas can choose their port of entry and exit “flexibly”. The statement did not provide any further details about specific locations or dates.
Since the emergence of the new coronavirus in 2020, China has closed its borders to international tourists, with only limited groups of foreign visitors allowed to enter the country, such as those with specific job permits.
4) Sweden’s central bank surprises markets with full-percentage rate hike to curb inflation
Sweden’s central bank raised interest rates by a full percentage point on Tuesday, hiking its policy rate to 1.75% in a move that surprised the market.
The raise beat majority estimates in a Reuters poll for a 75 basis point hike as the country faced rising inflation to a 30-year high of 9% in August from the effects of surging energy prices that weighed on the Swedish economy.