1) Thai stock market overview
Thailand’s SET Index closed at 1,521.40 points, decreased 12.14 points or 0.79% with a trading value of 48 billion baht. The analyst stated that the Thai stock market closed lower, pressured by the selloff in big-cap stocks as foreign investors continued to withdraw funds from Thailand due to uncertainties in Thai political issues despite positive sentiment from the U.S. Houses passing debt ceiling bill.
The analyst recommended investors to monitor the progress of political situations and tomorrow’s U.S. job report.
2) Inflation in Eurozone Falls to 6.1%, but manufacturing output worsened
Eurozone’s inflation eased more than expected in May as flash figures showed that the reading was the lowest level since February 2022.
Inflation for May fell to 6.1% from 7% in April, surprising the market that expected inflation to come in at 6.3%.
Core inflation, which excludes the volatile energy and food prices, also fell more than expected to 5.3% from 5.6%.
The official HCOB manufacturing Purchasing Managers’ Index (PMI) for May, compiled by S&P Global on Thursday, dipped to 44.8 from April’s 45.8, beating a preliminary reading of 44.6 but still below the 50 threshold separating growth from contraction for the eleventh month in a row.
The drop in eurozone manufacturing output worsened in May as demand slumps despite factories lowering prices for the first time since September 2020, according to a survey on Thursday.