1) Thai stock market overview
Thailand SET Index closed at 1,505.52 points, decreased 3.79 points or 0.25% with a trading value of 33 billion baht. The analyst stated that the Thai stock market closed slightly lower after a sharp plunge yesterday as the market was waiting for the progress of forming the coalition government. There will be a meeting between eight parties that is expected to form the government in Thailand, which should give some positive sentiment to the Thai market. The market next week would continue to fluctuate. The analyst recommended investors to keep an eye on the progress of forming the government.
2) British economy shows flash of weakness as manufacturing and service sector slowdown
Economic growth in Britain showed signs of slowing down in June, while inflation remained persistently high to the point that the central bank stated that it would tighten monetary policy further to bring the price growth down.
A flash data from S&P Global’s Composite Purchasing Managers’ Index (PMI), which covers businesses in the services and manufacturing sectors, dropped to a three-month low of 52.8 in June, compared to 54.0 in May. The service sector grew at the slowest pace in three months, while the manufacturing sector contracted by the most in six months.
3) European growth stalls in June as industrial downturn deepens
Business growth in the Eurozone slowed in June as the industrial contraction worsened and its dominant services sector barely expanded, indicating a challenging end to the second quarter.
In June, the flash composite Purchasing Managers’ Index for the Eurozone fell to 50.3 from 52.8 the month before. This was far lower than the median forecast of 52.5. A number above 50 indicates growth, whereas a reading below 50 indicates decline.
According to S&P Global’s latest HCOB flash PMI survey data, “Eurozone business output growth came close to stalling in June,” indicating “renewed weakness in the economy after the brief growth revival recorded in the spring.”
