Thailand’s SET Index closed at 1,408.30 points, decreased 8.91 points or 0.63% with a trading value of 39.3 billion baht. The analyst stated that the Thai stock market was rebasing, which was in the same direction as regional markets after a series of gains late last week. Meanwhile, Thailand was lacking a positive catalyst, resulting in a profit taking and also pressuring in bond yields.
The analyst recommended investors to follow comments of Fed’s officials this week and also direction of bond yields. Domestic factors would be the digital wallet as there are no further details as of now.
Kasikornbank Public Company Limited (SET: KBANK) and SCB X Public Company Limited (SET: SCB) are major Thai banks among the final bidders for consumer lender Home Credit’s business in Vietnam for an estimated value of $700 million in assets, according to the report by Bloomberg.
The report cited sources familiar with the matter, which also said that South Korea KB Kookmin Bank is also at the final stage as well.
The source said that Home Credit Vietnam is expecting to identify the buyer by the end of this year, but is also open to keeping the assets for longer.
China reported worse-than-expected trade data, as October exports went into a more negative direction of $3.1 million or 6.4% YoY lower, which is almost double the Reuters poll expectation of 3.3%. China exports have reported a consecutive negative value since June of this year.
Meanwhile, China October imports rose by 3% YoY to $6.4 million, opposite to the Reuters poll expectation of 4.8% drop. The import increase is despite the recent trade tension between China and the west, that should reduce trade between them as the data reported an increase in EU import more than 5% and SEA import increase by over 10%. This is the first month of the year that China reports a positive import.
