Thailand SET Index closed at 1,400.02 points, increased 3.06 points or 0.22% with a trading value of 45.55 billion baht. The analyst stated that the Thai stock edged slightly higher in the same direction as regional markets in response to hope that the Bank of Thailand could lower the rate soon after a 5-2 vote to maintain rates at 2.50% today. The analyst expected the Thai stock market to continue edging higher after being able to close above 1,400 level as investors keep an eye on upcoming earnings reports.
The Chinese finance ministry stated that, during the meeting between the US Treasury officials and China’s financial officials in Beijing, the authorities of the host country showed some concerns regarding the tariffs, investment restrictions, and sanctions set up by the US to restrain Chinese companies.
The Committee voted 5 to 2 to maintain the policy rate at 2.50 percent. Two MPC members voted to cut the policy rate by 0.25 percentage point.
The Thai economy is projected to slow in 2024 from exports and manufacturing activity amid softening global demand and moderating growth in China. Structural headwinds are restraining merchandise exports and tourism more than expected.
