Thailand’s SET Index closed at 1,386.04 points, decreased 8.89 points or 0.64% with a trading value of 49.75 billion baht. The analyst stated that the Thai stock market declined to conform with the regional markets, especially the Japanese market, as the decrease was caused by the selloff of speculated stocks and the upcoming BOJ meeting on March 19, in which investors expected the bank to announce the end of negative interest rate. Investors also awaited the meeting of the US Federal Reserve next week, as they anticipated the Fed to hold interest rates, while also monitoring the future rate cuts.
The analyst expected the market to trade narrowly next week.
Former US Treasury Secretary Steven Mnuchin has been reportedly building a group of investors to buy TikTok after the House of Representatives passed a bill which forced the short-video application to divest the company or else be banned from the country.
Mnuchin expressed his opinion via CNBC that the bill should be passed and sold, since it would be a great business, while also stating that the application should be owned by the US, not China, as the world’s second largest economy would not allow any US-owned company to operate in its country.
On Wednesday, the US House of Representatives passed a bill, which would lead to a TikTok ban if ByteDance, its Chinese owner, did not divest the US assets of the short-video application within six months, as concerns were raised over a critical national security issue.
Meanwhile, there were no specific details on who the other investors would be in the group that Steven Mnuchin was building. However, the divestment of TikTok also sparked interest in other buyers, such as Activision Blizzard CEO Bobby Kotick, according to the data from the Wall Street Journal reported by CNBC.
