Market Roundup 18 April 2024

Thailand’s SET Index closed at 1,361.02 points, decreased 5.92 points or 0.43% with a trading value of 53.90 billion baht. The analyst stated that the Thai stock market declined in contrast with the regional markets as it lacked supporting factors and was on a downward trajectory while awaiting a turnaround opportunity. The selloff of energy, petrochemicals, and agricultural stocks were key factors that pressured the market.

The analyst expected the market to potentially move similarly tomorrow.


President Joe Biden is requesting the U.S. Trade Representative to triple the current tariff rate on steel and aluminum imports from China as he travels through the crucial battleground state of Pennsylvania.

During his upcoming visit to the United Steelworkers headquarters in Pittsburgh on Wednesday, Biden plans to emphasize the need to raise the existing 7.5% average tariff on steel and aluminum. This move aims to underscore that recent warnings issued by his administration regarding China’s trade practices are not mere empty threats.

During a recent trip to China, Treasury Secretary Janet Yellen expressed concerns over Chinese subsidies leading to an oversupply of clean energy products such as solar panels and electric vehicles, surpassing domestic demand. Yellen cautioned that this overcapacity could flood global markets with products offered at artificially low prices, potentially hindering fair competition.


Asahi Noguchi, a board member of the Bank of Japan, stated on Thursday in Saga, Japan, that the pace of future rate increases by the central bank is anticipated to be markedly slower compared to other global central banks. Noguchi emphasized that this decelerated approach is due to the delayed transmission of rising domestic wages to prices.

Noguchi also mentioned during a press conference that he believes there is a “considerably high” chance of reaching the 2% inflation target by 2026. When asked about the timeline for attaining this goal, he optimistically stated, “I personally believe that the situation will improve substantially in a period of two years.”

Regarding any potential interest rate hikes for the year, Noguchi refrained from providing a definitive answer, citing that the decision would hinge on prevailing economic circumstances.


The Thai cabinet had acknowledged the resolution of the meeting on the consideration of proposing amendments to regulations governing fraud prevention and manipulation by companies listed on the Stock Exchange of Thailand (SET), as suggested by the Ministry of Finance.

Furthermore, the Securities and Exchange Commission (SEC) has elevated the oversight of securities issuers under the “Strong Securities Issuers” project and promoted corporate governance reviews by having investment professionals act as representatives of empowered investors, following an international model that will be implemented in Thailand.

Moreover, the Thai Bond Market Association (ThaiBMA) also suggested reinforcing measures to seize or freeze assets related to fraudulent activities and misconduct in securities issuance. This encompasses assets acquired through suspicious means or in connection with fraudulent activities. Additionally, guidelines and measures will be established to provide compensation to investors affected by fraudulent and manipulative practices.