Thailand’s SET Index closed at 1,376.57 points, increased 4.07 points or 0.30% with a trading value of 42.87 billion baht. The analyst stated that the Thai stock market traded narrowly and was in line with the foreign markets, as investors monitored the announcement of CPI figures from the US tomorrow. The Thai market increased for two straight days, following the purchase of food and beverage stocks after announcing better-than-expected 1Q24 earnings.
The analyst expected the market to trade narrowly tomorrow.
The latest data from the Office for National Statistics revealed that the unemployment rate in the U.K. climbed to 4.3% in the three months leading up to March, aligning with predictions by analysts. This figure saw a small increase from the previous period’s rate of 4.2% in February.
Additionally, there was a notable surge in wages excluding bonuses, which rose by 6.0% during the three-month period compared to the same period last year. This growth surpassed analyst expectations of a 5.9% increase.
As the Bank of England mentioned the possibility of a rate cut at its upcoming June meeting, it emphasized the importance of closely monitoring labor market data and its potential impact on inflation.
U.S. President Joe Biden has announced a series of significant tariff increases on Chinese imports, including items like electric vehicles, computer chips, and medical products, in an effort to combat what the White House views as unfair trade practices from Beijing.
The impacted Chinese imports amount to $18 billion and encompass various goods such as steel, aluminum, semiconductors, batteries, critical minerals, solar cells, and cranes.
While Biden’s tariff approach aligns with Trump’s stance on enforcing stringent trade measures, the Biden administration criticized the former president’s 2020 trade deal with China for failing to boost American exports or manufacturing jobs.
Despite positive economic indicators like low unemployment and strong economic growth, Biden faces challenges in convincing voters of the effectiveness of his economic policies, as shown by a recent Reuters/Ipsos poll indicating former President Trump’s perceived advantage on economic matters.
