Market Roundup 11 July 2024

Thailand’s SET Index closed at 1,329.37 points, increased 6.09 points or 0.46% with a trading value of 40.29 billion baht. The analyst stated that the Thai stock market within the range as investors monitored new supporting catalysts, especially the US inflation data. A potential decline in U.S. inflation figures could heighten the likelihood of a Federal Reserve interest rate cut in September. Domestically, investors were attentive to political uncertainties, second-quarter 2024 earnings disclosures from banks, and advancements related to the TESG fund’s inclusion in the cabinet.

The analyst expected the market to trade sideways tomorrow.


Japan’s core machinery orders unexpectedly dropped for the second consecutive month in May, sparking apprehensions about capital expenditure and the sustainable recovery necessary for the Bank of Japan to consider raising interest rates.

The volatile leading indicator of capital spending witnessed a 3.2% month-on-month decline in May, following a 2.9% decrease in April, defying expectations of a 0.8% increase among analysts polled by Reuters.


Jay Shambaugh, the Treasury’s Undersecretary for International Affairs, emphasized the need for innovative approaches beyond tariffs to safeguard American industries and workers against the surge in China’s excessive industrial output.

Shambaugh highlighted how China’s production, disengaged from its domestic demand and the global market, has led to a flood of exports posing a threat to jobs in the U.S. and other nations.


In June, Thai consumer confidence experienced a downhill trend for the fourth consecutive month, reaching its lowest point since September of the previous year. The decline, attributed to worries surrounding an economic deceleration and political ambiguities, was highlighted in a survey published on Thursday.

The consumer index dipped to 58.9 in June from 60.5 in May. Consumers expressed concerns about the instability in politics following a court case that could potentially result in the removal of the prime minister. Additionally, the perceived economic stagnation or slow recovery was attributed to the absence of clear stimulus measures.


The U.K. economy expanded by 0.4% in May, surpassing expectations and prompting the British pound to reach a four-month high against the U.S. dollar.

The growth in gross domestic product exceeded the 0.2% forecast projected by economists in a Reuters poll. After emerging from a slight recession in the first quarter and experiencing stagnation in April, the U.K. economy showed positive signs of recovery.