Market Roundup 31 January 2025

Thailand’s SET Index closed at 1,314.50 points, decreased 21.14 points or 1.58% with a trading value of 53.36 billion baht. The analyst observed a significant downturn in the Thai market, attributed to the sell-off of big-cap stocks like CPALL, DELTA, and GULF-related stocks, along with profit-taking activities in the banking sector, which had previously seen growth.

The analyst expected the Thai market to trade sideways next week.

 

Mr. Pichai Naripthaphan, Thailand’s Minister of Commerce, revealed after discussions with Mr. KURODA Jun, President of the Japan External Trade Organization, Bangkok (JETRO Bangkok), and Mr. TO Kozo, President of the Japanese Chamber of Commerce, Bangkok (JCCB), that both sides discussed strategies to promote economic trade and investment, aiming to create an environment that supports sustainable business cooperation between Thailand and Japan.

The minister encouraged Japanese investors to increase their investments in Thailand, particularly in future industries such as semiconductors, data centers, printed circuit boards, and artificial intelligence (AI), as these investments will help drive economic growth and create new opportunities for expansion.

 

As per a Bloomberg report citing individuals familiar with internal discussions, the European Central Bank (ECB) might consider dropping the “restrictive” label from its monetary policy stance in its upcoming decision in March.

A further reduction in borrowing costs by a quarter percentage point, reducing the deposit rate to 2.5%, is highly probable for that meeting, said the sources.

 

On Thursday, the US President Donald Trump said that he would soon make a decision on whether Canadian and Mexican oil imports would be exempted from the impending 25% tariffs he intends to impose on their products starting February 1.

Moreover, he also threatened BRICS member countries on Truth Social for them to halt efforts to use a new currency in place of the US dollar as a reserve currency or face 100%-tariffs, a statement nearly identical to the one he stated after winning the election in November 2024.