Thailand’s SET Index closed at 1,210.94 points, increased 4.35 points or 0.36% with a trading value of THB 40,95 billion. The analyst stated that the Thai market rebounded during the afternoon session in anticipation to the U.S.-China trade talk this weekend, and better-than-expected China imports-exports figures and listed companies Q1 earnings.
The analyst suggests investors should closely monitor the result of U.S.-China trade negotiation.
In a strategic move to mitigate its $46 billion trade surplus with the United States ahead of looming tariff negotiations, Thailand has expressed interest in co-developing a significant gas pipeline project in Alaska, supported by U.S. President Donald Trump.
According to a press conference made by the Bank of Thailand’s Governor Sethaput Suthiwartnarueput, the central bank is running low on “ammunition” following a series of recent interest rate reductions. However, he mentioned that the central bank remains committed to support the Thai economy with further cuts if needed.
The People’s Bank of China (PBOC) allowed some commercial banks to buy foreign currencies to pay off its gold imports after the central bank expanded gold import quotas last month.
Despite being in the middle of a trade war with the U.S., China’s export last month remains high, beating Reuters’ poll. The surge came as China is seeking other markets outside the U.S. to avoid high tariffs. Meanwhile, its import showed a slight drop in April.
