Thailand’s SET Index closed at 1,189.14 points, increased 2.08 points or 0.18% with a trading value of THB 46.95 billion. The analyst stated that the Thai market traded sideways-up along with the regional trend following China’s rate cut, and buying force from the banking sector. However, the market still lacked new supporting factors, while concerns over a slowdown in the domestic economy capped gains.
The analyst expects the Thai market to continue trading sideways tomorrow.
Thailand’s Cabinet has given the green light to a substantial economic stimulus plan worth 157,000 million baht to strengthen Thailand against global headwinds.
China’s exporters, still reeling from the scars of an ongoing trade war with the United States, are moving decisively to diversify away from America.
Meanwhile, the People’s Bank of China trimmed its key lending rates by 10 basis points. This move comes as rising trade tensions threaten to undermine economic progress.
The U.S. President Donald Trump made a phone call with Russian President Vladimir Putin regarding the ongoing war with Ukraine. The U.S. president later said that Russia and Ukraine will work toward an immediate ceasefire, despite the Kremlin adding that it could take some time, prompting the European nations to increase pressure with more sanctions.
