Thailand’s SET Index closed at 1,068.73 points, decreased 25.85 points or 2.36% with a trading value of THB 46.63 billion. The analyst stated that the Thai market continued to shrink from political uncertainty after the Bhumjaithai Party announced a withdrawal from the ruling coalition, and protestors pressured the Prime Minister to resign, raising concerns over Thailand’s economic outlook.
Furthermore, the Thai market was also weighted from overseas factors, as Israel-Iran tensions continue to mount.
The analyst recommends investors closely monitor Thailand’s political situation.
Thailand’s Prime Minister, Paetongtarn Shinawatra, issued an apology following the leak of a phone conversation. The PM explained that the call, which had been conducted using her personal phone, was recorded and released without her knowledge. She assured that her administration stands prepared to offer comprehensive support to the nation’s military.
Additionally, Thailand’s Foreign Ministry also expressed strong disapproval of Cambodia’s actions.
The Israeli military issued a stern advisory urging residents to vacate the vicinity of Iran’s Arak heavy water reactor.
Following Israel’s missile attack on the reactor, Iran launches missile strikes on key cities in Israel. Massive detonations were reported to have been heard over Tel Aviv and Jerusalem.
The U.S. Federal Reserve decided to maintain interest rates unchanged, with projections pointing toward potential decreases in 2025. Nonetheless, Jerome Powell, the Chair of the Federal Reserve, urged caution against relying too heavily on this forecast.
