Thailand’s SET Index closed at 1,115.69 points, increased 5.68 points or 0.51% with a trading value of THB 34.95 billion. The analyst stated that the Thai market extended gains as Thailand’s political situation became clearer. The government remains fully operational without Paetongtarn Shinawatra premiership, as the acting Prime Minister has full power to push policies and 2026 budget consideration.
Additionally, the Thai market also received tailwinds from continuing progress on U.S.-Thai trade talk, and hopes of Federal Reserve rate cuts.
The analyst recommends investors to wait for new supporting factors tomorrow, suggesting closely monitoring catalysts from the U.S.
Chousak Sirinil, Minister attached to the Prime Minister’s Office and Deputy Leader of the Pheu Thai Party for Legal Affairs, stated that acting Prime Minister Suriya Jungrungreangkit have full prime ministerial power to lead the new ministers to be sworn in before His Majesty the King on July 3, dissolve the House, or reshuffle the Cabinet.
The U.S. announced that the trade deal with India is almost complete, possibly allowing the South Asian country to face a tariff rate less than 26% and lowering the barriers for American companies to raise its competition in the region.
U.S. President Donald Trump affirmed on Tuesday that he has no intention of extending the upcoming July 9 deadline for countries to conclude trade negotiations with Washington. He also voiced renewed skepticism about the prospects of reaching an agreement with Japan.
Federal Reserve Chair Jerome Powell stated on Tuesday that the central bank would have already loosened monetary policy if it were not for Trump’s tariff initiatives.
