Thailand’s SET Index closed at 1,123.00 points, increased 3.06 points or 0.27% with a trading value of THB 31.44 billion. The analyst stated that the Thai market traded with volatility today due to the ongoing trade war. However, as the prospect of U.S.-Thai trade talks became clearer, the market exhibited an upward trend in the afternoon session.
Investors have begun to put focus on the impact of trade war on each sector, especially the data centers. Meanwhile, sectors that are not heavily impacted by trade war, such as telecommunication and banking, are still being favored by investors.
Furthermore, the prospect of the Monetary Policy Committee rate cuts also provides some tailwinds.
The analyst expects the Thai market to continue trading with volatility tomorrow, with a potential showing of positive trajectories.
Thailand has presented a revised trade proposal to the United States in an attempt to avert significant new tariffs from its top export market, with the inclusion of a commitment to zero tariffs on numerous U.S. imports.
Thailand’s headline consumer price index declined by 0.25% year-on-year in June, following a 0.57% decrease in May. The drop was steeper than the 0.10% fall expected by economists polled by Reuters and remained below the Bank of Thailand’s inflation target range of 1% to 3%.
The Thai government is set to formally withdraw the Entertainment Complex Bill from parliamentary consideration, citing that the withdrawal is framed as a move to allow the public more time to fully understand the bill.
U.S. President Donald Trump announced that nations aligning themselves with what he called the “anti-American policies of BRICS” will face an extra 10% tariff on their exports to the United States, vowing that the new measure will be applied universally without exception.
