Thailand’s SET Index closed at 1,157.63 points, decreased 3.38 points or 0.29% with a trading value of THB 42.92 billion. The analyst stated that the Thai market traded sideways after exhibiting gains from previous sessions, following negative sentiment from slightly higher-than-expected inflation figures from the U.S, which could put pressure on the Federal Reserve to cut interest rates.
Additionally, the index was also pressured by reports on the preliminary agreement between the U.S. and Indonesia regarding the 19% tariffs, which is well below the prior 32% rate.
However, the Thai market remains hopeful that Thailand will be able to negotiate a similar trade deal compared to Indonesia, or potentially reach an agreement that is equal to or even better than what Vietnam has achieved.
For tomorrow, the analyst expects the Thai market to continue trading sideways or potentially show an upbeat trajectory and suggests investors remain focused on the trade negotiations.
Consumer prices in the U.S. increased by 0.3% in June, driving the annual inflation rate up to 2.7%, the highest level since February.
This result aligns precisely with economists’ predictions for the headline CPI. This new data revealed a rise from the 2.4% annual inflation reported in May, although still trailing the 3% recorded in January when Trump began his term.
Iran decided that the country would not negotiate with the U.S. regarding its nuclear program until preconditions are met, likely referring to the guarantees of no further attack that Foreign Minister Abbas Araqchi previously mentioned.
Meanwhile, the U.S., France, the U.K., and Germany have set a deadline for Iran to make concrete progress by the end of August, or they would request the United Nations Security Council to impose international sanctions on the Middle Eastern country.
