Thailand’s SET Index closed at 1,191.75 points, decreased 16.38 points or 1.36% with a trading value of THB 49.09 billion. The analyst stated that the Thai market plunged due to weak fundamentals after having surged from inflows of liquidity and funds.
There were high amounts of selloffs as investors priced in developments on trade talks with the U.S., the approval of the new central bank governor, and moderate earnings reports from the banking sector.
The analyst expects the Thai market to rebound narrowly tomorrow, recommending traders closely monitor further updates on the U.S.-Thai trade talks and 2Q25 earnings reports.
The Thai cabinet approved Mr. Vitai Ratanakorn, Director of the Government Savings Bank, as the next governor of the Bank of Thailand. He will succeed Dr. Sethaput Suthiwartnarueput, the current governor who will step down after his term ends on September 30, 2025.
Taiwan will soon vote on whether to cast out 24 lawmakers of the Kuomintang (KMT), as the party often agrees with the law the government opposes. One-fifth of the Legislative Yuan could potentially be removed from office.
Indonesia’s sovereign wealth fund Danantara is preparing to sign an $8 billion engineering, procurement, and construction agreement with KBR Inc. from the U.S. to build 17 modular oil refineries.
The deal, which has not been previously reported, forms a key part of a recent trade pact between Indonesia and the United States that resulted in the threatened U.S. tariff rate dropping to 19% from 32%.
