Thailand’s SET Index closed at 1,212.49 points, decreased 7.13 points or 0.58% with a trading value of THB 46.88 billion. The analyst stated that the Thai market contracted due to the escalation in the Thai-Cambodia border dispute, pressuring big-cap stocks and firms with exposure to Cambodia.
Meanwhile, impacts from the conflict are anticipated to be limited, while the analyst pointed out the index’s movement passed 1,210-1,230 points as one of the factors for the selloffs.
For tomorrow, the analyst recommends investors to closely monitor U.S.-Thai trade talks, as a less than 19% tariff rate could generate a surprise positive factor.
The Thai Army spotted Cambodian UAV flying around Ta Muen Temple on the Thai-Cambodian border, along with six soldiers with one carrying a rocket launcher. The Thai soldiers attempted to communicate with Cambodian soldiers to de-escalate the tension, but Cambodian soldiers later opened fire at Thai soldiers, sparking a day long skirmish and bombardments from both sides.
Chinese President Xi Jinping called on the European Union (EU) to “properly handle differences and frictions” in trade amid rising tensions at a one-day summit in Beijing on Thursday.
The United States will impose new tariffs on imported goods starting at 15% and climbing as high as 50% based on the trade partner’s cooperation with Washington.
The White House rolled out an aggressive new roadmap to boost American dominance in artificial intelligence, laying out plans to relax regulations, expand energy supply, and cut funding for states with restrictive AI rules.
