Thailand’s SET Index closed at 1,248.78 points, increased 4.30 points or 0.35% with a trading value of THB 34.42 billion. The analyst stated that the Thai market traded sideways-up as investors anticipated political clarity within 1-2 weeks. In the near term, if the situation remains unclear, the upside could be limited.
The Thai market today received tailwinds from petrochemical stocks, after Japan announced plans to reduce ethylene (C2) cracker production, in line with South Korea.
The analyst expects the Thai market to trade sideways tomorrow and recommends investors closely monitor the U.S. market sentiment and PMI figures.
Despite Prime Minister Shigeru Ishiba affirming his intention to continue as president of the ruling Liberal Democratic Party (LDP) for the time being, a wave of resignations hit the party’s upper ranks.
Four senior LDP officials—including Secretary-General Hiroshi Moriyama, Policy Research Council Chairman Itsunori Onodera, General Council Chairman Shunichi Suzuki, and Election Strategy Committee Chairman Seiji Kihara—collectively announced plans to step down.
Consumer prices in the Euro area edged up slightly in August, with headline inflation hitting 2.1%, just above the European Central Bank’s (ECB) stated target. Consensus forecasts had pointed to a steady 2% rate, unchanged from July.
U.S. President Donald Trump stated that India has proposed reducing tariffs on American goods to zero, even as Indian Prime Minister Narendra Modi demonstrated visible solidarity with Chinese and Russian leaders amidst intensifying trade friction with Washington.
