Thailand’s SET Index closed at 1,276.08 points, increased 9.97 points or 0.79% with a trading value of THB 47.38 billion. The analyst stated that the Thai market extended gain due to buying force in PTT, GULF, and DELTA, and fund inflows following the strengthening of the Thai baht. The confidence in the push for economic stimulus measures by the new cabinet also bolstered market sentiment.
The analyst expects the Thai market to trade sideways within range tomorrow.
Thailand’s Supreme Court ordered former Prime Minister Thaksin Shinawatra to return to prison and serve a one-year jail sentence, ruling that his previous transfer to a hospital was not justified under the law.
Following the recent Cabinet meeting, Jirayu Huangsap, spokesperson for the Office of the Prime Minister, announced that the government has approved an extension of the current value-added tax (VAT) rate, keeping it at 7% for another year instead of reverting to 10%.
France’s government was ousted after lawmakers overwhelmingly rejected Prime Minister Francois Bayrou’s efforts to rein in soaring national debt. The no-confidence vote, which passed by 364 to 194, exposes deep divisions in parliament and throws the eurozone’s second-largest economy into further political upheaval.
The U.S. implemented financial and diplomatic sanctions on nine companies in Myanmar, ten companies in Cambodia, and several individuals in both countries for being involved in a global scam industry that stole about $10 billion from Americans last year.
