Thailand’s SET Index closed at 1,299.78 points, increased 6.16 points or 0.48% with a trading value of THB 35.28 billion. The analyst stated that the Thai market traded sideways within a limited range, challenging the resistance level of 1,300 points and returning to trading at the forward P/E ratio of 14x, the second highest in the region.
However, the lack of short-term supporting factors has pushed the index back to the closed point.
Meanwhile, investors are closely monitoring the FOMC meeting, which is expected to cut interest rates, as well as monitoring the Federal Reserve governor’s speech.
For tomorrow, the analyst expects the market to trade similarly to today’s movement.
Thailand’s central bank and finance ministry are in talks over a potential new tax on online gold trading conducted in baht, according to sources familiar with the matter.
The proposal is being considered as a measure to curb the appreciation of the Thai currency, which has shown signs of strengthening in recent months.
China will host its Beijing Xiangshan Forum, with a goal of pushing for President Xi Jinping’s vision of a new world order as he called for unity against the U.S.’ hegemonism and power politics.
U.S. and Chinese negotiators wrapped up the first round of discussions in Madrid on Sunday, seeking to temper escalating trade tensions as critical deadlines, including a potential forced sale of TikTok, loomed large.
President Donald Trump will receive the highest honors of British state protocol this week as the United States and United Kingdom prepare to unveil fresh agreements spanning technology and civil nuclear energy.
