Thailand’s SET Index closed at 1,302.91 points, decreased 10.40 points or 0.79%, with a trading value of THB 29.05 billion. The analyst stated that the Thai market declined along with overseas markets due to concerns of the U.S. economy slowing down, after major American firms laid off their employees.
Furthermore, the market faced selling pressures in big-cap stocks such as DELTA, banking stocks, and hospital stocks, while there were no new supporting factors to stabilize the market.
For next week, the analyst expects the Thai market to trade sideways within range.
Anutin Charnvirakul, Prime Minister of Thailand, and Lawrence Wong, Prime Minister of the Republic of Singapore, officiated as witnesses at the exchange ceremony of two Memorandums of Cooperation (MOCs) between Thailand and Singapore.
The agreements aim to enhance economic and public health cooperation, as well as to elevate bilateral relations on the occasion of the 60th anniversary of the establishment of diplomatic ties between the two countries.
China has extended its suspension on Thai syrup and processed sugar imports after concluding that none of the ten Thai manufacturing facilities surveyed complied with its stringent food safety regulations.
China’s exports contracted in October, driven by a sharp 25% drop in shipments to the United States. Customs data showed that China’s overall exports fell 1.1% year-on-year in October, marking the weakest outcome since February and reversing the 8.3% export growth recorded in September. Imports edged up just 1% from a year earlier, following a stronger 7.4% gain the prior month.
China’s exports of rare earth materials rose in October, reversing three consecutive months of decline. Shipments increased 9% from September, reaching 4,343.5 metric tons.
Furthermore, according to a Reuters report, China is working on a new rare earth licensing system aimed at streamlining export procedures, possibly allowing for larger export volumes over a one-year period.
