Thailand’s SET Index closed at 1,269.26 points, decreased 18.18 points or 1.41%, with a trading value of THB 32.02 billion. The analyst stated that the Thai market plunged partly due to the Sell-on-fact activity on big-cap stocks after the release of earnings reports.
The downward trend also mirrored overseas markets from concerns over the decreasing prospect of Federal Reserve rate cuts, even with the conclusion of the U.S. government shutdown.
For next week, the analyst expects the Thai market to trade sideways.
Chinese President Xi Jinping welcomed Thailand’s King Maha Vajiralongkorn and Queen Suthida with an elaborate ceremony in Beijing on Friday, marking the first official visit by a Thai monarch since the two nations established diplomatic relations half a century ago.
The state visit, held at Beijing’s Great Hall of the People, underscores China’s ambition to reinforce its image as a trustworthy neighbor and economic ally at a time of growing regional competition.
While accompanying the King and Queen on their official visit to China, Thai Prime Minister and Interior Minister Anutin Charnvirakul had announced on his personal Facebook page in Thai that China will buy 500,000 tons of Thai rice.
China’s industrial output and retail sales recorded their slowest growth in more than a year this October, underscoring the increasing pressure on Beijing to overhaul an economy valued at $19 trillion. As policy options to spur growth narrow, both supply- and demand-side challenges have raised concerns over China’s trajectory.
The United States and South Korea have formalized a sweeping trade agreement involving $350 billion in Korean investment, prioritizing America’s shipbuilding and industrial sectors.
The move follows an October summit between U.S. President Donald Trump and South Korean President Lee Jae Myung, resulting in a bilateral accord to reduce U.S. tariffs on South Korean exports to 15%, down from 25%.
