Thailand’s SET Index closed at 1,260.68 points, decreased 12.72 points or 1.00%, with a trading value of THB 30.83 billion. The analyst stated that the Thai market plunged from DELTA selling pressure, with oil-related stocks exhibiting losses due to the anticipation of a ceasefire between Russia and Ukraine. Furthermore, a downward trend was also seen in the petrochemical sector following weak Chinese economic figures.
The analyst expects the Thai market to move sideways-down tomorrow.
Following the cabinet meeting, Thailand’s Prime Minister and Minister of Interior Anutin Charnvirakul addressed the prospects for the second phase of the short-term economic stimulus program, the ‘Half-Half Plus’ co-payment scheme.
He stated that due to rules and limitations imposed by the House dissolution, the government cannot allocate funds from the central budget at this time and must wait for the government to return to normal operations before proceeding.
China announced that it will lower duties on pork and pig by-product imports from the European Union, bringing to a close a year-long anti-dumping investigation into European pork shipments.
The revised tariffs, set between 4.9% and 19.8% for a range of European pork exporters, will take effect Wednesday and remain in place for five years.
Kevin Hassett, the head of the National Economic Council, indicated that while he would take President Donald Trump’s perspectives into account if appointed to lead the Federal Reserve, the central bank’s interest rate decisions would continue to be determined independently, with its Board of Governors and the Federal Open Market Committee developing a group consensus on the direction of interest rates.
