Thailand’s SET Index closed at 1,585.06 points, decreased 2.01 points or 0.13%, with a trading value of THB 68.10 billion. The analyst stated that the Thai market moved sideways within range and slightly declined at the end of the session, potentially a technical slowdown for consolidation.
The market lacked support from the heavyweight stocks, especially among the electronics parts sector, while also facing short-term pressures from the hawkish stance of the new U.S. Federal Reserve chair.
For tomorrow, the analyst expects the Thai market to continue trading in a sideways range-bound pattern.
The United States and Iran have entered into a memorandum of understanding that includes reopening the Strait of Hormuz and working toward a broader agreement on a range of unresolved issues. The document took effect on Wednesday following digital signatures from both nations.
The Federal Reserve opted to leave interest rates unchanged on Wednesday, marking the first policy decision under the leadership of Chairman Kevin Warsh. While the benchmark rate remains in a range of 3.5% to 3.75%, internal projections suggest a growing inclination among officials to resume tightening later this year to combat persistent price pressures.
Thailand’s Ministry of Transport is currently preparing to propose a joint ticketing scheme, which would set the fare at a range of THB 17-45, by gathering opinions from various state agencies on the draft before including it in the Cabinet’s agenda for consideration.
