Thailand’s SET Index closed at 1,616.88 points, increased 5.60 points or 0.35%, with a trading value of THB 66.13 billion. The analyst stated that the Thai market climbed along with regional markets’ trend, with funds rotating from the tech sector toward Domestic Play stocks.
Notably, there were profit-taking pressures from the banking sector, while capital went into the power plant, food, and exports stocks.
For tomorrow, the analyst expects the Thai market to move sideways within range as investors await the Constitution Court’s consideration of the THB 400 billion Emergency Loan Decree on July 9.
Thailand’s headline inflation for June stood at 2.42% year-on-year, easing from the previous month and coming in better than market expectations of 2.87%. Furthermore, core inflation, which excludes raw food and energy, was reported at 1.23% year-on-year—slightly above market expectations of 1.1%, and higher than the previous month’s figure of 0.92%.
OPEC+ announced a new increase to oil production targets for August, raising quotas to help bolster global supply as oil prices continue to ease. The decision follows ongoing recovery efforts after disruptions linked to the closure of the Strait of Hormuz.
Public safety concerns have resurfaced after the ASEAN Iron & Steel Council (AISC) recommended a critical reassessment of steel produced via induction furnace technology for use in construction. The move follows increased scrutiny of steel production methods in the wake of the recent Mindanao earthquake.
