Thailand’s SET Index closed at 1,465.70 points, decreasing by 32.29 points or 2.16%, with a trading value of THB 79.43 billion. The analyst stated that the Thai stock market tracked heavy losses with the global markets, as investors raised concerns over the delay of AI and data center development—potentially affecting the global economy—following a Democratic midterm win.
Further pressuring the indices were the persisting risks surrounding the U.S.-Iran conflicts, which remain highly uncertain. Domestically, the Thai bourse was mainly impacted by electronics sector sell-offs, with pressure spreading over most of the other sectors.
For next week, the analyst anticipates continued volatility in the market, with a potential for a technical rebound. Investors are recommended to monitor tonight’s U.S. nonfarm payrolls.
Thailand recorded annual headline inflation of 3.9% in October, with increases in oil, food and transport costs lifting the rate to its highest in almost four years. Figures published Friday by the Commerce Ministry showed an acceleration from September’s 2.82%, taking inflation above the central bank’s target.
The October result marked the first breach of the Bank of Thailand’s 1%-3% band in almost four years. It also surpassed forecasts in economist surveys of 3.24% in a Reuters poll.
