Thailand’s SET Index rose by 0.46% amid political uncertainty and earnings reports. Japan’s core machinery orders dropped. Thai consumer confidence fell due to economic and political concerns.
Thai Stock Market Performance
Thailand’s SET Index rose by 0.46% amid investor vigilance on political uncertainties and earnings reports. Japan’s core machinery orders dropped unexpectedly. Thai consumer confidence fell due to economic and political concerns.
On July 11, 2024, Thailand’s SET Index closed at 1,329.37 points, marking an increase of 6.09 points or 0.46%. The trading value for the day was 40.29 billion baht. There is speculation that a potential decline in U.S. inflation figures could lead to a Federal Reserve interest rate cut in September. Domestically, investors were attentive to political uncertainties, second-quarter 2024 earnings disclosures from banks, and advancements related to the TESG fund’s inclusion in the cabinet. Analysts expect the market to trade sideways tomorrow.
Total Trading Value of Stocks and Bonds on 11 July 2024
Daily as of 11 July 2024
| Investor Type | BUY | SELL | NET |
| Local Institutions | 4,003.06 | 4,883.59 | -880.53 |
| Proprietary Trading | 2,456.64 | 2,681.73 | -225.08 |
| Foreign Investors | 18,336.68 | 18,920.75 | -584.06 |
| Local Individuals | 15,502.10 | 13,812.42 | 1,689.68 |
Global Economic Observations
Japan’s core machinery orders fell for the second consecutive month in May, raising concerns about capital expenditure and a sustainable recovery for the Bank of Japan. The volatile capital spending indicator declined by 3.2% month-on-month in May. Meanwhile, Treasury’s Undersecretary Jay Shambaugh emphasized new approaches to protect American industries from China’s excessive industrial output. Thai consumer confidence declined for the fourth month, attributed to economic and political uncertainties. The U.K. economy expanded by 0.4% in May, surpassing expectations and boosting the British pound.
Source : Market Roundup 11 July 2024