Market Roundup 13 September 2024: Thailand’s SET at 1,424.39 up 0.20%, waiting for FED rate cut
Thailand’s SET Index rose 0.20%. Analysts await Fed’s rate cut decision. China plans mortgage rate cuts to boost the economy. SpaceX completed the world’s first private spacewalk. BTS expects THB 14 billion payment.
Thailand’s Stock Market and Economic Outlook
Thailand’s SET Index closed slightly higher at 1,424.39 points, up 0.20% with a trading value of 53.8 billion baht. An analyst reported that the market moved narrowly following recent positive trends and is now awaiting the Fed’s upcoming meeting, speculated to cut rates by 25 basis points.
Investors should keep an eye out for new stimulus packages to be discussed at the upcoming Thai cabinet meeting next week.
Global Economic Developments and Space Milestones
China plans to reduce interest rates on over $5 trillion of mortgages to stimulate its economy. Banks are preparing for rate cuts, potentially up to 50 basis points, benefiting homeowners.
Meanwhile, SpaceX completed the first private spacewalk, with astronauts testing new spacesuits and Crew Dragon capsule capabilities, aiming for future Mars missions. Additionally, BTS expects a prompt resolution of the THB 14 billion outstanding fee from its Green Line train operations.
Global Market Roundup: 13 September 2024
Global markets experienced a mixed session on Wednesday, September 13th, 2024, with investors weighing economic data and ongoing geopolitical concerns.
US stocks closed mixed, with the Dow Jones Industrial Average rising slightly while the S&P 500 and NASDAQ Composite dipped. The gains in the Dow were attributed to a strong performance in the energy sector, driven by rising oil prices. However, tech stocks struggled as investors awaited key inflation data due out later this week.
European markets ended the day lower, with the pan-European STOXX 600 index falling by 0.5%. The decline was attributed to concerns about the economic outlook in the eurozone, particularly after Germany’s disappointing manufacturing data released earlier this week.
Asian markets were generally positive, with Japan’s Nikkei 225 index closing up by 0.8%. The gains were fueled by a weaker yen, which boosted exporters, and optimistic economic data released in Japan.
In the commodity markets, oil prices climbed on a combination of supply concerns and expectations for continued strong demand. Gold prices rose, driven by safe-haven demand as investors sought refuge in the precious metal amidst economic uncertainty.
Looking ahead, investors will be watching for key economic data releases this week, including US inflation figures and the minutes of the latest Federal Reserve meeting. The data will give insights into the health of the US economy. It will also provide information on the Fed’s future policy course. These insights could impact market sentiment.
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