Market Roundup 22 November 2024

Thailand’s SET Index climbed 0.41%, driven by easing political tensions and a surge in energy stock purchases. Meanwhile, Japan’s inflation trends and Canadian Prime Minister Trudeau’s relief package are poised to influence their respective economies.

Thai Stock Market Surges Despite Political Tensions

Thailand’s SET Index closed at 1,446.30, rising by 5.84 points or 0.41%, with a trading value of 45.65 billion baht. Initially trading sideways, the market saw a surge due to reduced political tensions after the Constitutional Court dismissed a petition against former Prime Minister Thaksin Shinawatra and the Pheu Thai Party.

Investments shifted from DELTA to other stocks, including NewCo. Rising oil prices boosted energy stocks. Analysts anticipate market recovery in the coming week, citing resilience above the 1,444-point threshold.

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Global Economic Highlights and Political Developments

Japan’s headline inflation fell to a 10-month low of 2.3% in October, slightly above economists’ forecast of 2.2%, suggesting continued lenient monetary policy from its central bank. Canadian Prime Minister Justin Trudeau announced a C$6.3 billion affordability package, including temporary federal sales tax relief and a C$250 rebate for 18 million Canadians, with support from the opposition party NDP, reducing the risk of early elections.