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SET jumps over 1500 as US inflation cools down
Asian markets rose for a fifth consecutive day as US inflation cooled, raising speculation that the Federal Reserve may pause interest rate increases.
Thai shares also rallied despite ongoing political uncertainty. The SET Index fluctuated this week between 1,482.21 and 1,519.08 points, finishing yesterday at 1,517.92, up 1.84% from the previous week, on average 41.95 billion baht in daily trade.
The market optimism extended beyond Asia, with European markets also seeing gains. Investors are closely monitoring the US inflation data, as it could influence central bank decisions and global market trends.
Meanwhile, the situation in Thailand remains uncertain, with political developments adding to the volatility in the local stock market. Despite these challenges, the Thai shares managed to rally, reflecting a positive sentiment among investors. The SET Index displayed a range of fluctuations throughout the week, but closed higher compared to the previous week.
Thai rice exports may rise by 17% this year due to concerns over the El Niño
In addition to the positive momentum in the Asian markets and the cooling US inflation, there are several other factors contributing to the potential rise in Thai rice exports. The El Niño weather phenomenon has sparked concerns about crop yields in various regions around the world, leading to an increased demand for Thai rice.
Thai rice is known for its high quality and diverse varieties, making it a popular choice for many consumers worldwide. This, coupled with the country’s efficient production and distribution systems, positions Thailand as a key player in the global rice market.
Furthermore, the Thai government has been actively implementing policies to support and promote rice exports. This includes providing financial incentives to farmers, investing in agricultural infrastructure, and establishing trade agreements with partner countries.
All these factors combined are anticipated to contribute to a significant rise in Thai rice exports this year. The projected increase of 17% reflects the growing demand for Thai rice and the potential for the country to strengthen its position as a leading exporter in the global market.
As the year progresses, it will be interesting to monitor how the Thai rice industry adapts to the changing weather patterns and navigates the global trade landscape. The success of Thai rice exports will not only benefit the country’s economy but also showcase the resilience and expertise of Thailand’s agricultural sector.
The Bank of Thailand warns of increasing online financial fraud
The Bank of Thailand has recently issued a warning about the rising threat of online financial fraud. As more people rely on digital platforms for their banking needs, criminals are finding new ways to exploit vulnerabilities and deceive unsuspecting individuals.
With the growing popularity of online banking and mobile payment systems, it has become imperative for both financial institutions and users to remain vigilant and take necessary precautions. The Bank of Thailand is actively working with banks and other stakeholders to enhance digital security measures and educate the public about the risks associated with online transactions.
One of the primary concerns highlighted by the Bank of Thailand is phishing scams, where criminals trick individuals into revealing their personal information, such as login credentials and credit card details. These scammers often impersonate reputable organizations through fraudulent emails, text messages, or fake websites.
Alongside phishing, the Bank of Thailand has also observed an increase in investment scams and fraudulent cryptocurrency schemes. These fraudulent activities prey on the desire for quick financial gains, often promising high returns with minimal risk. Users are encouraged to exercise due diligence and thoroughly research any investment opportunities before committing their funds.
In the face of ever-evolving cyber threats, the collaboration between financial institutions, regulatory bodies, and users will be instrumental in mitigating the risks associated with online financial fraud and ensuring the continued growth of Thailand’s digital economy.
Bitkub Capital Group laid off 5.5% of its personnel to cut costs. Central Pattana, Central Retail, and Centara Hotels and Resorts partnered with J Front Retailing. The national AI committee will request a budget allocation for AI job creation. Banpu Power
Chinese exports fell for a second straight month, indicating weak external demand and slowing domestic growth. Vehicle sales in China grew by 9.8% in the first half of the year.
The number of corporate bankruptcies in Japan reached a five-year high due to increased debt during the pandemic. Foxconn pulled out of a joint venture with Vedanta Group to produce semiconductors in India. LG Electronics aims to double its automotive components sales by 2030.
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