Thailand’s SET Index increased by 0.18% to 1,319.14 points, buoyed by supportive measures and anticipated capital inflows. Meanwhile, the US is investigating Chinese telecom firms over data transfer concerns. Additionally, Thailand’s car production experienced a year-over-year decline of 16.88%.
- 🌇 Market Overview The global stock markets saw mixed performance on June 25, 2024, with some indexes like Thailand’s SET Index closing higher while others were flat or down. The technology sector, represented by Nvidia Corp., saw gains in premarket trading.
- 💰 Money Market Rates Money market accounts with a $10,000 minimum balance are currently offering an average APY of 0.60%, slightly lower than the previous week. The highest rate available is being offered by select financial institutions.
- 📊 Stock Market Recap U.S. stock markets closed mixed on Monday, June 25, 2024, as the major indexes fluctuated throughout the trading day. Some sectors, like technology, saw gains, while others remained relatively flat.
Thai Stock Market Gains
Thailand’s SET Index closed at 1,319.14 points, a rise of 2.41 points or 0.18%, with a trading volume of 39.34 billion baht. Analysts attribute this increase to measures boosting market confidence and capital inflows. The reduced risks could lead to further gains, although volatility is expected.
US Investigates Chinese Telecom Firms
The US is investigating Chinese state-controlled telecom companies for potential data transfers to Beijing via US cloud services. The Commerce Department has subpoenaed China Mobile Ltd., China Telecom Corp., and China Unicom, though progress on China Unicom remains minimal.
Decline in Thai Car Production
The Federation of Thai Industries reported a 16.19% decrease in May’s car production compared to last year, producing 126,161 units. The slowdown is largely due to reduced pickup truck manufacturing. From January to May, car production fell by 16.88% year-on-year, totaling 644,951 units.
