# Market Roundup 15 July 2024

- Link: https://www.thailand-business-news.com/markets/151517-market-roundup-15-july-2024
- Published: 2024-07-16T10:08:36+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index dropped due to a selloff in bank stocks, driven by concerns
over EA’s debt situation. Despite this, there are still hopes for potential Fed 
rate cuts. China’s Q2 2024 economic growth fell short of expectations, growing by
4.7% instead of the anticipated 5.1%. Analysts are predicting a landslide victory
for Donald Trump in the 2024 election following an assassination attempt. Additionally,
the Stock Exchange of Thailand has requested EA to clarify the financial impact 
of its debt obligations.**

## Thai Stock Market Update

Thailand’s SET Index closed at 1,327.43 points, down by 4.61 points or 0.35%, with
a trading value of 33.60 billion baht. Analysts attribute the market’s decline to
a selloff in bank stocks due to investor concerns over EA’s debt issues. Nonetheless,
there was a slight uptick in purchasing from stocks unaffected by this situation
towards the trading session’s end. The market is expected to trade within limitations,
driven by hopes for Fed rate cuts.

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## Economic Growth and Political Forecasts

China’s economy experienced a 4.7% growth in the second quarter of 2024, which was
lower than analysts’ prediction of 5.1%. This growth rate was also slightly less
than the 5.3% growth reported in the previous quarter. The lower-than-expected growth
reflects persistent challenges in domestic demand, particularly due to a prolonged
slowdown in the property market. This slowdown has had a significant impact on overall
economic performance, leading to the reported growth being below expectations.

Separately, analysts predict Donald Trump will win the 2024 Presidential Election
decisively after surviving a July assassination attempt, likening it to Ronald Reagan’s
surge in popularity post-1981 attempt. The SET has marked EA’s securities with an“
SP” for clarification on outstanding debts and repayment directives impacting business
management.