# Market Roundup 25 July 2024

- Link: https://www.thailand-business-news.com/markets/153563-market-roundup-25-july-2024
- Published: 2024-07-26T14:16:57+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index declined by 0.50% in response to global market trends and
the US tech earnings miss. Car production decreased by 20.11% in June. China reduced
lending rates in an effort to stimulate the economy, while South Korea suggested
tax reforms to promote growth.**

## Thailand’s Stock Market Performance

Thailand’s SET Index closed at 1,291.58 points, declining by 6.50 points or 0.50%
with a trading value of 34.12 billion baht. Analysts noted this decrease aligned
with global markets, impacted by disappointing 2Q24 earnings from US tech stocks.
Domestically, investor sentiment was cautious ahead of Prime Minister Srettha Thavisin’s
August 14 decisions, and underwhelming bank earnings also played a role. The market
is expected to remain range-bound in the near term.

ADVERTISEMENT

Thailand’s car production saw a substantial drop in June 2024, falling by 20.11%
year-over-year to 145,557 units due to reduced pickup truck output and stricter 
financing conditions. Though car exports saw a slight improvement of 0.28%, domestic
sales suffered considerably.

### Related**Posts**

###  󠀁[Asian stocks retreat as oil rises above $100 and investors reassess global rate risks](https://www.thailand-business-news.com/markets/333019-asian-stocks-retreat-as-oil-rises-above-100-and-investors-reassess-global-rate-risks)󠁿

###  󠀁[Asian markets hold up despite bond rout as US yields enter a structurally higher regime](https://www.thailand-business-news.com/markets/332037-asian-markets-hold-up-despite-bond-rout-as-us-yields-enter-a-structurally-higher-regime)󠁿

###  󠀁[Local Influences and Return Chasing: Entering a New Era in Emerging Equity Markets](https://www.thailand-business-news.com/markets/329573-local-influences-and-return-chasing-entering-a-new-era-in-emerging-equity-markets)󠁿

###  󠀁[Thailand faces a fresh LNG squeeze as Hormuz crisis pushes prices toward US$28/MMBtu](https://www.thailand-business-news.com/markets/commodities/330458-thailand-faces-a-fresh-lng-squeeze-as-hormuz-crisis-pushes-prices-toward-us28-mmbtu)󠁿

## Economic Moves in China and South Korea

China’s central bank took unexpected monetary steps to bolster the economy, cutting
the medium-term lending facility (MLF) rate to 2.30% and releasing 200 billion yuan(
$27.5 billion) in one-year loans. This was the PBOC’s second surprise action within
a week, aimed at counteracting sharp stock market declines.

South Korea introduced proposed tax benefits to support its economy amid challenges
from an aging population and weak consumption. Changes include lowering the inheritance
tax ceiling from 50% to 40% and removing additional burdens on controlling shareholders.
Despite a projected five-year revenue reduction of 4.4 trillion won, Finance Minister
Choi Sang-mok is optimistic about the reforms’ benefits, planning to submit proposals
to parliament post-approval in late August.