# Market Roundup 26 August 2024

- Link: https://www.thailand-business-news.com/markets/158513-market-roundup-26-august-2024
- Published: 2024-08-27T10:01:28+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index increased by 0.73% as a result of speculative buying driven
by signals of a US interest rate cut and domestic factors. Employment in Thailand
decreased by 0.4% in Q2 2024, with a 5% decline in agricultural jobs leading the
way.**

## Thailand Stock Market Gains

Thailand’s SET Index closed at 1,364.81 points, rising by 9.94 points or 0.73%, 
with a trading value of 47.33 billion baht. Analysts attributed the gains to speculative
buying driven by signals of rate cuts from the US Federal Reserve, the appreciation
of the Thai baht, and the forthcoming Vayupak Mutual Fund launch in Q4 2024. Domestic
play stocks also played a significant role. However, analysts predict a limited 
upside in the market the following day.

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## Economic and Policy Updates

In Q2 2024, Thailand’s employment fell by 0.4% year-on-year due to a decrease in
agricultural jobs. Agricultural employment dropped by 5%, while non-farm employment
rose by 1.5%. Goldman Sachs speculates a possible 50bps rate cut by the US Federal
Reserve in September if the employment report remains weak. Meanwhile, the People’s
Bank of China kept its key interest rate steady at 2.3% to manage a bond frenzy 
and ensure economic stability, withdrawing a net 101 billion yuan from the banking
system.

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