# Market Roundup 28 August 2024: U.S. stock markets declined compared to Asian markets

- Link: https://www.thailand-business-news.com/markets/158992-market-roundup-28-august-2024-u-s-stock-markets-declined-compared-to-asian-markets
- Published: 2024-08-29T09:48:26+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index closed at 1,365.72 points, representing a 0.10% increase.
Analysts have observed limited trading activity due to decreased political uncertainty,
but the economic growth forecast remains modest.**

 * **📈 Thailand Stock Market Performance** On August 28, 2024, Thailand’s SET Index
   closed at 1,365.72 points, reflecting a slight increase of 1.41 points or 0.10%,
   with a trading volume of 43.08 billion baht. This indicates a relatively stable
   trading atmosphere amidst reduced political uncertainties in the country.
 * **📉 U.S. Markets Decline** On the same day, the U.S. stock market saw a decline,
   with the Nasdaq Composite dropping 1.1% and the S&P 500 decreasing by 0.6%, which
   highlights a mixed sentiment in the global markets.
 * **🔍 Overall Market Trends** Analysts suggest that the trading activities in 
   Thailand are influenced by speculative sales, while U.S. market fluctuations 
   are linked to broader economic concerns, demonstrating the interconnectedness
   of global financial markets.

## SET Index Slightly Rises Amid Speculative Sales

Thailand’s SET Index closed at 1,365.72 points, increasing by 1.41 points or 0.10%
with a trading value of 43.08 billion baht. An analyst indicated that the narrow
trading was due to speculative sales and reduced political uncertainties. Investors
are closely monitoring the new cabinet formation and upcoming policy announcements,
with expectations of sideways market trading tomorrow.

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On August 28, 2024, the performance of U.S. stock markets showed a decline compared
to Asian markets:

 * **U.S. Markets:**
 * **Nasdaq Composite:** Decreased by 1.1%.
 * **S&P 500:** Fell by 0.6%.
 * The decline was attributed to broader economic concerns and mixed investor sentiment.
 * **Asian Markets:**
 * **Thailand’s SET Index:** Closed at 1,365.72 points, with a slight increase of
   0.10% (1.41 points up).
 * Other Asian markets, such as Hong Kong’s Hang Seng Index and Japan’s Nikkei, 
   also showed resilience, with some gains amidst a generally stable trading atmosphere.

Overall, while U.S. markets faced downward pressure, Asian markets, particularly
Thailand’s, exhibited stability or slight growth, reflecting differing regional 
economic conditions and investor sentiments.

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## Economic Outlook and Inflation Trends

Thailand’s caretaker deputy finance minister, Paopoom Rojanasakul, noted that economic
recovery signs are appearing, but growth hasn’t reached its potential.

The country is projected to grow between 2.3% and 2.8% this year. The Bank of Thailand
forecasts a 2.6% growth, with an increase to 3% by 2025, highlighting the need for
higher growth rates.

Meanwhile, Australia’s monthly inflation index showed a slight decrease, with consumer
prices rising by 3.5%, indicating easing price pressures. The trimmed mean core 
measure decreased to 3.8%, reflecting gradual economic adjustments.