# Market Roundup 9 September 2024: China’s CPI growth missed forecasts

- Link: https://www.thailand-business-news.com/markets/161352-market-roundup-9-september-2024-chinas-cpi-growth-missed-forecasts
- Published: 2024-09-10T10:01:04+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index rose slightly amid slower momentum and subdued Asian sentiment
due to US job data concerns, with sideways trading expected. China’s CPI growth 
missed forecasts, while Japan’s GDP fell short of estimates. U.S. Treasury Secretary
Yellen reassured on economic strength despite job growth slowdown.**

**Here’s a summary of key market movements:**

ADVERTISEMENT

 * **Thailand’s SET Index** closed at 1,431.13 points, up 0.24%, with a trading 
   volume of 87.21 billion baht.
 * **The S&P 500** ended the week down 4.3%, marking its worst week since March 
   2023.
 * **The Nasdaq** closed down 5.8% for the week.
 * **The Dow Jones Industrial Average** rallied nearly 500 points, gaining over 
   1% to start the week.
 * **The JSE** was mainly higher, with the All Share index up by half a percent.
 * **Wall Street** surged following European stock gains fueled by rate cut hopes.

**Key trends and developments observed:**

 * **The Federal Reserve’s upcoming rate cuts** are expected to influence investment
   strategies, prompting investors to reassess their portfolios.
 * **Trading volume flowed towards the SETESG index** in Thailand, anticipating 
   the launch of the new “Vayupak Fund” in October.
 * **Financial and tech stocks** contributed to the Dow Jones’ gains.
 * **Concerns about September’s economic performance** and upcoming data releases
   are influencing market sentiment.

## Thai Stock Market Overview

Thailand’s SET Index closed at 1,431.13 points, rising by 3.49 points or 0.24%, 
with a trading value of 87.21 billion baht. Analysts noted a slowdown in the market’s
upward momentum after a consistent rise the previous week. This trend was influenced
by weak market sentiment in Asia, spurred by disappointing US job data, raising 
fears of a potential economic recession. Investors also remained cautious, awaiting
the first debate featuring Donald Trump and Kamala Harris. The analyst expects the
Thai market to trade sideways tomorrow.

### Related**Posts**

###  󠀁[Thailand Business News — Morning Briefing](https://www.thailand-business-news.com/banking/337929-thailand-business-news-morning-briefing-5)󠁿

###  󠀁[Thailand Business News — Morning Briefing | 29 October 2026 | Thailand, ASEAN and Global Markets](https://www.thailand-business-news.com/markets/commodities/337096-thailand-business-news-morning-briefing-29-october-2026-thailand-asean-and-global-markets)󠁿

###  󠀁[Thailand, ASEAN and Asian Markets — Morning Briefing](https://www.thailand-business-news.com/china/336918-thailand-asean-and-asian-markets-morning-briefing)󠁿

###  󠀁[Anthropic’s S-1 filing sparks global AI rebound, sending Asian tech stocks soaring](https://www.thailand-business-news.com/markets/336880-anthropics-s-1-filing-sparks-global-ai-rebound-sending-asian-tech-stocks-soaring)󠁿

## China’s CPI growth missed forecasts

Key information regarding China’s CPI growth:

 * **August 2024:** CPI rose by 0.6% month-on-month, missing expectations of 0.71%
   growth.
 * **Previous months:** Similar trends of subdued CPI growth have been observed 
   in previous months, such as June (0.2% growth, missing expectations of 0.4%) 
   and July (0.4% growth, missing expectations of 0.5%).
 * **Reason:** Lackluster domestic demand since the pandemic is cited as a key contributor
   to the subdued inflation.
 * **Consequences:** The missed forecasts have raised concerns about deflation and
   potential impacts on China’s economic growth, which is already expected to fall
   below the official target of around 5%.

Several factors are contributing to China’s subdued consumer prices:

 1. **Weak Domestic Demand**: Consumer spending has not fully recovered post-pandemic,
    leading to lower demand for goods and services.
 2. **Economic Slowdown**: Slower economic growth rates have resulted in reduced consumption
    and investment, impacting overall demand.
 3. **Deflationary Pressures**: There are concerns about deflation, which can lead 
    consumers to delay purchases in anticipation of lower prices in the future.
 4. **High Savings Rates**: Many consumers are saving more instead of spending, reflecting
    uncertainty about the economy.
 5. **Supply Chain Issues**: While some supply chain disruptions have eased, lingering
    issues can affect pricing and availability of products.
 6. **Government Policies**: Measures aimed at stabilizing the economy, such as tightening
    regulations in certain sectors, can also dampen consumer spending.
 7. **Global Economic Conditions**: External factors, including global inflation and
    economic uncertainty, can influence domestic price levels.

### Global Economic Indicators

China’s consumer price index (CPI) increased by 0.6% year-on-year in August, below
the expected 0.7%, due to price declines in transportation, home goods, and rents.
Despite a 2.8% rise in food prices, moderate CPI growth was observed. Japan’s second-
quarter economic growth also fell short, growing at an annualized rate of 2.9%, 
below the forecasted 3.2%. U.S. Treasury Secretary Janet Yellen reassured the public
about the U.S. economy’s strength amid concerns over disappointing job reports, 
emphasizing that the economy is recovering and near full employment.