# Market Roundup 11 September 2024: SET Index dropped to 1,415.41 points, down 0.88%

- Link: https://www.thailand-business-news.com/markets/161949-market-roundup-11-september-2024-set-index-dropped-to-1415-41-points-down-0-88
- Published: 2024-09-12T10:26:32+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index dropped 12.62 points due to energy stock selloff and profit-
taking in major stocks. Global markets remain attentive to US inflation data and
potential Federal Reserve rate changes, while EU companies in China show decreased
investment willingness. OPEC lowered oil demand forecasts; Trump-Harris debate impacts
betting odds. UK economy stagnates with varied sector performance.**

## Thailand Stock Market Decline

Thailand’s SET Index dropped to 1,415.41 points, down by 12.62 points or 0.88%, 
with a trading value of 73.98 billion baht. Analysts attributed the decline to a
selloff in energy and oil refinery stocks following a slump in oil prices. Additionally,
profit-taking in prominent stocks like SCC and retail stocks further pressured the
index.

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Investors remained focused on upcoming US inflation data, fearing that poor results
could prompt the US Federal Reserve to consider an interest rate cut, potentially
redirecting investments to the ASEAN region.

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## European Market and Oil Projections

European firms in China express doubt over the government’s capacity to stimulate
demand or carry out reforms, resulting in a decline in investment interest. Concurrently,
OPEC has revised its global oil demand growth projection for 2024 downwards, signifying
its second successive amendment.

This reflects the group’s challenge to stabilize the market amid recent oil price
drops. In the U.S., after a presidential debate, betting odds for Donald Trump and
Kamala Harris are tied, while Harris’ win probability has increased according to
polls. Additionally, the UK economy showed no month-on-month growth in July, with
slight improvements in the services sector but declines in production and construction
output. Over three months, the UK’s economic growth was 0.5%.