# Thailand’s SET Index rose by 1.30% due to big-cap stock purchases, bucking Asian market trends

- Link: https://www.thailand-business-news.com/markets/172568-thailands-set-index-rose-by-1-30-due-to-big-cap-stock-purchases-bucking-asian-market-trends
- Published: 2024-11-01T16:35:57+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index rose by 1.30% due to big-cap stock purchases, bucking Asian
market trends. Thailand’s economy is projected to grow 3% in 2025, driven by consumption,
exports, and tourism. The Bank of Japan maintains interest rates, while the UK raises
capital gains tax.**

## Thai Stock Market and Economic Outlook: Market Roundup 31 October

The SET Index in Thailand closed at 1,466.04 points, up 18.84 points or 1.30%, with
a trading value of 42.73 billion baht. An analyst noted that this uptick reflects
a technical rebound against falling trends in other Asian markets. The rise was 
fueled by purchases of big-cap stocks like DELTA, ADVANC, GULF, and PTTEP. Looking
ahead, the analyst predicts that the Thai market will likely trade sideways. The
finance ministry anticipates economic growth of 3% by 2025, driven by private consumption,
exports, investment, and tourism.

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## Global Financial and Economic Developments

On the global front, the Bank of Japan decided to keep its interest rates steady,
predicting inflation near the 2% target, suggesting a gradual withdrawal of its 
monetary aid. Meanwhile, UK Finance Minister Rachel Reeves announced an increase
in the capital gains tax—from 10% to 18% at the lower rate, and from 20% to 24% 
for higher earners—to align with property tax rates. This change is expected to 
generate GBP 2.5 billion in additional revenue, stabilizing fiscal conditions.

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