# Market Roundup 4 December 2024: SET fell 0.27% amid profit-taking ahead of US nonfarm payrolls

- Link: https://www.thailand-business-news.com/markets/179278-market-roundup-4-december-2024-set-fell-0-27-amid-profit-taking-ahead-of-us-nonfarm-payrolls
- Published: 2024-12-05T15:28:05+07:00
- Author: Abhishek Prakash

**Thailand’s SET Index fell 0.27% amid profit-taking ahead of US nonfarm payrolls.
Nvidia’s CEO noted AI’s importance for Thailand. Chinese chip firms adapt to US 
export controls. OECD forecasts steady global growth.**

## Thai Stock Market Update

Thailand’s SET Index ended at 1,450.82 points, slipping by 3.94 points or 0.27%,
with a trading volume of 37.95 billion baht. Analysts noted a sideways market trend
following a previous surge, with profit-taking observed. Investors are focused on
the upcoming US nonfarm payrolls report, which could influence the Federal Reserve’s
interest rate decisions.

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The Thai market will pause trading on Thursday for a public holiday, and is expected
to maintain narrow trading margins on Friday.

## Global Economic Outlook and Industry News

Nvidia’s CEO, Jensen Huang, met with Thailand’s Prime Minister to emphasize AI’s
crucial role in national progress. Huang praised Siam.AI for making AI accessible
in the Thai language through Open Thai GPT. Meanwhile, Chinese chip firms are fast-
tracking supply chain localization despite US export controls, leading to increased
semiconductor equipment imports worth $24.12 billion.

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The OECD foresees steady global economic growth of 3.2% in 2025 and 3.3% in 2026,
driven by inflation decline, job growth, and potential interest rate reductions.

As inflation decreases and employment opportunities expand, consumer confidence 
is expected to rise, contributing to increased spending and investment. Furthermore,
the potential for interest rate reductions could stimulate borrowing and business
expansion, further supporting economic growth. These factors combined suggest a 
positive outlook for global markets, encouraging both domestic and international
trade. As a result, businesses and governments may find new opportunities for collaboration
and innovation, driving sustainable development in various sectors.