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Thursday, May 2, 2024

Thai stocks decline again despite US rate hike pause

An investor looks at a stock display board in a trading room. (Photo: Pornprom Sarttarpai)

Domestic political uncertainties continue to weigh on the Thai stock market, with the Stock Exchange of Thailand (SET) index sliding further yesterday, ignoring the pause in US interest rate hikes and Beijing’s fresh rate cut.

Hong Kong’s Hang Seng Index led regional gains, jumping 2.17%, while the Shenzhen Components and Shanghai Composite rose 1.8% and 0.74%, respectively.

The increases were mainly spurred by the People’s Bank of China’s rate cut on its medium-term loans, following a decrease in the bank’s short-term loan rates earlier this week.

Japan’s Nikkei edged down by 0.05% after trading higher for most of the day, while South…

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