Trading troubles: Thai stock market feels pinch of political uncertainties amid global rate rumbles

The Thai stock market remains under pressure from domestic political uncertainties, despite a halt in US interest rate hikes and a recent rate cut in China. The Stock Exchange of Thailand (SET) index continued its downward trend, closing at 1,557.71 points, a 0.22% decrease from the previous day.

In contrast, several Asian stock markets experienced gains, with Hong Kong’s Hang Seng Index surging by 2.17%. The Shenzhen Components and Shanghai Composite also experienced growth, with increases of 1.8% and 0.74% respectively, spurred by both short- and medium-term rate cuts from the People’s Bank of China.

However, political uncertainties loom over the Thai index, which has lost approximately 6% year-to-date. Kitpon Praipaisarnkit, Vice-President of UOB Kay Hian Securities Thailand, expressed concern over local political instability, stating that the Thai…