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Stock Exchange of Thailand Index (SET)

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132 stories mentioning Stock Exchange of Thailand Index (SET)Updated 3d ago

Thai equities trade amid Middle East peace optimism, as 17 new depositary receipts on US and Hong Kong securities begin trading June 12.

Asia

Market Chatter: Thailand Accelerates EU Free-Trade Talks Amid US Tariff Uncertainty

Thailand is accelerating negotiations on a free-trade agreement with the European Union as it seeks to diversify trade ties amid uncertainty over U.S. tariffs, Bloomberg reported Tuesday, citing Thai Trade Representative Werapong Prapha."The reason why we're accelerating the EU FTA so much is because we want to diversify as quickly as possible," Werapong said in an interview.He reportedly added that Thailand aims to reduce its reliance on both Chinese and U.S. supply chains.Thailand is also negotiating tariff issues with the U.S. and hopes to secure treatment comparable to other Southeast Asian economies, according to the report.Prime Minister Anutin Charnvirakul's government is targeting an agreement with the EU by the end of the year. The bloc is Thailand's fourth-largest trading partner and a market of more than 450 million consumers, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Asia Week Ahead: Inflation Prints; GDP Estimates; and Trade Balance

For the week ahead in Asia, inflation, trade and growth data will be in focus as investors assess the region's economic momentum.The week opens with Japan's revised first-quarter GDP figures, followed by trade data from China and Taiwan on Tuesday.Mid-week, China's consumer and producer inflation reports will dominate headlines, while Japan will release producer price data.Thursday will be led by unemployment figures from South Korea and Malaysia, before Friday brings India's inflation report.Here's what to watch in the week ahead.MONDAY, June 8The week was off to a relatively light, but notable start with Japan's first-quarter GDP growth rate.Japan's economy expanded at an annualized rate of 1.8% in the first quarter, according to final data released by the Cabinet Office. The reading was revised down from the preliminary estimate of 2.1% growth, but exceeded the market consensus forecast for a 1.3% increase, according to Trading Economics.The data comes as attention turns to the Bank of Japan's June 15-16 policy meeting, where policymakers are expected to consider another interest-rate increase. The growth figures are unlikely to derail expectations for further policy tightening.TUESDAY, June 9Data readouts will pick up Tuesday, starting with China's trade figures for May.Economists at ING said they expect China's exports to rise 19.5% year-on year and imports to gain 36.4% for a trade surplus of $86.5 billion. The surplus would be an increase from the $84.8 billion recorded in April, thanks in part to higher tech prices, which are boosting both export and import prices, ING said.Taiwan will similarly report trade figures, with ING expecting the island nation's trade surplus to rise to $15.5 billion from $14.4 billion in April. "Strong export orders from previous months suggest external demand remains robust amid the AI boom," ING said in a preview.Markets will be watching for any revisions to South Korea's first-quarter GDP growth rate when the Bank of Korea releases its final estimate on Tuesday.The central bank's advance estimate indicated that South Korea's real GDP increased 3.6% annually and 1.7% on a quarterly basis.In Australia, a pair of reports will capture business and consumer sentiment, while in the Philippines, unemployment stats will be due.Other key data scheduled for the day include Japan's machine tool orders.WEDNESDAY, June 10China's consumer and producer price inflation will dominate headlines Wednesday.Consumer prices are expected to show an uptick of 1.3% year on year in May from 1.2% a month prior, reflecting higher manufacturers' input and output prices due to the Middle East conflict, the Wall Street Journal reported.Japan will similarly report its May producer prices, with analysts expecting the PPI to accelerate to 5.5% year on year from 4.9% in April, according to a Trading Economics consensus.Indonesia will release its May consumer confidence report on the same day.THURSDAY, June 11Unemployment data from South Korea and Malaysia will be the highlight of the day.According to Trading Economics, South Korea's unemployment rate could remain unchanged at 2.80% in May. The platform similarly forecasted that Malaysia's unemployment would remain steady at 2.90%, a level it has held since November 2025.A forward-looking report on consumer inflation expectations will be due in Australia. According to Trading Economics, consumer inflation expectations could rise to 6.5% for June from the 5.6% estimated in May.Meanwhile, Indonesia will report its retail sales stats for April.FRIDAY, June 12India's May inflation data will be in the news Friday.Economists at ING said they expect consumer prices to pick up to 3.9% year on year from the 3.48% recorded in the month prior due to a rise in gasoline prices. Still, the figure would be below the Reserve Bank of India's 4% target."The key risk to the outlook lies in potential second-round effects on food inflation. Fertiliser shortages, alongside the rising probability of an El Niño event, could exert upward pressure on food prices in the coming months and warrant close monitoring," ING said in a preview.Friday will also feature industrial production reports from Japan, Malaysia, and Hong Kong, with Malaysia additionally reporting its retail sales stats for April.In Thailand, the consumer confidence report for May will be due.On the activity front, the Business NZ manufacturing purchasing managers' index report will be due in New Zealand. CommBank said it expects manufacturing activity in May to stabilize, or even lift somewhat, given a decline in fuel prices over late April and May.The Business NZ PMI previously dropped to 50.5 in April from 52.8 in March.

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International

Thailand's Inflation Eases to 2.79% in May

Thailand's consumer price index rose 2.79% in May from a year earlier, easing from a 2.89% increase in April, the country's Trade Policy and Strategy Office said on Friday.The reading came in below analysts' expectations for a 3.90% increase, according to Investing.com data.The core inflation, which excludes volatile energy and fresh food prices, rose by 0.92% in May from a year earlier, faster than the 0.83% increase in April and against analysts' 0.9% consensus forecast.

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Asia

Market Chatter: Thailand's Gulf Development to Invest Up to 140 Billion Baht in Data Centers

Gulf Development plans to invest up to 140 billion baht over the next five years to expand data centers and digital infrastructure to meet growing demand for artificial intelligence and cloud computing, Bloomberg News reported Thursday, citing Chief Financial Officer Yupapin Wangviwat.Thailand's largest power producer aims to add up to 2,000 megawatts of data center capacity during the period, according to the report.The company and its partners currently operate facilities with a combined capacity of about 200 megawatts, Bloomberg added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Thai Business Confidence Pressured by Persian Gulf Hostilities
US Markets

Thai Business Confidence Pressured by Persian Gulf Hostilities

Higher fuel bills and the unresolved Strait of Hormuz closure undercut Thailand business confidence in May, reported the Bank of Thailand.Thailand's Business Sector Index fell to 42.5 in May from 43.5 in April, striking further below the 50-mark that separates optimism from pessimism."In May, the Business Sentiment Index (BSI) declined due to the prolonged Middle East conflict, which weakened the manufacturing index, while the non-manufacturing index remained stable at a low level," said the central bank. "High production cost was the top concern for doing business for the third consecutive month."Confidence especially waned in Thailand's petrochemical and plastics industries, which faced sharper higher bills in their feedstocks derived from crude oil, and also prospects of supply shortages.About 50% of Thailand's imported oil passed through the Strait of Hormuz, before the current conflict there closed the vital passageway, reported NBT World, a government news service.Confidence in Thailand's hotel and restaurant sector also declined, with sentiment sinking to the lowest level since the COVID-19 pandemic, as tourist arrivals slowed.Thailand's food and beverage industry confidence also waned, as producers were pressured by packaging costs that have risen by 30% to 50% "compared to the pre-conflict period," said Bank of Thailand. In addition, the food industry in May faced delayed orders from the Middle East, due in part to high freight rates.Thailand businesses in May expected inflation in the 2.7% range for the next 12 months, down from the 2.9% rate anticipated in April, though still up from the sub-2% rate expected before the closure of the Strait of Hormuz in late February.However, Thailand businesses were less pessimistic in May than in April, with the three-month expected business confidence index rising to 46.9 in May from 40.9 in April, though still striking below the 50-mark.In the manufacturing sector, "raw material shortages eased, despite high raw material price pressures," noted the Bank of Thailand, due in part to national government actions to release petroleum reserves.Among Thailand's service industries, the mood in the transportation sector in May improved due in part to better supplies and some ability of transporters to pass on higher fuel bills.The Bank of Thailand May BSI survey had more than 660 respondents, from large and medium-size firms. The questionnaires were distributed during the first week of May.

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International

Vietnam Extends Anti-Dumping Duties on Thai Sugar Products For Five More Years

Vietnam has extended anti-dumping and countervailing duties on selected sugar products from Thailand for another five years, the Ministry of Industry and Trade reported Wednesday.The decision to extend duties until June 15, 2031, came after a final review that found continued risk of dumping and harm to domestic producers.The ministry said its investigation, conducted under WTO rules and Vietnam's foreign trade law, showed earlier measures had helped restore domestic sugar production, improve farmer incomes, and stabilize supply chains, while sharply reducing imports from Thailand.However, it warned that lifting the duties could lead to renewed dumping pressures as price gaps persist.

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Asia

Several Asian Countries Face Additional US Tariffs Over Forced-Labor Trade Practices

Several Asian countries could soon face additional duties on some of their exports to the U.S. following Washington's probe into imports produced using forced labor, the Office of U.S. Trade Representative (USTR) said Tuesday.The USTR said Bangladesh, Cambodia, China, Hong Kong, India, Japan, Malaysia, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Indonesia, Pakistan, and Vietnam are among the 54 economies that have failed to impose and effectively enforce a forced-labor import ban.The USTR proposed a 10% additional tariff for economies that have partially enforced bans on the importation of certain forced-labor goods and a 12.5% tariff for the rest.

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Asia

USTR Flags 60 Economies Over Forced Labor Import Gaps, Proposes New Tariffs

The U.S. Trade Representative has concluded that 60 economies failed to properly ban or enforce restrictions on imports linked to forced labor, calling the practices harmful to fair global trade, the US Executive Office announced Tuesday.Among the Southeast Asian countries named are the Philippines, Thailand, Vietnam, Malaysia, Indonesia, Cambodia and Singapore. Taiwan is also included separately among the economies cited.The findings are part of a broader review of many economies. Officials said the gaps create unfair competition by helping producers who use forced labor.USTR has proposed additional tariffs of 10% to 12.5% on affected imports and is seeking public comments before finalizing any action, with hearings scheduled for July 2026.

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Asian Banking Sector Surges Past Automobiles to Lead May Activity Growth, S&P Global Survey Finds
US Markets

Asian Banking Sector Surges Past Automobiles to Lead May Activity Growth, S&P Global Survey Finds

Most Asian business sectors expanded in May, with banking overtaking the automobile industry, according to the S&P Global Asia Sector PMI released on Wednesday.Leading the upturn for the first time in seven months, the banking sector expanded at its second-steepest rate in over five and a half years. The growth follows a previous S&P Global forecast warning that credit losses in the Asia-Pacific banking sector could surge by approximately $180 billion due to the ongoing conflict in the Middle East.The automobile sector, last month's top performer, slipped to second place, though its pace of growth remained historically high.Of the 18 sectors monitored, only forestry and paper products, alongside construction materials, recorded a contraction in new orders; however, these declines were softer than in the previous month. In contrast, the transportation sector posted the strongest surge in new orders, despite looming concerns over U.S.-Iran negotiations.Volatility persists in the energy and oil industries due to the precarious state of U.S.-Iran talks aimed at ending the Middle East conflict."Oil prices received a boost yesterday as talks between the US and Iran appeared to break down -- again. This has become a common pattern in recent months, and there are still plenty of mixed messages," ING'S Warren Patterson and Ewa Manthey said in a Tuesday note. "As a result, oil prices continue to be whipsawed by quickly changing headlines."Operating expenses increased across all 18 sectors. S&P Global highlighted that real estate recorded a renewed rise in input prices, while the chemicals sector posted the sharpest cost inflation rate.All sectors increased their selling prices except for the consumer services sector.

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International

Banking Sector Growth Fastest Among 18 Broader Asian Sectors in May, S&P Data Shows

Banking sector growth was the fastest among the 18 broader Asian sectors in May, with activity expanding at the strongest pace in seven months, S&P Global said in a Wednesday release.Output growth was recorded across 16 of the 18 monitored Asian sectors last month, which was unchanged from April. Only the forestry and paper products, and construction materials sectors incurred declines from April, along with lower new orders received, S&P said.New orders rose across the remaining 16 sectors last month, led by the transportation sector.Employment increased in 10 of 18 sectors, with software & services and technology equipment experiencing the strongest hiring, while insurance witnessed a cutdown in employed staff.

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ASEAN Manufacturing Scene Strong in May: PMI Report
US Markets

ASEAN Manufacturing Scene Strong in May: PMI Report

Despite Persian Gulf troubles, ASEAN manufacturers logged stronger new orders and boosted production in May, reported S&P Global on Tuesday.The ASEAN manufacturing purchasing managers index (PMI) posted at 51.5 in May, up from 50.7 in April, and striking above the 50-mark that separates growth from contraction, reported S&P Global, citing its monthly surveys.The ASEAN PMI logged in positive territory for the 11th-straight month, as stronger domestic demand offset sluggish export orders.The S&P Global ASEAN PMI is a composite of national reports from 2,100 manufacturers in Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.After somewhat lagging in the three previous months, ASEAN manufacturers reported a "solid rise in new orders" in May, although "export sales declined for a third consecutive month," explained S&P Global.Despite improving orders and rising production, ASEAN factory managers kept a tight rein on payrolls in May. Factory sector employers "remained cautious about expanding employment, with May showing a slight decline in jobs," noted S&P Global.Manufacturers also faced rising costs in May, and responded by raising charges on customers. Both "cost burdens and charges rose at substantial and historically marked rates," said S&P Global.With orders improving, ASEAN factory managers in May were more confident in their year-ahead outlooks. Business "confidence regarding output over the coming 12 months improved further to a four-month high, suggesting that firms anticipate continued production growth," said S&P Global.But global events still tempered views. "However, ongoing trade disruptions and inflationary pressures, driven by the current war, will continue to act as headwinds to growth," advised S&P Global.ASEAN survey responses were collected by S&P Global from May 12 through May 20.

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International

Correction: Thailand's Manufacturing Activity Growth Eases in May, S&P Global Data Shows

(Corrects the first paragraph and headline to note that activity growth eased)Thai manufacturing activity expanded at a softer pace in May versus the previous month, S&P Global said Tuesday.The latest seasonally adjusted S&P Global Thailand Manufacturing PMI came in at 52.6, compared with 52.7 in April. The reading was the slowest improvement in manufacturing performance since July 2025.While the output indicator rose at its weakest since May 2025, Thai manufacturers reported a stronger increase in new order intakes and improving business sentiment.

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International

Thailand's Manufacturing Activity Up in May, S&P Global Data Shows

Thai manufacturing output expanded in May, S&P Global said Tuesday.The latest seasonally adjusted S&P Global Thailand Manufacturing PMI came in at 52.6, compared with 52.7 in April. The reading was the slowest improvement in manufacturing performance since July 2025.While the output indicator rose at its weakest since May 2025, Thai manufacturers reported a stronger increase in new order intakes and improving business sentiment.

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International

Asia Week Ahead: Manufacturing Activity; Policy Rate Decision; and Inflation Prints

For the week ahead in Asia, manufacturing activity will be in focus as S&P Global releases a broad mix of purchasing managers' index reports covering multiple economies.The week opens with a flurry of manufacturing PMI readings for May, followed by inflation data from South Korea and Indonesia on Tuesday.Mid-week, Australia's first-quarter GDP report will take center stage, while markets will also watch a heavy batch of readouts from Vietnam.Thursday will be lighter, led by Australia's April trade report, before Friday brings India's policy rate decision and GDP figures and inflation readouts from multiple regions.Here's what to watch in the week ahead.MONDAY, June 1The week kicked off with a flurry of S&P Global's purchasing managers' index (PMI) reports covering May manufacturing activity across the region.China's manufacturing activity eased after the seasonally adjusted RatingDog China General Manufacturing PMI came in at 51.8, compared with 52.2 in the previous month and the consensus estimate of 51.4 from Investing.com.Data from the National Bureau of Statistic similarly showed factory activity easing, with the official purchasing managers' index falling to a neutral 50 from 50.3 in April.A reading above 50 means growth, while a reading below 50 indicates contraction.Manufacturing activity similarly slowed in Australia as new orders fell sharply for a third consecutive month amid rising costs and ongoing supply-chain disruptions linked to the war in the Middle East.In contrast, Japan's manufacturing production expanded, with the latest S&P Global Japan Manufacturing PMI coming in at 54.5, compared with 55.1 in April, matching the flash data.South Korean manufacturing output also expanded during the month, hitting its highest in five years due to a rise in production and new order volumes, S&P Global said.India, Taiwan and Vietnam were also among the regions that experienced improved output during May.Meanwhile, The Philippines' manufacturing activity returned to growth in May as stronger output and a recovery in new orders offset continued weakness in exports.Moving ahead, the Melbourne Institute said its monthly inflation gauge fell in May after two consecutive monthly increases, driven largely by a decline in transport costs. The monthly cost of living also declined in May, particularly for self-funded retirees.Elsewhere, South Korea recorded a trade surplus of $26.9 billion in May, a new all-time high, and marking the third straight month of more than $20 billion in trade surplus.TUESDAY, June 2Focus shifts Tuesday to inflation data coming in from South Korea.Economists at ING said consumer prices could reach 3% year on year in May, reflecting higher input costs that are likely to be passed on to consumers.Pipeline cost pressures are also likely to reflect in Indonesia's inflation print due Tuesday, with ANZ expecting prices to tick up to 3% from 2.42% in the prior month, the Wall Street Journal reported.Trade figures due in Indonesia the same day could also show moderating exports as the effects of front-loaded demand fade and commodity prices soften, the WSJ said, citing an RHB economist.On the activity front, S&P Global releases its monthly manufacturing PMIs for Indonesia, Malaysia, and Thailand. The Singapore Institute of Purchasing and Materials Management's PMI report is also expected.Lastly, Hong Kong will release its retail sales stats for April.WEDNESDAY, June 3Australia's first-quarter gross domestic product (GDP) data will dominate headlines Wednesday.Both Westpac and CommBank said they expect growth to have moderated during the first three months of the year, though their estimates differed.CommBank forecast a 0.2% quarterly rise in GDP, while Westpac projected 0.5%; both would be slower than the 0.8% growth recorded in the final quarter of 2025.Neighboring New Zealand will disclose first-quarter export and import price stats.Markets will also be following a speech by Bank of Japan Governor Kazuo Ueda for clues on the central bank's next interest-rate hike.Wednesday also features a heavy slate of macro data from Vietnam, including inflation, balance of trade, industrial production, and retail sales.Trading Economics expects Vietnam's May inflation to accelerate to 6% from 5.46% in April. Meanwhile, the data platform estimated the country's trade deficit could widen to $3.4 billion from $3.28 billion a month prior.Meanwhile, S&P Global will release the next batch of its PMI reports covering composite and services activity in China, India, Japan, Australia, and Hong Kong.THURSDAY, June 4Thursday will be relatively light on readouts, with Australia's April trade figures among the handful of releases of note.Australia is expected to post a trade surplus of A$2.6 billion in April, rebounding from a A$1.8 billion deficit in March - its first shortfall since late 2017, Westpac said in a preview.According to the bank, major commodity exports appeared to have increased notably during the period after recording three consecutive monthly declines.In Singapore, S&P Global's monthly PMI will be due, while Thailand will release a business confidence report.FRIDAY, June 5The tail end of the week brings a policy rate decision in India, which will also release its quarterly GDP growth figures.The Reserve Bank of India is expected to hold rates at 5.25% but could signal hawkish sentiment during its vote, the WSJ reported, citing a UOB economist.Meanwhile, a Trading Economics consensus placed the country's GDP growth rate at 7.3%, down marginally from the 7.8% recorded in the final quarter of 2025.ANZ Research said the economy stayed broadly healthy in the fiscal fourth quarter, although growth eased slightly in March as manufacturing, exports and profit margins came under pressure due to global disruptions, the WSJ reported.Taiwan is set to report monthly inflation data, with ING expecting consumer prices to rise above the 2% target for the first time since April 2025. The bank expects inflation to accelerate to 2.2% year on year in May from 1.7% in April, reflecting Taiwan's reliance on imported energy, which leaves the economy vulnerable to higher global prices."We expect inflation to peak toward the middle of this year, raising the risks for a potential central bank rate hike at the coming meetings," ING said in a preview.Thailand and the Philippines will similarly report their respective inflation rates for May, with the latter also releasing industrial production stats.Lastly, Singapore will report its retail sales figures for April.

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International

Thailand's Economy Expands Slowly in April As Middle East Conflict Bites

Thailand's economy softened in April from the previous month, weighed down by the impact of the Middle East conflict on tourism, the Bank of Thailand said Friday.Private consumption fell as spending on consumer goods and fuel eased following earlier front-loaded purchases, while higher energy prices affected travel and working patterns.Private investment also decreased after accelerating in the prior month. However, merchandise exports excluding gold rose across several categories, particularly technology and automotive products, though exports to the Middle East remained weak, the central bank said.The current account recorded a large deficit, mainly due to a wider trade gap from higher imports, while labor market conditions improved.Manufacturing output was broadly stable, supported by gains in automotive, rubber, and plastics production, while government expenditure expanded on higher current and capital spending, the data showed.

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Asia

Market Chatter: US, Iran Reach Tentative 60-Day Ceasefire Extension

The U.S. and Iran have tentatively agreed to extend a ceasefire for two months while initiating new negotiations over Tehran's nuclear program, fueling optimism that the ongoing three-month conflict may soon end, Bloomberg News reported on Thursday, citing a source familiar with the discussions.The anonymous source confirmed a prior Axios report, though President Donald Trump has not yet signed off on the terms, the newswire said.While both sides have previously celebrated progress and Trump has often claimed a deal was imminent, the impasse has repeatedly persisted, the publication said.Vice President JD Vance told reporters that the two nations are exchanging proposals on specific language regarding Iran's nuclear capabilities, and noted that Iran appears to be engaging in good faith, with tangible progress underway, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Thailand's Industrial Production Falls in April

Thailand's industrial production index stood at 92.76 in April, down 15.12% from May, the country's Office of Industrial Economics said Thursday.Compared with the previous year, industrial production was 0.36% lower due to pressures from the Middle East tension, fewer foreign tourist arrivals, and persistently high household debt.

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Asia

Market Chatter: Thailand, US Accelerate LNG Talks After Damage to Qatar Exports

Thailand and the United States are accelerating talks on U.S.-produced liquefied natural gas (LNG) supply deals following damage to export infrastructure in Qatar caused by the Iran conflict, Reuters reported Wednesday, citing sources.The negotiations center on a binding long-term agreement between Venture Global and Thailand's state-controlled energy company PTT PCL (BKK:PTT), according to the report.The news outlet noted that such contracts typically run 15 years or more.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Thailand's Trade Deficit Rises to Record High in April
US Markets

Thailand's Trade Deficit Rises to Record High in April

Thailand struck a record high trade deficit in April as imports surged 45% year over year in dollar terms during the month, according to data from the Ministry of Commerce.The Southeast Asian kingdom recognized a deficit of $10 billion in April, up from $3.04 billion in the year-ago period.The figure topped a median estimate of a $5.3 billion deficit during the month, Bloomberg reported separately the same day.Thailand's trade deficit is the widest on record since January 1991's $1.25 billion figure, the news outlet said.Imports soared to $41.6 billion in April, with electrical circuit boards, electrical machinery and components, jewelry, crude oil, and machinery comprising the top five, in that order, the ministry said.Exports fell 10% year over year to $31.6 billion, led by computer equipment and parts, jewelry, automobiles, telecommunications equipment, and rubber products, in that order.In local currency terms, exports jumped 19% year over year to 1.022 trillion baht, while imports surged 40% to 1.363 trillion baht.The figure led to a trade deficit of 340.7 billion baht, 201% higher than the 113.3 billion baht deficit recorded a year earlier.January-April cumulative exports jumped 10% to 4.003 billion baht, while imports grew 26% to 4.680 trillion baht, equivalent to a trade deficit of 677.2 billion baht.Thailand's strong imports and widening trade deficit could continue should energy prices stay high, and artificial intelligence helps boost trade flows, Bloomberg said, citing Trade Policy and Strategy Office director-general Nantapong Chiralerspong.

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International

Asia Week Ahead: Policy Rate Decisions, Inflation Prints and GDP Reports

Asia's economic calendar this week features a mix of inflation data, interest rate decisions, GDP releases and industrial figures across the region.The week opens with Singapore's GDP and inflation data, plus Thailand's trade figures, followed on Tuesday by Taiwan's industrial production and retail sales reports.Mid-week, attention turns to the Reserve Bank of New Zealand's policy decision and Australia's inflation print. On Thursday, the Bank of Korea will announce its rate decision, while Hong Kong releases trade data and India reports industrial and manufacturing output figures.Friday will be the busiest day for macro releases, led by a batch of key indicators from Japan. The week wraps up with China's PMI readings on Sunday.Here's what to watch in the week ahead.MONDAY, May 25Singapore's economy grew 6.0% year over year in the first quarter, government data showed, beating the 4.6% flash estimate and accelerating from the 5.7% growth in Q4.The expansion was driven by strong performances in the wholesale trade, manufacturing, and finance and insurance sectors.Meanwhile, the city-state's annual inflation rate held steady at 1.8% in April, unchanged from March but below market expectations of 2%.Core inflation, on the other hand, eased to 1.4% in April from 1.7% a month prior.In Thailand, exports surged 23.1% year over year to $31.6 billion in April, accelerating from an 18.7% increase in March and beating forecasts of 16.2%.Imports likewise strengthened, expanding 45% in April to $41.6 billion, compared with a rise of 35.7% a month prior.As a result, the trade deficit ballooned to $10.02 billion in April from $3.3 billion a year earlier, far above forecasts of a $5.1 billion shortfall.TUESDAY, May 26Singapore will release its April industrial production data, while Taiwan is due to report both industrial production and retail sales figures for the month.WEDNESDAY, May 27New Zealand's central bank will hold its policy meeting, with analysts expecting no change to the country's official cash rate of 2.25%, according to a Trading Economics consensus.Australia is set to release inflation figures on the same day. Consumer prices rose 4.6% year on year in March, the fastest pace since September 2023, and are expected to accelerate to 5.1% in April as oil prices climb amid the Middle East conflict.Meanwhile, China will report its industrial profits for April. A pair of confidence reports covering business and consumer sentiment will be due in South Korea and Taiwan, respectively.THURSDAY, May 28The Bank of Korea is set to meet for its policy rate decision, with markets watching for any change to its current 2.5% benchmark rate amid inflation and growth pressures linked to the ongoing conflict in the Middle East.Hong Kong will release its monthly trade figures. The April reading could show a narrowing of the trade deficit to HK$46 billion from HK$89.1 billion in March, Trading Economics forecasted.Meanwhile, India will report its industrial and manufacturing production data for April.Markets will also watch New Zealand's ANZ Business Confidence report for May, after the index dropped to -10.6 in April -- its first negative reading since August 2023 -- as the Middle East conflict weighed on sentiment.FRIDAY, May 29Japan's usual end-of-month data deluge, which includes the release of inflation, unemployment rate, industrial production and retail sales, will provide insights into the country's economic health.Markets will also watch Taiwan's final Q1 GDP growth figures for any revision from the preliminary estimate, which showed the economy expanding by 13.7%.Other highlights include trade balance figures from Macau and the Philippines, and export and import price data from Singapore.Both South Korea and Thailand will report their monthly industrial production and retail sales stats, while Macau will report its unemployment rate for April.Lastly, a report capturing business confidence in April will be due in the Philippines.SUNDAY, May 31China, the biggest economy in Asia, will release its official May PMI data covering manufacturing, non-manufacturing and general activity.

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