FRIDAY, March 29, 2024
nationthailand

Thai, Malaysia stock indices rise despite escalating US-China tensions

Thai, Malaysia stock indices rise despite escalating US-China tensions

The Stock Exchange of Thailand (SET) and the Bursa Malaysia index closed higher on Tuesday, while other markets in Asia dropped.

SET closed on Tuesday at 1,671.48 or up 5.49 points from Monday with a trade value Bt70.43 billion, including net sales by foreign investors of Bt3.41 billion. 
The Bursa Malaysia index also rebounded from a drop in Tuesday morning, closing at 1,611.79, up 1.38 points or 0.09 per cent from Monday.
Meanwhile, stock markets in other Asian countries dropped as investors have continued being concerned about the escalating US-China trade tensions. The People’s Bank of China released a statement on its website on Monday, saying that the drop in the value of the yuan against the US dollar was "influenced by the unilateralism and the protectionist measures", as well as the expectation of more US tariffs on Chinese goods.
However, US President Donald Trump attacked China on Twitter on Tuesday, calling it a currency manipulator. 
The Hong Kong Hang Seng closed at 25,976.24, dropping 175.08 or 0.67 per cent from Monday.
Japan’s Nikkei closed at 20,585.31, dropping 134.98 or 0.65 per cent from Monday’s close.
The Singapore FTSE Straits Times Index closed at 3,170.47, down 24.04 points or 0.75 per cent from Monday, while the China Shanghai Index closed at 2,909.62, dropping 46.04 points or 1.56 per cent from Monday.

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