Thai stocks turned positive Wednesday after its central bank held interest rates as expected and predicted Q-2 output would be better than forecast, while warning it was ready to quell gains for the baht.
The bank, which already has rates at a record low of 0.5%, said exports were gradually recovering and expected inflation back on target next year, while saying it does not want the baht to rise “too fast” and has the tools to act.
Thailand’s economy relies heavily on exports, which have fallen sharply, and appreciation of the currency now would make its products more expensive and less competitive globally.
BOT also kept the door open for further easing with its range of monetary tools, if necessary, which sparked talks of the central bank turning to unconventional measures to manage the economy.
China stocks Wednesday ended higher for the 4th session running, as investors clung to hopes of a post-C-19 chaos recovery in the world’s 2nd-largest economy, while the heavyweight services sector continued to expand.
The Shanghai Composite index closed up 0.2% at 3,377.56.
The blue-chip CSI300 index edged up 0.03%, the consumer staples sub-index gained 0.6% and consumer discretionary shares added 0.3%.
The smaller Shenzhen index rose 0.8% and the start-up board ChiNext Composite index gained almost 1%. The tech-focused STAR 50 climbed 1.4%.
Australian shares closed lower Wednesday as investors stayed away from risky bets ahead of the corporate earnings season.
The S&P/ASX 200 index was down 0.6% to 6,001.3 pts at the close of trade.
New Zealand’s benchmark S&P/NZX 50 index ended 0.1% lower to 11,757.7 pts
Japanese shares retreated from a 1-wk high Wednesday as downbeat earnings reports and a firmer JPY weighed on exporters.
The Nikkei index ended down 0.26% to 22,514.85, the broader Topix fell 0.04% to 1,554.71.
Data as of 5 August 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||3:45am EDT||136.33||-0.01||-0.01%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||4:59am EDT||316.43||+2.64||+0.84%|
|.TRXFLDINP||Thomson Reuters Equity India Index||5:42am EDT||1,268.52||+1.14||+0.09%|
|.N225||Nikkei Stock Average 225||2:15am EDT||22,514.85||-58.81||-0.26%|
|.HSI||Hang Seng Index||4:08am EDT||25,102.54||+155.91||+0.62%|
|.AORD||ASX All Ordinaries Index||2:57am EDT||6,135.90||-30.60||-0.50%|
|.KS11||KOSPI Index||5:01am EDT||2,311.86||+31.89||+1.40%|
|.SETI||SET Composite Index||5:49am EDT||1,337.35||+6.54||+0.49%|
|.JKSE||Jakarta Composite||4:14am EDT||5,127.05||+52.05||+1.03%|
|.PSI||PSE Composite Index||12:50am EDT||5,833.58||+58.08||+1.01%|
|.SSEC||Shanghai Composite Index||3:00am EDT||3,377.56||+5.88||+0.17%|
|.BSESN||S&P BSE Sensex||5:58am EDT||37,707.73||+19.82||+0.05%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||5:04am EDT||1,568.13||-7.81||-0.50%|
|.HNX30||HNX 30 Index||4 Aug 2020||211.38||+3.43||+1.65%|
Have a healthy day, Keep the Faith!