Asian Markets See Modest Gains Amid Tech Volatility and US Tariff Concerns
Asian markets showed minor increases on Friday, while concerns over US tariffs and DeepSeek AI advances weighed on sentiment.
Asian stock markets saw modest gains on Friday, following a volatile week in the tech sector, particularly around the DeepSeek AI breakthrough.
However, concerns over US tariffs on Canada and Mexico continued to dampen sentiment.
Thai shares dropped by 1.6%, closing near 1,300 points, influenced by rising competition in global tech and uncertainty about US tariffs.
The SET index saw a weekly drop of 2.9%, with daily turnover averaging 42.26 billion baht.
Retail investors were net buyers, while institutional investors were net sellers.
The US economy grew by 2.3% in the fourth quarter of 2024, slower than the forecasted 2.6%.
Consumer spending grew 4.2%, marking its first consecutive quarter above 3% since 2021. The Federal Reserve kept interest rates unchanged, while the European Central Bank reduced rates again to 2.75% amid weak eurozone growth.Gold prices surged to a record high as concerns about US tariffs drove investors to the metal.
Meanwhile, Toyota reported a 3.7% decline in global sales for 2024 but remains the world’s top automaker.
Tesla's profit dropped by 71% from the previous year, though sales rose slightly.
In corporate developments, Boeing reported a $11.83 billion loss for 2024, while the US is considering restricting Nvidia chip sales to China.
SoftBank is in talks to invest $15-25 billion in OpenAI, aiming to become the largest backer of the ChatGPT maker.
Macau’s gaming revenue showed a 5.6% drop in January, reflecting weak consumer sentiment in China, while the Philippines' economy grew slower than expected.
Thailand’s economic outlook is supported by consumption and exports, though manufacturing saw a notable decline in December.
The country’s digital economy continues to evolve, with new infrastructure funds and the launch of new tourism programs.Looking ahead, several economic updates are due next week, including US manufacturing data and the Bank of England's interest rate decision.
In Thailand, Chulalongkorn University will host the 2025 economic forum, with key discussions on investment trends and the country's operational plans for 2025.
However, concerns over US tariffs on Canada and Mexico continued to dampen sentiment.
Thai shares dropped by 1.6%, closing near 1,300 points, influenced by rising competition in global tech and uncertainty about US tariffs.
The SET index saw a weekly drop of 2.9%, with daily turnover averaging 42.26 billion baht.
Retail investors were net buyers, while institutional investors were net sellers.
The US economy grew by 2.3% in the fourth quarter of 2024, slower than the forecasted 2.6%.
Consumer spending grew 4.2%, marking its first consecutive quarter above 3% since 2021. The Federal Reserve kept interest rates unchanged, while the European Central Bank reduced rates again to 2.75% amid weak eurozone growth.Gold prices surged to a record high as concerns about US tariffs drove investors to the metal.
Meanwhile, Toyota reported a 3.7% decline in global sales for 2024 but remains the world’s top automaker.
Tesla's profit dropped by 71% from the previous year, though sales rose slightly.
In corporate developments, Boeing reported a $11.83 billion loss for 2024, while the US is considering restricting Nvidia chip sales to China.
SoftBank is in talks to invest $15-25 billion in OpenAI, aiming to become the largest backer of the ChatGPT maker.
Macau’s gaming revenue showed a 5.6% drop in January, reflecting weak consumer sentiment in China, while the Philippines' economy grew slower than expected.
Thailand’s economic outlook is supported by consumption and exports, though manufacturing saw a notable decline in December.
The country’s digital economy continues to evolve, with new infrastructure funds and the launch of new tourism programs.Looking ahead, several economic updates are due next week, including US manufacturing data and the Bank of England's interest rate decision.
In Thailand, Chulalongkorn University will host the 2025 economic forum, with key discussions on investment trends and the country's operational plans for 2025.
