ASIAN SHARES RANGEBOUND AS INVESTORS AWAIT US NEWS

Asian equities traded in a narrow range yesterday after two days of losses, as investors awaited US economic data and a possible Supreme Court ruling on President Donald Trump's tariffs later in the day.

- NUNTAWUN POLKUAMDEE NAREERAT WIRIYAPONG

The SET index moved in a range of 1,251.40 and 1,287.47 points this week, before closing yesterday at 1,254.09 points, down 0.4% from the previous week, with daily turnover averaging 37.64 billion baht.

NEWSMAKERS: Trump announced a plan under which Venezuela would turn over 30-50 million barrels of oil, worth up to $2 billion, to be sold by the US, days after the abduction of President Nicolas Maduro.

■Trump has called for US defence spending to be increased to $1.5 trillion in 2027 for what he called "these very troubled and dangerous times". That would be more than 50% higher than this year's $901-billion budget.

■Trump has directed government-sponsored enterprises to purchase $200 billion in mortgage-backed securities, a move he said is intended to bring US mortgage rates down.

■The US trade deficit plunged 39% to $29.4 billion in October, the lowest since 2009, as imports dropped under Trump's sweeping tariffs. Exports rose 2.7% to $302 billion, as imports fell 3.4% to $331.4 billion.

■Neel Kashkari, president of the Minneapolis Federal Reserve, said he thinks the central bank is near the point at which it should stop lowering interest rates. He said the Fed needs to decide whether it should be more focused on a slowing labour market or stubbornly high inflation.

■China has begun restricting exports to Japanese companies of rare earths and powerful magnets containing them, after earlier banning exports of dual-use items to the Japanese military.

■Chinese inflation rose 0.8% year-on-year in December, the most in three years, in a sign that the economy is starting to improve.