INTEREST RATE UNCERTAINTY PUMMELS ASIAN SHARES

RECAP: Asian shares extended a global rout yesterday as much-anticipated US jobs data failed to provide clarity on the near-term outlook for interest rates, with investors dumping risk assets even after dazzling earnings from Nvidia.

- NUNTAWUN POLKUAMDEE

The Thai bourse tumbled 2.14% on Friday to its lowest since August, partly due to rising political uncertainty as House dissolution as early as Dec 12 now appears possible.

The SET index moved in a range of 1,248.89 and 1,294.45 points this week, before closing yesterday at 1,254.40, down 3.2% from the previous week, with daily turnover averaging 33.93 billion baht.

Retail investors were net buyers of 1 billion baht, followed by brokerage firms at 423.86 million. Institutional investors were net sellers of 1.9 billion baht, followed by foreign investors at 328.21 million.

NEWSMAKERS: The US reported stronger than expected jobs growth of 119,000 in September, after a decline of 4,000 in August, according to a survey delayed by the government shutdown. But the unemployment rate rose to a four-year high of 4.4%, indicating a fragile labour market. Jobless claims also rose by more than expected.

Federal Reserve officials were at odds during their October meeting over cutting interest rates, debating whether a stalling labour market or stubborn inflation were bigger economic threats, minutes released on Wednesday showed.

The CME FedWatch Tool now assigns a 55.4% probability that the Fed will leave its policy rate unchanged at its December meeting, up from 37.6% a week earlier.

Nvidia's third-quarter results topped forecasts with revenue soaring 62% year-on-year to $57 billion, prompting a sigh of relief in the market amid growing concerns about an AI bubble. The chip giant posted profits of $31.9 billion, up 65%.

Japan's cabinet approved a stimulus package totalling ¥21.3 trillion ($135.5 billion), as Prime Minister Sanae Takaichi seeks to boost the slowing economy and offer support to inflation-hit consumers.