SHARES ADVANCE ON OPTIMISM ABOUT CHINA-US TALKS

RECAP: Asian shares rose to the highest level in a month and US equity-index futures advanced yesterday after China said it is evaluating trade talks with the US, boosting optimism that tariff tensions will cool.

- NUNTAWUN POLKUAMDEE NAREERAT WIRIYAPONG

Thai shares rallied past 1,200 points, before closing just below the key psychological level ahead of the three-day weekend. Analysts said the Thai market is currently in a rebound state with attractive valuations.

The SET index moved in a range of 1,155.47 and 1,214.75 points this week, before closing yesterday at 1,198.98, up 3.4% from the previous week, with daily turnover averaging 42.53 billion baht.

Foreign investors were net buyers of 2.85 billion baht, followed by institutional investors at 1.27 billion. Retail investors were net sellers of 3.41 billion baht, followed by brokerage firms at 706.42 million.

NEWSMAKERS: US gross domestic product unexpectedly shrank 0.3% year-on-year in the first quarter, as policy uncertainty weighed on business and consumer sentiment. It was the first quarter of negative growth since the first quarter of 2022. President Donald Trump blamed the weak performance on the “Biden overhang”

China's Commerce Ministry said on Friday that it is assessing the possibility of trade talks with the US. However, Beijing insisted Washington must be ready to scrap levies that have shaken global markets and supply chains before talks can begin.

US consumer confidence in April fell to its lowest level since the onset of the Covid19 pandemic in 2020, reflecting concerns about the impact of Trump's tariff plans. The index fell 7.9 points to 86.0, with mentions of tariffs in write-in responses at an “all-time high’, the Conference Board said.

Consumers surveyed by the University of Michigan expect inflation to rise 6.5% in the coming year, the highest since November 1981, because of the impact of tariffs.

Trump signed orders to relax some of his 25% tariffs on automobiles and parts, a significant reversal as the taxes threatened to hurt domestic manufacturers.