SHARES ADVANCE AS MORE US RATE CUTS EXPECTED

RECAP: Asian share markets followed Wall Street higher yesterday as expectations for as many as three US interest rate cuts by year-end promised to lower borrowing costs globally, a relief to stressed bond markets and a drag on the dollar.

- NUNTAWUN POLKUAMDEE NAREERAT WIRIYAPONG

Thai shares rose for five consecutive days to approach 1,300 points on Friday, supported by positive sentiment towards the economic ministers in the incoming Bhumjaithai government and promised stimulus.

The SET index moved in a range of 1,264.79 and 1,299.19 points this week, before closing yesterday at 1,293.62, up 2.3% from the previous week, with daily turnover averaging 46.56 billion baht.

Institutional investors were net buyers of 1.19 billion baht, followed by retail investors at 254.03 million. Foreign investors were net sellers of 1.34 billion baht, followed by brokerage firms at 107.15 million.

NEWSMAKERS: President Donald Trump has signed an executive order paving the way for tariff exemptions for some countries that reach agreements on industrial goods exports such as nickel, gold, other metals, pharmaceuticals and chemicals.

■Trump has proposed that the EU join the US in pressuring countries that import Russian oil, specifically China and India, through tariffs of up to 100% to increase pressure on Moscow to end the war with Ukraine.

■The European Central Bank held interest rates steady at 2% as widely expected, as economic uncertainty persists in the wake of Trump's aggressive tariff agenda.

■The number of German business insolvencies in the first half of the year jumped 12.2% from a year earlier, highlighting the challenges the government faces to revive economic growth.

■The US economy created 911,000 fewer jobs in the 12 months through March than previously estimated, the government said on Tuesday, suggesting job growth was already stalling before aggressive tariffs on imports took effect.