ASIAN SHARES JOIN RALLY SPURRED BY US RATE CUT

RECAP: Asian stocks rallied after gauges of US and global equities hit fresh records, with sentiment boosted by this week's Federal Reserve's rate cut and its upbeat assessment of the US economy.

- NUNTAWUN POLKUAMDEE NAREERAT WIRIYAPONG

The SET index moved in a range of 1,250.29 and 1,279.54 points this week, before closing yesterday at 1,254.10, down 1.50% from the previous week, with daily turnover averaging 33.72 billion baht.

Retail investors were net buyers of 3.89 billion baht, followed by foreign investors at 1.05 billion. Institutional investors were net sellers of 3.5 billion baht, followed by brokerage firms at 1.43 billion.

NEWSMAKERS:

A sharply divided Federal Reserve cut interest rates by 25 basis points on Wednesday but signalled no more moves in the near term as it awaits clarity on the direction of the job market and sticky inflation. With 2026 GDP growth of 2.3% forecast, up from 1.8% earlier, the Fed is projecting just one rate cut next year.

US President Donald Trump signed an executive order calling for a single regulatory framework for Al, undermining the power of individual states. The move marks a win for tech companies like OpenAI and Google.

■ The US has unveiled “Pax Silica”, a strategic initiative to build a secure, prosperous and innovation-driven silicon supply chain for chipmaking industries, bringing together Japan, Israel, Australia, Singapore and South Korea.

■ The International Air Transport Association forecasts the airline industry will post record profits of $41 billion next year despite supply chain issues leading to slower aircraft deliveries.

■ The e-commerce giant Amazon said it would nearly double its investment in India by 2030 to about $75 billion, seeking to expand exports, create jobs and invest in AI.

■ Asian equities witnessed their largest monthly foreign outflows in nearly six years in November, driven by a selloff in high-flying technology stocks as concerns over stretched valuations prompted investors to cut exposure.