RECAP: Asian share markets retreated yesterday as investors took profits on technology stocks and turned defensive ahead of the weekend, wary of a flare-up in Middle East hostilities with US-Iran peace talks in limbo.The Thai index pulled back on Friday after surpassing 1,600 points on Thursday amid persisting uncertainties in the Middle East, while profit-taking in global tech weighed on sentiment.
The SET index moved in a range of 1,567.00 and 1,607.25 points this week, before closing yesterday at 1,582.60, up 0.9% from the previous week, with daily turnover averaging 79.67 billion baht.
NEWSMAKERS: The US on Tuesday announced new tariffs of 10% to 12.5% on the EU and 59 countries, including Thailand, accounting for almost all of the latter's imports, over concerns trading partners are not doing enough to tackle forced labour. The new rates could replace the current Section 122 tariffs that expire on July 24 but consultations are ongoing.
The SpaceX hype rocket has lifted off, with bankers holding roadshows for an IPO that could raise $75 billion, valuing the rocket, satellite and AI company at $1.8 trillion and making founder Elon Musk a trillionaire. Musk insists the price of $135 each for the 555 million shares cannot be lowered.
