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30 ต.ค. เวลา 02:43 • หุ้น & เศรษฐกิจ
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Economics Morning Brief and Today's News Summary by Manrat Chotsiri on October 30th, 2026.

Comprehensive Daily Economic & Market Briefings (October 28–30, 2026)
1. Deep-Dive Economic Report (October 28, 2026)
📈 Capital & Equity Markets
Thai Stock Market (SET Index): Traded within the support range of 1,540 - 1,555 points and resistance range of 1,590 - 1,605 points, maintaining a cautious "Wait and See" stance.
Domestic Drivers: Pressed by institutional selling and global energy tensions, while commercial banks and electronics stocks remained primary speculative targets ahead of Q3/2026 earnings announcements.
🏆 Gold Market
Gold Price Movements: Global and domestic gold prices experienced volatility and downside pressure following a breakdown below key support levels in the previous week.
Key Drivers: Investors closely monitored the Federal Reserve meeting and key US economic data (PCE index and GDP figures) to gauge the future trajectory of the US Dollar and bullion prices.
🏛️ Monetary Policy & Foreign Exchange
Bank of Thailand (BOT) & MPC: Market focus centered on the upcoming Monetary Policy Committee (MPC) decision to evaluate domestic interest rate policy amid rising energy costs and macroeconomic stability challenges.
Thai Baht (THB): Fluctuated within 33.30 - 33.80 THB/USD, weighed down by a stronger greenback and foreign capital outflows (Fund Flow).
🌍 Global Economy
Super Central Bank Week:
US Federal Reserve (Fed): Held its FOMC meeting on October 27–28, 2026, with markets awaiting rate decisions and statements regarding the December rate outlook.
European Central Bank (ECB): Scheduled to meet on October 29.
Bank of Japan (BOJ): Scheduled to meet on October 29–30.
Key Data to Watch: Eurozone and US Q3/2026 GDP releases alongside PCE inflation metrics to assess global inflation trends entering the final quarter of the year.
2. Deep-Dive Economic Report (October 29, 2026)
🏛️ Monetary Policy & Foreign Exchange
Unanimous MPC Vote to Hold Rates at 1.00%: The Monetary Policy Committee unanimously voted to maintain the policy rate at 1.00% per annum, while upgrading the 2026 GDP growth forecast to 2.4% and projecting average headline inflation at 2.1%.
Policy Space Perspective: The BOT noted that while economic recovery remains below potential and uneven, ample Policy Space remains available to absorb potential severe shocks.
Thai Baht: Stabilized near 33.75 - 33.80 THB/USD, as strong external sector fundamentals helped buffer against external volatility.
📈 Capital & Equity Markets
Thai Stock Market (SET Index): Fluctuated around the support level near 1,565 points (-0.57%, closing around 1,566.10 points). Investor sentiment stayed cautious pending Q3/2026 corporate earnings releases and potential government economic stimulus measures.
Sector Movements: Technology/Electronics and Energy sectors saw active trading and speculation amid news surrounding global tech and AI IPO plans.
🏆 Gold Market
Gold Price Movements: Domestic and international gold prices remained in a consolidation phase following profit-taking. Gold Bar 96.5% traded between 63,900 - 64,100 THB per baht weight, with investors awaiting rate signals from major central banks.
🌍 Global Economy
Fed Rate Decision in Line with Expectations: The US Federal Reserve held interest rates steady as anticipated, maintaining an outlook-dependent stance regarding inflation and labor market data heading into the December meeting.
Global Central Bank Actions: Central banks globally continued their meetings, with markets focusing closely on policy announcements from the ECB and BOJ.
3. Deep-Dive Economic Report (October 30, 2026)
📈 Capital & Equity Markets
Thai Stock Market (SET Index): Closed in negative territory at 1,544.60 points (-21.50 points or -1.37%) with heavy trading turnover exceeding 68 billion THB.
Headwinds: Pressed by profit-taking and concerns over foreign fund outflows, alongside regional market weakness due to energy costs and global interest rate uncertainties.
Industry Sector Activity: Energy and electronics stocks traded on commodity price dynamics, while rubber sector shares received support from tight global supply and declining Indonesian output.
🏆 Gold Market
Gold Price Movements: Domestic gold prices ticked slightly higher (via Gold Traders Association / Aurora data). Gold Bar 96.5% was quoted at 64,400 THB (selling) and 64,200 THB (buying).
Key Drivers: Supported by bargain hunting following the previous week's sharp price correction, while markets tracked US Dollar movements and central bank policy clarity.
🏛️ Monetary Policy & Foreign Exchange
Aftermath of MPC Decision: The unanimous decision to maintain the policy rate at 1.00% reinforced expectations of gradual economic recovery, with the BOT confirming sufficient policy buffer against macro risks.
Baht Stability: Fluctuated within a range aligned with regional peers and safe-haven flows, buoyed by Thailand's solid macroeconomic foundation.
🌍 Global Economy
Major Central Bank Outcomes:
US Federal Reserve (Fed): Maintained interest rates as expected, signaling dependence on incoming PCE inflation and employment data for its December policy meeting.
ECB & BOJ: Adopted cautious policy stances amid ongoing geopolitical risks and global inflation dynamics.
Energy Market: Domestic retail fuel prices (PTT / Bangchak) remained unchanged following mid-week adjustments.
4. In-Depth Analysis: AI Industry Stocks (AI Sector)
🌐 Global AI Big Tech Overview
AI sector investments have expanded beyond chipmakers into the entire AI Value Chain:
⚙️ Upstream & Hardware
NVIDIA (NVDA): Remains the undisputed leader in GPUs and AI training infrastructure, with its Blackwell (GB200) architecture driving Data Center revenues.
Broadcom (AVGO): Leading provider of high-speed networking switches and custom AI ASIC design for hyperscalers.
TSMC (TSM): World's primary semiconductor foundry (>90% market share in advanced nodes), manufacturing for NVIDIA, Apple, and AMD.
☁️ Midstream: Infrastructure, Cloud & Networks
Microsoft (MSFT): Key partner of OpenAI, leading AI monetization via Azure AI and Microsoft 365 Copilot subscriptions.
Alphabet / Google (GOOGL): Full-stack AI player across Search, Gemini models, and custom TPU v5/v6 chips optimizing internal compute costs.
Oracle (ORCL): Rapidly expanding Cloud Infrastructure (OCI) supporting AI workloads alongside OpenAI, Meta, and xAI.
⚡ Supporting Infrastructure: Energy & Cooling
GE Vernova (GEV): Leader in gas turbines and clean energy solutions powering 24/7 AI Data Center electricity demand.
Celestica (CLS) & Lumentum (LITE): Manufacturers of electronics and optical interconnect technologies for AI data center networks.
🇹🇭 Thai AI-Related Stocks
Thai companies benefiting from regional Data Center expansion and digital infrastructure include:
DELTA Electronics (DELTA): Global supplier of power management systems and cooling solutions for AI servers and Data Centers.
GULF Energy (GULF): Clean energy provider powering Data Centers, joint-venturing in the GSA Data Center project with Singtel and ADVANC.
ADVANC (AIS) & TRUE: 5G network operators providing Cloud and Data Center infrastructure for enterprise AI adoption.
INSET / ITEL / AIT: System integrators and digital infrastructure contractors building Data Center facilities.
⚠️ Drivers & Key Risks
Growth Drivers:
Sustained AI Capex expansion by global Big Tech hyperscalers.
The shift toward AI Agents driving corporate software automation demand.
Key Risks:
ROI Scrutiny: Market focus on how quickly massive Data Center investments generate returns.
Geopolitics: US export restrictions on advanced AI chips to China.
Valuation Risks: Premium P/E ratios leaving high-multiples tech stocks vulnerable to pullbacks.
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