Closer to home, the Securities and Exchange Commission of Thailand reassured investors that the country’s stock market is functioning normally due to last week’s turmoil. A devastating 7.6 magnitude earthquake just struck across their border in Myanmar. This horrible incident led international news coverage, including major stories about its collapse of a nearly completed skyscraper in Bangkok. On Monday, trading opened after last week’s quake triggered a halt on Friday. The gauge SET index fell more than 1% in what may be a sign of wider market jitters.
The Bank of Thailand’s Deputy Governor Roong Mallikamas reassured the public that operations of Thailand’s payment infrastructure and all mobile banking applications have remained “uninterrupted.” On the monetary side, the central bank has already acted. It has called on financial institutions to offer tailored debt relief solutions for borrowers affected by the catastrophe. This joint effort focuses on helping those who are still likely to experience financial hardship due to a lingering effect of the earthquake.
The Tsunami earthquake that hit Myanmar was felt all over Southeast Asia, causing immediate security threats in Thailand. Alongside the direct structural damage from the Bangkok earthquakes, the tremors were a major cause for concern in terms of the stability of already constructed buildings and infrastructure. So the rapid reaction from our financial regulators to restore some confidence in the market and provide a sense of relief and safety is reassuring.
As Thailand deals with these domestic and regional issues, worldwide markets are simultaneously adjusting to rising geopolitical tensions. On Tuesday, leading Japanese stocks plunged by the most in history. The threat of impending tariffs from U.S. President Donald Trump sent investors to the exits in a mass sell-off across Asia. The Dow Jones Industrial Average closed down 715.80 points, or 1.69%, at 41,583.90, reflecting investor anxiety over potential trade disruptions.
In the midst of these overall market changes, Japan is preparing to roll out their own digital nomad visas. They expect to release them in late March. This initiative aims to attract remote workers and digital entrepreneurs to the country, presenting an opportunity for economic growth amidst international uncertainties.
CCK Hutchison, to manage the growing backlash against Chinese outsiderness. The complaint arises from its controversial move to sell a majority stake in its $22.8 billion ports business to a U.S.-led consortium that includes BlackRock. While news reports suggest the deal has been put on hold, the deal hasn’t been canceled completely. The sale will generate more than $19 billion in cash for CK Hutchison. That’s a very positive signal of intense interest from all foreign investors, even during challenging times in the U.S.-China bilateral relationship.
China’s manufacturing activity has shown surprising strength. In March, its composite index grew at its quickest rate in a year. The widely-watched official purchasing managers’ index (PMI) came in at 50.5. This figure points towards expansion in the manufacturing industry and provides a ray of hope for an overall economic rebound despite global challenges.
Commodity markets were rocked as spot gold prices soared past the $3,100 threshold. On Friday, they hit a new record inflation-adjusted high of $3,106.34 per ounce. The safe-haven demand driving this increase is coming from investors looking for refuge as geopolitical tensions rise and markets grow more volatile.
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