Bangkok, Thailand – The unexpected contraction of Thailand’s economy in the fourth quarter of last year is leading to speculation about potential interest rate cuts in the near future.
According to data, the country’s GDP shrank by 0.6% quarter over quarter, a significant difference from the 0.1% expansion that was expected. Additionally, the year-on-year growth of 1.7% fell short of initial estimates of 2.5%. These numbers have raised concerns about the need for a rate cut from the Bank of Thailand in April.
The push for a sustainable aviation industry in Singapore is expected to lead to a rise in outbound flight costs from 2026. The plan involves the use of sustainable aviation fuel (SAF) for all outbound flights by that year, with a target of 1% of jet fuel used at Changi Airport and Seletar Airport being SAF, and a goal of 3-5% by 2030. The increased costs will likely impact both economy class and premium passengers on flights to popular destinations like Bangkok, Tokyo, and London.
Tourism stocks in China surged as holiday tourism numbers exceeded pre-pandemic levels. Official data showed a 34.3% increase in domestic trips during the Lunar New Year festival, and a 47.3% year-over-year jump in spending. These positive numbers have contributed to a 2.1% increase in the China travel stocks index, with individual companies like Air China and Tongcheng Travel also experiencing notable gains.
Reports of a potential delay in the release of Nintendo’s next console contributed to a more than 6% drop in the company’s shares. The projected release of the successor to the Switch console has been pushed to early next year, leading to concerns and a decline in stock value.
While the stock market has experienced a five-week winning streak, it closed lower at the end of last week. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all ended in the red, signaling a break in their previous trend.
The latest University of Michigan survey showed that consumer sentiment and inflation expectations have remained relatively steady in February. With the sentiment reading at 79.6, and the one-year inflation outlook at 3%, there are signs that consumers are feeling more assured about the economy, despite ongoing fluctuations in the stock market.