Amid a strong baht and slowing economic growth, Thailand slashes its one-day bond repurchase rate by 25 basis points to 2.5%, marking the first rate cut this year. The cut was "too little, too slow" for the country's finance minister (previous) — analysts say the quarter percentage point move leaves the door open for further action. Thai stocks (THD) fall 1.1% on the news. Across the region: Philippine (EPHE), Malaysian (EWM), and Indonesian (IDX) shares rise 1.6%, 0.41%, and 0.47% respectively while stocks in Singapore (EWS, EWSS) fall 1.13%. Profit-taking in Vietnam (VNM) snaps a two day rally.
Amid a strong baht and slowing economic growth, Thailand slashes its one-day bond repurchase...
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