Summary · why it matters
The US Producer Price Index, or PPI, rose 5.4% year-on-year in August, above expectations of 5.3% and accelerating from 4.8% in July. Core PPI rose 4.6%, in line with forecasts, after a 4.3% gain the previous month. As a result, the Dow Jones closed at 52,064.10 points, down 316.56 points, or 0.60%. The S&P 500 closed at 7,591.70 points, down 44.66 points, or 0.58%, and the Nasdaq closed at 26,081.73 points, down 171.62 points, or 0.65%. Meanwhile, WTI and Brent crude both surged past 100 dollars per barrel as Iran continued to attack oil tankers passing through the Strait of Hormuz and Iran-backed Houthi rebels seized control of the port of Mokha in Yemen. In Europe, the STOXX 600 closed at 635.97 points, down 4.44 points, or 0.69%, after the European Central Bank, or ECB, raised interest rates by 0.25% to 2.5%, its second hike this year. Asian markets opened broadly lower, with Japan's Nikkei posting the region's biggest opening drop at 1.52%, followed by South Korea's KOSPI down 2.7%, Hong Kong's Hang Seng down 0.95%, Australia's S&P/ASX 200 down 1%, and China's Shanghai Composite down 0.60%. Thailand's stock market is expected to trade sideways down in line with overseas markets. The stock to watch today is WHA, which is preparing to develop a 1,000-to-2,000-rai Data Center Park dedicated to data centers, with clarity expected within this year. The company remains confident land sales will meet its target of 2,500 rai after already achieving more than 1,000 rai in the first half.
WHA Corporation Public Company Limited