The Thai stock market continued its downward trajectory on Monday, following a brief respite after a two-day decline of more than 20 points, equivalent to a 1.5% loss. The Stock Exchange of Thailand (SET) is now positioned slightly above the 1,370-point mark, although forecasts suggest a potential recovery on Tuesday.
Globally, the outlook for Asian markets leans towards optimism, with technology stocks anticipated to drive gains. This follows a primarily positive performance in European and U.S. markets, which is expected to influence Asian exchanges similarly.
On Monday, the SET experienced a slight downturn, impacted by declines across various sectors, including food, industrial, property, resource, service, and technology. By the end of the day, the index had diminished by 12.11 points, or 0.87%, settling at 1,372.65, after fluctuating between 1,370.69 and 1,390.84. The trading volume reached 7.861 billion shares, valued at 37.273 billion baht. The market saw 409 stocks decline, 102 gain, and 160 remain unchanged.
Notable movements included Advanced Info's decline by 2.46%, Thailand Airport's dip by 0.42%, and Asset World's decrease by 1.15%. Banpu saw a significant drop of 8.47%, while Bangkok Bank rose by 0.66%. Other noteworthy changes were B. Grimm's 7.89% tumble, BTS Group's 3.31% fall, and Energy Absolute's 4.04% decline. Conversely, Kasikornbank saw a rally of 2.27%, and PTT Exploration and Production improved by 1.21%.
In contrast, Wall Street presented a more positive picture; major averages started strong on Monday, although the Dow Jones Industrial Average ended slightly down. The Dow slipped by 25.57 points, or 0.06%, finishing at 42,706.56. The NASDAQ, however, advanced by 243.30 points, or 1.24%, closing at 19,864.98, and the S&P 500 increased by 32.91 points, or 0.55%, concluding at 5,975.38.
Wall Street's rally, particularly in technology stocks, was buoyed by strong financial results from Foxconn, driven by robust demand for AI servers. Additionally, market sentiment was boosted by suggestions that President-elect Donald Trump might ease his proposed tariff plans.
In commodities, crude oil prices failed to maintain early gains on Monday, ending a five-day rise. Despite this, the decline was limited after Saudi Arabia, the leading oil exporter, increased prices for Asian buyers for the first time in three months. Specifically, West Texas Intermediate Crude for February delivery decreased by $0.46, or 0.5%, closing at $73.50 per barrel.
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