The Thai stock market has experienced declines for two consecutive sessions, losing over 25 points or approximately 2%. The Stock Exchange of Thailand (SET) currently holds just above the 1,340-point mark and is expected to receive support on Wednesday.
The global outlook for Asian markets remains uncertain due to conflicting signals concerning interest rate trends. European and U.S. markets showed mixed and minimal changes, which Asian markets are anticipated to mirror.
On Tuesday, the SET saw a pronounced drop, led by losses in sectors such as food, consumer goods, finance, industrial, property, resources, services, and technology. The index fell by 14.09 points, or 1.04%, closing at a daily low of 1,340.25, after reaching a high of 1,363.86. The trading volume was 9.839 billion shares, valued at 56.470 billion baht. The day ended with 376 stocks declining, 127 gaining, and 162 remaining unchanged.
Active stocks included: Advanced Info, which rose by 0.71%; Thailand Airport, up by 0.88%; Asset World, which dropped by 2.53%; Banpu, down by 3.67%; Bangkok Bank, which fell 1.94%; Bangkok Dusit Medical, down 2.09%; Bangkok Expressway, which declined 0.73%; B. Grimm, which decreased by 2.94%; BTS Group, which plunged 4.17%; Charoen Pokphand Foods, which increased by 0.92%; Energy Absolute, down 0.65%; Gulf, which gained 0.43%; PTT Oil & Retail, which jumped 1.71%; PTT, down by 3.20%; PTT Exploration and Production, which declined 0.39%; PTT Global Chemical, down 0.88%; SCG Packaging, which dropped by 1.12%; and Siam Commercial Bank, which retreated 1.24%. Notably, Thai Oil soared by 5.88%, and True Corporation surged by 6.36%, while TTB Bank slipped 1.09% and companies such as Kasikornbank, Krung Thai Bank, Krung Thai Card, Siam Concrete, and CP All Public remained unchanged.
Wall Street's performance provided little direction, as major averages initially surged on Tuesday but subsequently stabilized, ending the day mixed. The Dow rose by 221.16 points, or 0.52%, closing at 42,518.28. Meanwhile, the NASDAQ dropped by 43.71 points, or 0.23%, to settle at 19,044.39, and the S&P 500 gained 6.69 points, or 0.11%, finishing at 5,842.91.
Early gains on Wall Street were attributed to a Labor Department report indicating producer prices rose slightly less than anticipated in December. This smaller-than-expected increase somewhat alleviated concerns about inflation and interest rate forecasts, although quicker annual growth tempered buying enthusiasm.
Investors may have also exercised caution ahead of the upcoming release of a more significant consumer price inflation report.
Oil prices retreated from five-month highs on Tuesday as investors concentrated on the potential effects of former President Donald Trump's proposed tariffs on imports. West Texas Intermediate crude oil futures for February ended lower by $1.32, or approximately 1.67%, closing at $77.50 per barrel.
The material has been provided by InstaForex Company -
www.instaforex.com
