The Thai stock market has been experiencing a downward trend for the past three sessions, losing nearly 6 points or 0.4 percent during this period. Currently, the Stock Exchange of Thailand is just below the 1,375-point level and it looks set to continue this decline.
Renewed concerns over the future of interest rates is causing unease in global markets, making the forecast for the Asian markets somewhat bleak. While European markets made small gains, the American markets suffered significant losses, and it appears the Asian markets are following suit.
On Thursday, the SET (Stock Exchange of Thailand) ended slightly lower due to losses in various sectors including food, finance, industrial, property and technology.
During the day, the index decreased by 1.80 points or 0.13 percent, closing at 1,373.89 points after fluctuating between 1,368.80 and 1,379.41. The trading volume was sizable with 7.248 billion shares, worth 30.663 billion baht, changing hands. The day ended with 342 decliners, 150 gainers and 170 stocks remaining static.
In terms of specific stocks, Advanced Info fell by 0.49 percent, Thailand Airport rose by 0.38 percent, and Asset World added 0.48 percent, while Banpu and Siam Commercial Bank both slipped by 0.89 percent.
American stock markets had a broadly negative day on Thursday. Despite opening stronger, a late dive resulted in significant losses.
The Dow dropped 530.16 points or 1.35 percent, ending at 38,596.98. Similarly, the NASDAQ fell 228.38 points or 1.40 percent, closing at 16,049.08, while the S&P 500 declined by 64.28 points or 1.23 percent to close at 5,147.21.
Oil prices rose for the fifth consecutive session, creating concern that heightened energy prices could perpetuate elevated inflation levels and potentially deter the Federal Reserve from reducing interest rates.
Signals for the rate cut in June remain ambiguous despite a noticable increase in first-time claims for U.S. unemployment benefits last week, which some see as a positive shift in interest rate outlook.
Domestically, data for Thailand's consumer prices for March will be released soon. In February, overall inflation fell 0.77 percent year on year, while core CPI increased by 0.43 percent annually.
