The Thai stock market has experienced a decline over the past two sessions, losing over 15 points or 1.1 percent. Currently, the Stock Exchange of Thailand (SET) rests just above the 1,315-point mark, with expectations of minimal movement on Wednesday.
The global forecast for Asian markets suggests stability ahead of significant economic data releases later in the day. European markets have seen declines, while US markets presented a mixed picture, leading to the expectation that Asian markets will perform moderately.
On Tuesday, the SET edged slightly lower, with losses in the food, finance, property, and service sectors somewhat offset by gains in industrial and technology stocks. Specifically, the index fell by 2.47 points or 0.19 percent to close at 1,316.10, having fluctuated between 1,314.35 and 1,325.52. Trading volume reached 13.801 billion shares valued at 45.342 billion baht. There were 271 gainers, 216 decliners, and 173 stocks that remained unchanged.
Among the active stocks, Advanced Info increased by 0.96 percent, while Thailand Airport decreased by 0.82 percent. Banpu advanced 0.83 percent, Bangkok Bank and Krung Thai Card both dropped 1.11 percent. Bangkok Dusit Medical surged 1.87 percent, Bangkok Expressway gained 0.64 percent, BTS Group spiked 1.69 percent, while CP All Public fell 0.87 percent. Charoen Pokphand Foods retreated 1.34 percent, with Energy Absolute surging 5.50 percent. Gulf climbed 1.25 percent, while Kasikornbank stumbled 1.57 percent, and Krung Thai Bank slumped 1.13 percent. PTT Oil & Retail fell 0.59 percent, PTT dropped 0.78 percent, PTT Exploration and Production declined 1.32 percent, yet PTT Global Chemical improved 0.78 percent. Siam Commercial Bank dropped 0.96 percent, Thai Oil was down 1.00 percent, True Corporation weakened 1.20 percent, and TTB Bank shed 0.60 percent. SCG Packaging, Siam Concrete, Asset World, and B. Grimm remained unchanged.
Wall Street offered a mixed outlook as major indices opened lower on Tuesday but trended upwards throughout the day, ending mixed. The Dow Jones Industrial Average dropped 120.62 points or 0.31 percent to 38,747.42. In contrast, the NASDAQ surged 151.02 points or 0.88 percent to a record 17,343.55, and the S&P 500 added 14.53 points or 0.27 percent, ending at a record 5,375.32.
The NASDAQ's gains were partly fueled by a significant increase in Apple (AAPL) shares by 7.3 percent to a record high, following the unveiling of new AI features expected to drive device upgrades.
Investors are now focusing on two crucial economic events anticipated later today: the Labor Department’s inflation report for May and the Federal Reserve’s monetary policy announcement. While the Fed is expected to maintain interest rates, traders will closely analyze the accompanying statement and updated economic and interest rate projections.
Oil futures saw a slight rise on Tuesday, with West Texas Intermediate crude oil futures for July closing up by $0.16 at $77.90 per barrel, amid cautious trading ahead of the inventory data and the Federal Reserve's announcement.
