The Thai stock market has experienced a downturn, declining over five consecutive sessions and shedding more than 45 points, equating to a 3.3% loss. Currently, the Stock Exchange of Thailand hovers above the 1,300 mark, with expectations of stabilizing on Wednesday.
Globally, the outlook for Asian markets is positive due to reduced fears of an international trade conflict. While European markets showed mixed results, U.S. markets rose, suggesting that Asian markets might find a middle ground.
On Tuesday, the SET saw a slight decline. Losses in sectors such as food, consumer goods, industrials, property, resources, and technology were somewhat offset by gains in the financial sector.
The index dipped by 3.37 points or 0.26%, closing at 1,301.02. Trading ranged between 1,300.11 and 1,316.41 with a volume of 8.077 billion shares, totaling 41.739 billion baht. Out of the stocks, 292 declined, 188 advanced, and 189 remained unchanged. Notably, Thailand Airport rose 1.82%, Asset World dropped 1.27%, Banpu decreased 0.41%, Bangkok Bank increased 0.33%, while Bangkok Dusit Medical decreased 1.28%. B. Grimm plunged 4.03%, BTS Group surged 2.48%, CP All Public fell 1.43%, Charoen Pokphand Foods dropped 1.42%, and Energy Absolute fell by 3.38%. Meanwhile, Gulf surged 2.18%, Kasikornbank gained 2.52%, Krung Thai Bank increased 1.75%, Krung Thai Card advanced 0.98%. PTT Oil & Retail saw a decline of 0.88%, PTT decreased 0.81%, PTT Exploration and Production slipped 1.98%, PTT Global Chemical dipped 2.90%, SCG Packaging stumbled 3.13%, Siam Commercial Bank improved 0.79%, Siam Concrete fell 2.32%, Thai Oil decreased by 2.91%, True Corporation edged up 0.86%, TTB Bank retreated 0.51%, while Advanced Info and Bangkok Expressway remained unchanged.
Wall Street provided a positive lead, with key indices opening mixed but trending upward to close strongly in positive territory by the session's end.
The Dow advanced 134.13 points or 0.30% to finish at 44,556.04; the NASDAQ surged 262.06 points or 1.35% to close at 19,654.02; and the S&P 500 gained 43.31 points or 0.72% to conclude at 6,037.88.
Wall Street's rally was in part due to President Donald Trump's decision to temporarily halt the imposition of 25% tariffs on imports from Mexico and Canada.
Optimism was also fueled by a Labor Department report that indicated a significant drop in U.S. job openings in December, suggesting a potentially favorable interest rate outlook ahead of the more comprehensive monthly jobs report due on Friday.
In terms of commodities, oil prices decreased on Tuesday following the postponement of tariffs on Canadian and Mexican exports to the U.S., with West Texas Intermediate Crude oil futures for March settling at $72.70 a barrel, marking a decrease of $0.46 or approximately 0.63%.
