Thai Stock Market dips Amidst Global Uncertainty
Bangkok, Thailand – January 6, 2025 – The Thai Stock Exchange of Thailand (SET) index closed lower today, mirroring a broader trend in Asian markets. The SET index finished at 1,372.65 points, a decrease of 12.11 points (-0.87%), with a trading volume of approximately 37,273.82 million baht.The decline reflects a confluence of factors,including persistent economic headwinds and lingering global uncertainty.
The day’s trading saw the index fluctuate between a low of 1,370.69 points and a high of 1,390.84 points.Of the securities traded, 102 saw increases, 409 experienced declines, and 160 remained unchanged.
According to Narongdet Chanthapaisarn, Director of Securities Analysis at AIRA Securities, “The Thai stock market has dropped today. This is in line with other stock markets in Asia. there haven’t been any new positive factors. And the overall Thai economy still has challenges. There is also pressure from power plant stocks. Receive the idea of reducing electricity costs to 3.70 baht per unit and stocks in the communications group that are being sold off to make a profit. From concerns about the law to refund money to victims of call center gangs while foreign factors Investors are still waiting to see Trump’s policies. There may be a risk of signaling a more serious trade war.”
Chanthapaisarn’s analysis highlights several key concerns impacting investor sentiment. These include the ongoing challenges facing the Thai economy, pressure on energy sector stocks due to potential electricity price reductions, and profit-taking in the communications sector. Furthermore, the lingering uncertainty surrounding global trade policies adds to the overall cautious outlook.
Looking ahead, Chanthapaisarn anticipates further downward adjustments in the market in the near term, stating that “Tomorrow the market is expected to continue to adjust downwards since there are still no new positive factors. Keep the support level at 1,366-1,360 points and the resistance level at 1,380-1,385 points.”
Top Performing Stocks
Among the most actively traded stocks, KBANK saw a significant increase, closing at 158.00 baht (up 3.50 baht) with a trading volume of 2,351.36 million baht. other notable performers included BBL (153.50 baht, up 1.00 baht) and PTTEP (125.50 baht, up 1.50 baht). Conversely, GULF experienced a decline, closing at 56.25 baht (down 1.25 baht) with a trading volume of 1,729.75 million baht. KTB also saw a slight increase, closing at 21.60 baht (up 0.10 baht).
The situation in Thailand’s stock market underscores the interconnectedness of global financial markets. Similar to recent fluctuations in U.S. markets, the Thai SET’s performance reflects a complex interplay of domestic economic conditions and broader international uncertainties. Investors are advised to monitor developments closely.
By Phacharathorn Phumikham/Ratchada Kongkhun
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