Lower Open Called For Thai Stock Market

(RTTNews) - The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had tumbled almost 40 points or 3.2 percent. The Stock Exchange of Thailand now sits just above the 1,175-point plateau and it figures to see continued consolidation on Tuesday.

The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

The SET finished sharply lower on Monday following losses among the food, consumer, financial, industrial, property, resource, services and technology sectors. For the day, the index tumbled 24.59 points or 2.05 percent to finish at the daily low of 1,177.44 after trading as high as 1,196.52. Volume was 8.104 billion shares worth 34.290 billion baht. There were 376 decliners and 127 gainers, with 164 stocks finishing unchanged. Among the actives, Advanced Info surrendered 2.19 percent, while Thailand Airport weakened 3.73 percent, Asset World tumbled 2.01 percent, Banpu declined 2.70 percent, Bangkok Bank retreated 1.34 percent, Bangkok Dusit Medical lost 2.98 percent, Bangkok Expressway fell 1.63 percent, B. Grimm cratered 6.45 percent, BTS Group slid 1.67 percent, CP All Public skidded 2.88 percent, Energy Absolute rallied 1.65 percent, Gulf shed 0.51 percent, Krung Thai Card stumbled 1.58 percent, PTT Oil & Retail sank 3.57 percent, PTT crashed 5.04 percent, PTT Exploration and Production jumped 1.40 percent, PTT Global Chemical tanked 2.35 percent, SCG Packaging plunged 3.38 percent, Siam Commercial Bank advanced 0.82 percent, Siam Concrete plummeted 4.28 percent, Thai Oil slumped 1.78 percent, True Corporation dropped 0.91 percent, TTB Bank collected 0.53 percent and Charoen Pokphand Foods, Kasikornbank and Krung Thai Bank were unchanged.

The lead from Wall Street suggests continued consolidation as the major averages opened lower on Monday and continued to weaken as the day progressed.

The Dow plummeted 890.01 points or 2.08 percent to finish at 41,911.71, while the NASDAQ crashed 727.90 points or 4.00 percent to close at 17,468.32 and the S&P 500 stumbled 155.64 points or 2.70 percent to end at 5,614.56.

The weakness on Wall Street came amidst rising concerns about the outlook for economic growth and corporate earnings after U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.

With a slew of crucial economic data due later in the week, the mood in the market is extremely cautious. On tap are reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations.

Oil prices fell to six-month lows on Monday as worries about global economic growth and fears of a U.S. recession fueled demand concerns. West Texas Intermediate Crude oil futures settled lower by $1.01 or 1.5 percent at $66.03 a barrel, the lowest settlement since September 10, 2024.