Stock Market in Thailand Anticipated to Commence Trading in the Negative on Monday
The Stock Exchange of Thailand experienced a sharp decline on Friday, with losses across multiple sectors including consumer, finance, industrial, property, resource, service, and technology. Among the active stocks, several notable companies such as Advanced Info, Thailand Airport, Asset World, Banpu, Bangkok Bank, Bangkok Dusit Medical, Bangkok Expressway, B. Grimm, BTS Group, CP All Public, Charoen Pokphand Foods, Energy Absolute, Gulf, Kasikornbank, Krung Thai Bank, Krung Thai Card, PTT Oil & Retail, PTT, PTT Exploration and Production, SCG Packaging, Siam Commercial Bank, Siam Concrete, Thai Oil, True Corporation, TTB Bank, and PTT Global Chemical experienced varying degrees of decline.
This downturn in the Thai stock market is partially attributed to the new U.S. tariffs and a weak American jobs report, which are expected to have a negative impact on Asian markets, including the Stock Exchange of Thailand and the technology sector. The tariffs—currently averaging around 18.6% and the highest since the 1930s—are driving up U.S. consumer prices, reducing real incomes, and lowering GDP growth, which will likely slow U.S. demand for imports from Asia.
The weak U.S. jobs report has intensified concerns of a U.S. economic slowdown, causing a sharper decline in U.S. equities and the dollar, with investors anticipating possible Federal Reserve interest rate cuts. This negative sentiment is expected to extend to Asian markets, with European and U.S. markets being sharply lower, and Asian markets following suit.
The technology sector in Asia could be particularly affected due to tariffs on advanced manufacturing goods and enduring U.S.-China trade frictions. Although some tariff exemptions exist, the broad tariff environment and weaker U.S. consumption dampen tech exports and investments.
The global forecast for Asian markets is broadly negative due to new U.S. tariffs and a weak American jobs report. The Dow Jones Industrial Average finished the week with a 2.9 percent decline, while the S&P 500 dropped 1.60 percent to end at 6,238.01. The NASDAQ Composite closed the week with a 2.2 percent drop.
The Thai stock market has fallen more than 25 points or 2 percent in consecutive trading days, with the Stock Exchange of Thailand currently just beneath the 1,220-point plateau. The White House announced new tariff rates on dozens of countries, and crude oil prices fell on Friday due to demand concerns for potentially reduced consumption amid new tariffs from the U.S. government.
Investors are advised to closely monitor market movements and make informed decisions based on the evolving economic landscape.
The global forecast for Asian markets, including the Stock Exchange of Thailand, predicts a continued downturn due to new U.S. tariffs and a weak American jobs report, with the technology sector potentially experiencing significant impact from tariffs on advanced manufacturing goods and ongoing U.S.-China trade frictions. The Thai stock market is currently experiencing a sharp decline, with key technology companies like Advanced Info and True Corporation among those affected.
