Losing Streak May Continue For Thai Stock Market

(RTTNews) - The Thai stock market has moved lower in three straight sessions, sinking almost 100 points or 9 percent in that span. The Stock Exchange of Thailand now sits just beneath the 1,075-point plateau and it's looking at another soft start again on Wednesday.

The global forecast suggests volatility, with wild swings on deeply discounted stocks tempered by ongoing trade concerns. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The SET finished sharply lower on Tuesday following losses from the food, consumer, finance, industrial, property, resource and service sectors.

For the day, the index plunged 50.62 points or 4.50 percent to finish at 1,074.59 after trading between 1,056.41 and 1,083.75. Volume was 12.256 billion shares worth 66.790 billion baht. There were 608 decliners and 21 gainers, with 39 stocks finishing unchanged.

Among the actives, Advanced Info dipped 0.37 percent, while Thailand Airport gave up 3.36 percent, Asset World crashed 8.55 percent, Banpu shed 2.39 percent, Bangkok Bank tumbled 5.00 percent, Bangkok Dusit Medical eased 1.78 percent, Bangkok Expressway fell 0.95 percent, B. Grimm skidded 5.15 percent, BTS Group liquidated 10.80 percent, CP All Public slipped 4.02 percent, Charoen Pokphand Foods stumbled 5.93 percent, Energy Absolute sank 10 percent, Gulf dropped 11.11 percent, Kasikornbank plunged 8.46 percent, Krung Thai Bank contracted 7.93 percent, Krung Thai Card surrendered 5.35 percent, PTT Oil & Retail slid 4.17 percent, PTT weakened 3.97 percent, PTT Exploration and Production lost 9.20 percent, PTT Global Chemical cratered 6.96 percent, SCG Packaging plummeted 7.38 percent, Siam Commercial Bank tanked 6.94 percent, Siam Concrete slumped 6.14 percent, Thai Oil was down 7.66 percent, True Corporation jumped 1.74 percent and TTB Bank retreated 3.11 percent.

The lead from Wall Street suggests further consolidation as the major averages opened in the green on Tuesday but faded as the day progressed, ending firmly under water.

The Dow stumbled 320.01 points or 0.84 percent to finish at 37,645.69, while the NASDAQ plunged 335.35 points or 2.15 percent to close at 15,267.91 and the S&P 500 dropped 79.48 points or 1.57 percent to end at 4,982.77.

The early rally on Wall Street partly reflected optimism about negotiations on President Donald Trump's new tariffs that could help avoid a global trade war.

Buying waned over the course of the session, however, as tensions over tariffs continue to rise between the U.S. and China.

After showing a strong move to the upside early in the session, the price of crude oil once again came under pressure over the course of the trading day on Tuesday. West Texas Intermediate for May delivery tumbled $1.12 or 1.9 percent to $59.58 a barrel, its lowest level since April 2021.