Thai Shares May Take Further Damage On Thursday

(RTTNews) - The Thai stock market has tracked lower in two straight sessions, slipping almost 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,160-point plateau and it's expected to open to the downside again on Thursday.

The global forecast for the Asian markets is soft amid continued uncertainty over U.S. trade policies. The European and U.S. markets were down and the Asian bourses figure to open in similar fashion.

The SET finished slightly lower on Wednesday as losses from the food, finance, resource and technology stocks were mitigated by support from the consumer, industrial, property and service sectors.

For the day, the index dipped 2.68 points or 0.23 percent to finish at 1,160.74 after trading between 1,160.59 and 1,173.68. Volume was 8.233 billion shares worth 36.281 billion baht. There were 238 decliners and 231 gainers, with 194 stocks finishing unchanged.

Among the actives, Advanced Info retreated 1.37 percent, while Thailand Airport advanced 2.27 percent, Asset World accelerated 2.54 percent, Banpu spiked 2.13 percent, Bangkok Bank shed 0.69 percent, Bangkok Expressway increased 0.93 percent, B. Grimm rallied 2.63 percent, BTS Group gained 2.70 percent, CP All Public climbed 1.58 percent, Charoen Pokphand Foods dropped 0.99 percent, Energy Absolute strengthened 3.14 percent, Gulf stumbled 2.16 percent, Kasikornbank plunged 3.11 percent, Krung Thai Bank collected 0.45 percent, Krung Thai Card jumped 1.80 percent, PTT Exploration and Production dipped 0.25 percent, PTT Global Chemical surged 4.02 percent, SCG Packaging soared 4.22 percent, Siam Commercial Bank fell 0.42 percent, Siam Concrete skyrocketed 5.36 percent, Thai Oil improved 1.69 percent, TTB Bank climbed 1.04 percent and True Corporation, PTT Oil & Retail, PTT and Bangkok Dusit Medical were unchanged.

The lead from Wall Street is soft as the major averages shook off a mildly positive open and headed south through the balance of the session, ending at daily lows.

The Dow dropped 244.95 points or 0.58 percent to finish at 42,098.70, while the NASDAQ sank 98.23 points or 0.51 percent to close at 19,100.94 and the S&P 500 slumped 32.99 points or 0.56 percent to end at 5,888.55.

The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of earnings news from AI darling and market leader Nvidia (NVDA) after Wednesday's close.

The earnings news after the bell showed that Nvidia beat the street on earnings and revenue, possibly lending support to technology shares going forward.

Lingering uncertainty about President Donald Trump's trade policies also kept some traders on the sidelines following recent volatility.

Crude oil prices moved sharply higher on Wednesday on news that OPEC will establish output quotas for 2027. West Texas Intermediate crude for July delivery climbed $0.87 or 1.43 percent to $61.76 per barrel.