(RTTNews) – The Thai stock market inched higher again on Monday, one session after ending the four-day winning streak in which it had advanced almost 65 points or 4.8 percent. The Stock Exchange of Thailand now rests just above the 1,480-point plateau and it may tick lower again on Tuesday.
The global forecast for the Asian markets is negative due to uncertainty surrounding U.S. tariff policies. The European and U.S. markets were down and the Asian bourses are expected to follow suit.
The SET finished barely higher on Monday as gains from the consumer and technology sectors were offset by weakness from the finance and resource stocks.
For the day, the index perked 0.53 points or 0.04 percent to finish at 1,480.24 after trading between 1,468.02 and 1,506.08. Volume was 12.238 billion shares worth 85.887 billion baht. There were 361 decliners and 152 gainers, with 155 stocks finishing unchanged.
Among the actives, Advanced Info gained 0.52 percent, while Thailand Airport lost 5.31 percent, Asset World plunged 2.36 percent, Banpu cratered 3.25 percent, Bangkok Bank declined 1.41 percent, Bangkok Dusit Medical surrendered 2.73 percent, Bangkok Expressway fell 3.33 percent, B. Grimm shed 0.65 percent, BTS Group was down 3.23 percent, CP All Public sank 1.91 percent, Charoen Pokphand Foods retreated 1.40 percent, Energy Absolute crashed 3.16 percent, Kasikornbank tumbled 1.95 percent, Krung Thai Bank contracted 1.48 percent, Krung Thai Card slumped 1.49 percent, PTT Oil & Retail plummeted 3.47 percent, PTT dropped 1.35 percent, PTT Exploration and Production stumbled 2.19 percent, SCG Packaging vaulted 1.45 percent, Siam Commercial Bank skidded 1.01 percent, Siam Concrete added 0.45 percent, Thai Oil jumped 1.42 percent, True Corporation rallied 2.19 percent, TTB Bank collected 0.87 percent and PTT Global Chemical and Gulf were unchanged.
The lead from Wall Street is bleak as the major averages opened lower and remained in the red throughout the session, ending near daily lows.
The Dow plummeted 821.91 points or 1.66 percent to finish at 48,804.06, while the NASDAQ tumbled 258.79 points or 1.13 percent to close at 22,627.27 and the S&P 500 dropped 71.76 points or 1.04 percent to end at 6,837.75.
The sell-off on Wall Street came amid renewed trade uncertainty following the Supreme Court’s decision last Friday striking down most of President Donald Trump’s sweeping global tariffs.
Meanwhile, the European Commission issued a statement requesting “full clarity” on the steps the U.S. intends to take following the Supreme Court decision.
Negative sentiment was also generated in reaction to a nosedive by shares of IBM Corp. (IBM) after Anthropic’s Claude announced COBOL capabilities. COBOL is a programming language used widely in business data processing, which is a core business for IBM.
Crude oil prices sputtered on Monday as demand concerns reappeared following the uncertainty generated by the tariff issues. West Texas Intermediate crude for April delivery slipped $0.10 or 0.15 percent to $66.38 per barrel.
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