Lower Open Predicted For Thai Stock Market

(RTTNews) - The Thai Stock market has moved lower in three straight sessions, sinking more than 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now sits just above the 1,515-point plateau and it figures to remain stuck in neutral again on Wednesday.

The global forecast for the Asian markets is weak on continued concerns over the conflict in the Middle East and on the outlook got interest rates. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The SET finished slightly lower again on Tuesday as losses from the industrial and technology sectors were offset by support from the property and service stocks.

For the day, the index slipped 1.05 points or 0.07 percent to finish at 1,516.69 after trading between 1,509.26 and 1,524.01. Volume was 10.050 billion shares worth 51.257 billion baht. There were 260 gainers and 206 decliners, with 190 stocks finishing unchanged.

Among the actives, Advanced Info climbed 1.10 percent, while Thailand Airport was up 0.48 percent, Asset World advanced 0.94 percent, Banpu increased 0.89 percent, Bangkok Expressway jumped 0.96 percent, B. Grimm vaulted 1.55 percent, CP All Public skidded 1.05 percent, Energy Absolute tanked 2.11 percent, Gulf gained 0.83 percent, Kasikornbank slipped 0.25 percent, Krung Thai Bank sank 0.72 percent, Krung Thai Card improved 0.87 percent, PTT Exploration and Production slumped 0.97 percent, PTT Global Chemical retreated 1.30 percent, SCG Packaging declined 1.27 percent, Siam Commercial Bank fell 0.37 percent, Siam Concrete shed 0.44 percent, Thai Oil contracted 1.57 percent, True Corporation added 0.69 percent and TTB Bank, Charoen Pokphand Foods, Bangkok Bank, PTT Oil & Retail, PTT, Bangkok Dusit Medical and BTS Group were unchanged.

The lead from Wall Street is negative as the major averages opened lower on Tuesday and remained in the red throughout the trading day.

The Dow slumped 322.24 points or 0.65 percent to finish at 49,363.88, while the NASDAQ tumbled 220.03 points or 0.84 percent to close at 25,870.71 and the S&P 500 sank 49.44 points or 0.67 percent to end at 7,353.61.

The weakness on Wall Street came amid an extended surge by treasury yields, with the yield on the benchmark ten-year note jumping to its highest levels since January 2025.

Concerns about elevated crude oil prices leading to a sustained acceleration in the pace of inflation continued to drive yields higher and increase the possibility of an interest rate hike.

Crude oil prices took a breather on Tuesday following news the U.S. is halting its planned attacks on Iran, although the Strait of Hormuz remains closed. West Texas Intermediate crude for June was down $0.07 or 0.1 percent at $108.59 per barrel.