Thailand’s SET Index closed at 1,187.86 points, decreased 11.12 points or 0.93% with a trading value of THB 43,61 billion. The analyst stated that the drop in Thai market was due to the selloff pressure from energy stocks, which has been weighed by the plunging oil prices. Furthermore, the selloff in the tourism sector due to a decline in foreign arrivals also contributes toward downsides in the SET Index.
Additionally, the slower inflation in April also weighed domestic consumers’ product stocks from fears of potential recession.
The analyst expects the Thai market to trade sideways tomorrow.
The commerce ministry reported that Thailand’s headline consumer price index (CPI) decreased by 0.22% in April compared to the same period last year, following a 0.84% rise in the preceding month.
India has suggested the elimination of tariffs on steel, auto parts, and pharmaceuticals on a reciprocal arrangement, up to a specific import volume, during trade talks with the United States.
The European Union is preparing plans to halt new gas agreements with Russia by the end of this year and to terminate all existing supply contracts by 2027.
The U.S. will close its public comment on May 7 regarding an investigation into whether the heavy dependence on foreign products, such as semiconductors, is a national security threat. Afterward, the government will then decide whether to impose tariffs on such imports.
