Thailand’s SET Index closed at 1,214.39 points, increased 3.45 points or 0.28% with a trading value of THB 50.86 billion. The analyst stated that the Thai market surged in tandem with the regional markets after the U.S. and China reached a preliminary trade agreement, increasing the prospect of further tariffs being cut for other countries.
Domestically, stocks in the Laggard group, including banking, petrochemical, and packaging, experienced buying forces. However, the profit-taking activities weighed the market in the afternoon session.
The analyst expects continued upside speculative buying and suggests investors closely monitor the Office of the National Economic and Social Development Council (NESDC) 1Q25 GDP figure set to come out early next week.
After months of trade tension between the U.S. and China, the world’s two largest economies have made successful negotiation, easing the escalating trade war that affects global trade and economy.
The Trump administration has announced a significant reduction to the so-called “de minimis” tariff on small parcels arriving from China, slashing the rate to 54% from the previously planned 120%, while retaining a $100 flat fee.
As the Russian invasion of Ukraine passed its third year, the leaders of the two nations may officially meet each other face-to-face for the first time since December 2019 to discuss peace talks with U.S. President Donald Trump possibly joining.
