Thailand’s SET Index closed at 1,178.43 points, increased 2.07 points or 0.18% with a trading value of THB 27.69 billion. The analyst stated that the Thai market traded narrowly sideways, with a positive trend seen at the start of the trading session. This followed the decision by the U.S. President Donald Trump delayed the imposition of a 50% tariff on the European Union. However, the morning rally is short lived as the U.S. tariff policies still weigh the global economy.
Domestically, Thailand’s export grew slower than anticipated, and may continue to slow down, which raised concerns among investors.
For tomorrow, the analyst expects the Thai market to trade narrowly sideways due to lack of supporting factors.
Thailand reported a 10.2% increase in its customs-cleared exports in April compared to the same time last year. This figure exceeded analysts’ predictions, which anticipated a 9.1% growth based on a Reuters poll.
Leaders of 10 Southeast Asia nations began their first biannual meeting with an agenda likely to focus on trade and economic cooperation, and possibly on conflicts in Gaza and Myanmar.
On Sunday, U.S. President Donald Trump decided against implementing 50% tariffs on European imports as previously threatened. He agreed to shift the deadline for trade negotiations to July 9, after the European Union’s top executive, Ursula von der Leyen, requested additional time to secure a favorable deal.
On another front, Trump showed signs of impatience with President Vladimir Putin, directing some of his most intense criticism at the Russian leader as Russia continues its relentless campaign of striking Kyiv and other cities in Ukraine with drones and missiles for the third night in a row.
