Thailand’s SET Index closed at 1,274.61 points, decreased 16.85 points or 1.30%, with a trading value of THB 36.76 billion. The analyst stated that the Thai market plunged due to downward sentiment from the U.S. government shutdown and concerns over credit quality in the banking sector.
Furthermore, the market still lacks supporting factors, while being pressured by selloffs in big-cap stocks.
The analyst expects the Thai market to trade sideways next week.
Thailand’s Board of Investment (BOI) is accelerating investment approvals, aiming to expedite projects totaling 300 billion baht within the next four months, as officials step up efforts to revive economic momentum.
China pushed back firmly against U.S. criticism of its rare earth export controls, accusing Washington of creating unnecessary alarm and misrepresenting Chinese policies. In addition, the world’s second-largest economy also rejected a White House request to lift the restrictions.
U.S. equities retreated, relinquishing earlier advances as investor confidence was shaken by a downturn in financial shares amid mounting concerns over deteriorating loan quality. Skepticism also lingered over international trade relations and a continued government shutdown, further rattling market sentiment.
Gold soared to unprecedented levels, breaking through the $4,300 per ounce barrier for the first time and sending the precious metal’s total market capitalization to $30 trillion. Spot gold climbed as high as $4,312, while U.S. December futures reached $4,328.70, both establishing new all-time highs.
