Thailand’s SET Index closed at 1,409.35 points, decreased 20.45 points or 1.43%, with a trading value of THB 60.44 billion. The analyst stated that the Thai market declined along with the global market trends, due to concerns over the prolonged war in the Middle East, raising pressure on oil prices and inflation.
Furthermore, the launch of Section 301 probes by the U.S. on over 10 nations also played a part in the market trend.
For next week, the analyst expects the Thai market to move sideways-down, recommending investors closely monitor the Federal Reserve’s Dot Plot and its meeting.
The United States Trade Representative (USTR) announced the self-initiation of Section 301 investigations targeting 60 of the nation’s largest trading partners. The investigations are grounded in Section 301(b) of the Trade Act of 1974, which empowers the USTR to address unfair foreign practices that disadvantage American industries.
China sharply rejected a U.S. trade investigation into alleged industrial overcapacity, warning it may respond with countermeasures. The dispute casts uncertainty over imminent trade discussions as negotiators from both nations prepare for a fresh round of talks.
The U.S. has approved a 30-day exemption permitting countries to acquire Russian-origin oil and petroleum products currently stranded at sea. The authorization comes as Washington seeks to mitigate heightened volatility in global energy markets following the outbreak of conflict with Iran.
