The Baht rebounded while the SET closed above 1,200 points at the end of the week

• The Thai stock market surged from the previous week amid optimism towards trade negotiations between Thailand and the US.

        The SET rose almost throughout the week, surging over 80 points within a single week. The main driver was optimism that Thailand would reach a trade agreement with the US, following efforts by the Thai negotiation team to revise its proposal by opening more markets for the US. This led the market to anticipate a reduction in US tariffs on Thai exports at the rate that is almost on par with those of neighboring countries, which have already reached agreements with the US.
Such positive factor stimulated buying across all sectors, especially technology sector. However, the banking sector saw only modest gains, as investors assessed that 2Q-2025 performance results to be gradually released might not show significant growth. Additionally, there were concerns about a potential policy rate cut following news of the nomination of a new governor for the Bank of Thailand. The SET continued to surge towards the end of the week, reaching a two-month high of 1,210.01 points, driven by foreign investors’ purchases. However, investors continued to closely monitor the progress of Thailand-US trade negotiations.


•    On Friday, July 18, 2025, the SET closed at 1,206.58 points, up 7.62% over-week. The average daily trading value was THB48,357.52 million, up 60.50% over-week. The mai closed at 250.65 points, up 6.02% over-week. 
•    July 21-25, 2025, KSecurities expects the SET to have support at 1,160 and 1,125 points, but resistance at 1,230 and 1,255 points, respectively. KResearch advises investors to watch key factors, including Thailand’s June Exports, 2Q-2025 performance results of Thai listed companies, particular banking sector, issues related to US reciprocal tariffs, Fed officials’ remarks and foreign fund flows. The US economic data that warrant close monitoring include June Existing Home Sales, New Home Sales, Durable Goods Orders, July Manufacturing and Services PMI (Flash), plus Weekly Jobless Claims. Close attention must also be paid to the upcoming ECB meeting, plus July Manufacturing and Services PMI (Flash) of Japan, Eurozone and UK.