• The SET tumbled amid concerns over trade wars and domestic political issues.
The SET briefly surged early in the week in line with other bourses as the Fed Chairman signaled interest rate cuts could be on the horizon. This was further supported by continued growth in Thailand’s exports in July 2025. The said positive factors spurred buying across various sectors, especially finance, power plants, and electronic component manufacturing.
However, the SET later declined due to selling pressure from foreign investors, following reports that the US President dismissed Federal Reserve Governor Lisa Cook and threatened to impose import tariffs of up to 200% on China if China restricts exports of rare earth magnets to the US. Additionally, investors remained cautious while awaiting clearer domestic political developments. The SET fell sharply towards the end of the week after the Constitutional Court dismissed suspended Prime Minister Paetongtarn Shinawatra from office along with her cabinet members. This triggered heavy selling in various sectors, led by energy, retail, and telecommunications.
• On Friday, August 29, 2025, the SET closed at 1,236.61 points, down 1.34% over-week. The average daily trading value was THB46,844.96 million, up 11.96% over-week. The mai closed at 248.86 points, down 1.04% over-week.
• September 1-5, 2025, KSecurities expects the SET to have support at 1,225 and 1,200 points, but resistance at 1,245 and 1,265 points, respectively. KResearch advises investors to watch key factors, including Thailand’s August Inflation, domestic political issues, and foreign fund flows. The US economic data that warrant close monitoring include August Manufacturing and Service PMI/ISM, ADP Employment Report, Non-farm Payrolls and Unemployment Rate, plus Weekly Jobless Claims. Close attention must also be paid to August Manufacturing and Service PMI of Japan, China and Eurozone, plus Eurozone’s August CPI (Flash), July PPI and GDP report for 2Q-2025.
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