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10 Mar 2025

Financial Markets

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

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  • The Thai stock market fluctuated throughout the week, hitting its lowest in nearly 5 years early in the week before recovering at the end of the week.
        The SET tumbled early in the week, dropping below 1,200 points to hit its lowest in nearly 5 years (4 years and 11 months) at 1,173.13 points amid profit-taking in individual stocks, especially those of technology companies, and concerns about the impact of trade wars as US has imposed 25% tariffs on Canadian and Mexican goods, and an extra 10% tariffs on Chinese imports from March 4 onwards, and China quickly announced retaliatory tariffs against US.
         The SET surged around the middle of the week in line with other regional bourses, as the market was less concerned about trade wars after US Commerce Secretary suggested that US will probably announce a compromise with Canada and Mexico on trade deals (US later announced an extension of tariff exemption on several goods for a month), coupled with news report about China’s plan to stimulate its economy. However, the SET dropped later before recovering at the end of the week in contrast to other regional bourses, boosted by news reports that the Ministry of Finance will launch measures to restore confidence in the capital market, leading the SET to rise above 1,200 points before the closing bell.
  • On Friday, March 7, 2025, the SET closed at 1,202.03 points, down 0.14% over-week. The average daily trading value was THB44,592.24 million, down 21.97% over-week. The mai closed at 252.19 points, down 1.47% over-week.
  • March 10-14, 2025, KSecurities expects the SET to have support at 1,180 and 1,170 points, but resistance at 1,220 and 1,230 points, respectively. KResearch advises investors to watch key factors, including trade conflicts between US and its trading partners, and foreign fund flows. The US economic data that warrant close monitoring include February CPI and PPI, plus Weekly Jobless Claims. Close attention must also be paid to Japan’s GDP report for 4Q-2024 and February PPI, January Industrial Production of Eurozone and UK, plus China’s February New Yuan Loans.

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Financial Markets