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31 Mar 2025

Financial Markets

The Baht weakened while the SET dropped over-week

คะแนนเฉลี่ย
  • The Thai stock market tumbled at the end of the week amid concerns about the impact of trade wars; the Stock Exchange of Thailand suspended all trading activities for the afternoon session on Friday due to the powerful earthquake.
        The SET moved within a narrow range almost throughout the week. Initially, it was boosted by the news that US may soften its reciprocal tariffs which soothed investor worried about trade wars. The SET was also boosted by the purchases of individual stocks, particularly those of a major energy company and a major retail company due to stock repurchase plan, plus a major electronics producer. The gains, however, were capped as investors remained concerned about uncertainties surrounding trade wars.
        However, after President Donald Trump announced 25% tariffs on car imports to US effective on April 2, investors were concerned about the escalation of trade wars, thus adopting a risk-off mode. The trading volume during the week was relatively thin, especially on Friday after a strong earthquake struck Thailand, causing the Stock Exchange of Thailand to suspend all trading activities for the afternoon session. Nonetheless, banking stocks outperformed other sectors, as boosted by purchases ahead of dividend payments and release of 1Q-2025 performance results.
  • On Friday, March 28, 2025, the SET closed at 1,175.45 points, down 0.94% over-week. The average daily trading value was THB25,147.89 million, down 40.04% over-week. The mai closed at 242.90 points, down 1.49% over-week.
  • March 31 – April 1, 2025, KSecurities expects the SET to have support at 1,165 and 1,155 points, but resistance at 1,185 and 1,200 points, respectively. KResearch advises investors to watch key factors, including Thailand’s March Inflation, trade conflicts between US and its trading partners, and foreign fund flows. The US economic data that warrant close monitoring include March Manufacturing and Services ISM/PMI, ADP Employment Report, Non-farm Payrolls and Unemployment Rate, plus Weekly Jobless Claims. Close attention must also be paid to March Manufacturing and Services PMI of Japan, China and Eurozone, Eurozone’s March CPI (Flash) and February PPI, plus Japan’s February Industrial Production. 

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Financial Markets