(RTTNews) – The Thai stock market experienced a week of fluctuating performance, closing the recent three-day decline with minimal gains. The Stock Exchange of Thailand remains positioned just above the 1,625-point threshold, with forecasts suggesting further consolidation during Tuesday’s trading session.
Global economic conditions continue to exert downward pressure on Asian markets, driven by rising crude oil prices and heightened geopolitical tensions in the Middle East. European and U.S. indices experienced declines, and Asian exchanges are expected to mirror this trend.
On Monday, the SET index surged 17.38 points (1.08%) to close at 1,626.44, with trading volume reaching 11.938 billion shares valued at 75.660 billion baht. Gains were broad-based across sectors including food, consumer goods, finance, industrial, property, resources, services, and technology.
The index traded within a range of 1,613.30 to 1,632.08, with 314 advancing stocks, 173 declining stocks, and 164 unchanged equities.
Wall Street extended its recent weakness, with major indices opening mixed but ultimately closing near session lows.
The Dow Jones Industrial Average fell 272.63 points (0.51%) to 53,459.78, the S&P 500 dropped 40.70 points (0.52%) to 7,745.06, and the Nasdaq Composite declined 84.25 points (0.32%) to 26,644.91.
The downturn mirrored concerns over escalating energy costs and Middle East instability, with West Texas Intermediate crude oil prices rising $2.28 (2.8%) to $84.68 per barrel amid expectations of Iran’s refusal to extend the U.S.-brokered 60-day ceasefire that expired Monday.
Energy markets reacted strongly to supply uncertainties, with airline stocks leading declines alongside software, telecommunications, computer hardware, and housing sectors.
