The Stock Exchange of Thailand ended its session just above the 1,140-point benchmark on Thursday, marking two consecutive days of gains. Over this period, the index added over a dozen points, or more than 1 percent. Investors, however, are bracing for a weaker start on Friday, with global market instability and trade tensions continuing to dampen investor sentiment in the region.
The SET increased by 2.38 points, or 0.21 percent, reaching 1,141.28 by the closing bell. Throughout the session, the index moved between 1,133.90 and 1,145.19. This small gain was driven by positive movements in the food, consumer, finance, and industrial sectors. However, losses from the resource and technology industries held the overall upward momentum in check.
Wall Street Weakness Looms
Global financial markets remain under pressure, influencing expectations for Asian equities. The S&P 500 inched up slightly, gaining 0.13 percent to 5,282.70. Meanwhile, the NASDAQ slipped by 0.13 percent to 16,286.45. The Dow's decline was heavily influenced by UnitedHealth (UNH), which dropped 22.4 percent following disappointing earnings and a downgraded outlook for the year.
The week's broader performance in the U.S. was equally disappointing. The S&P 500, NASDAQ, and Dow all recorded declines for the shortened week, with the Dow falling 2.7 percent and the NASDAQ dropping 2.6 percent. Markets will remain closed on Friday due to the Good Friday holiday.
Meanwhile, crude oil prices saw a notable rebound, with West Texas Intermediate (WTI) crude jumping 3.5 percent to $64.68 per barrel. The spike came as fears over the impact of sanctions on Iran's oil exports continued to create volatility in energy markets.
In Thailand, several stocks stood out on Thursday. Bangkok Bank climbed 3.37 percent, while PTT Global Chemical surged by 7.02 percent. BTS Group added 2.54 percent, and Energy Absolute rose 5.88 percent. Other companies saw varied results, with Gulf sliding 1.59 percent and Kasikornbank dropping 2.27 percent.
Overall, the SET saw 356 stocks finish higher, 160 decline, and 153 remain flat. Trading volume reached 6.435 billion shares, valued at 29.808 billion baht. Key performers included Advanced Info, which fell 1.41 percent, and Thailand Airport, down 1.31 percent. On the positive side, Banpu added 1.40 percent, Bangkok Expressway climbed 1.74 percent, and B. Grimm rose 1.89 percent. SCG Packaging closed unchanged.
Economic data from the U.S. also added to the uncertainty. The Labor Department reported a slight drop in initial jobless claims, while the Commerce Department noted a sharper-than-expected decrease in new home construction in March. These reports, combined with ongoing trade tensions, contributed to market jitters across the globe.