Thailand’s SET Index closed at 1,160.06 points, decreased 27.57 points or 2.32% with a trading value of THB 46.28 billion. The analyst stated that the Thai market edged lower as investors have priced in the positive sentiment from ThaiESG X in the previous session, while there were no new supporting factors.
The market was also pressured by uncertainties over the U.S. trade war.
Investors are closely monitoring the U.S. CPI figure set to be released tonight, with the potential occurrence of volatility in equity markets should the figure exceed expectations.
Additionally, the Thai market is also facing issues from slowing economic growth, while its valuation soared above regional peers.
For tomorrow, the analyst suggested traders closely observe the U.S. February CPI figure while expecting a continued downward trend in the overall outlook, with the possibility for a technical rebound.
Singapore has officially elevated its bilateral relations with Vietnam to the highest level of Comprehensive Strategic Partnership (CSP), a first for the city-state with an ASEAN member.
The European Union announced plans to impose tariffs on EUR 26 billion ($28 billion) of American goods starting next month, intensifying trade tensions following U.S. tariffs on steel and aluminium.
Ukrainian President Volodymyr Zelenskyy announced on Tuesday that Ukraine has agreed to a 30-day ceasefire proposed by the United States. This decision follows significant diplomatic discussions between US and Ukrainian officials held in Saudi Arabia.
U.S. President Donald Trump eased back on his recent trade threat on Canada shortly after making it, while attempting to downplay the likelihood of an economic recession spurred by tariffs that have significantly impacted U.S. markets.
Trump initially threatened to raise tariffs on Canadian steel and aluminum to 50%, following Ontario’s announcement of a planned surcharge on electricity exported to the U.S. However, the U.S. president later reverted to the existing 25% tariffs after Ontario rescinded its decision.
