Thailand’s SET Index closed at 1,125.21 points, decreased 36.60 points or 3.15% with a trading value of THB 48.28 billion. The analyst stated that the Thai market plunged to its 5-year low, in line with the movements seen in the international markets. The sharp decline was due to concerns about global recessions after the U.S. declared trade wars with its trading partners, causing investors to sell their stocks to mitigate risk.
Additionally, the Thai energy stocks were also pressured by the agreement from OPEC+ nations to increase crude production, leading to a slump in oil prices.
The analyst expects the Thai market to trade sideways with volatility next week.
President Donald Trump suggested a potential reduction in tariffs if other countries offer something “phenomenal,” indicating the White House remains open to negotiations despite differing views from some key aides.
The Bank of Thailand (BOT), revealed that the U.S.’ 37% reciprocal tariffs on Thailand, which will take effect on April 9, 2025, is a rate higher than anticipated. The central bank is currently evaluating the impact on the Thai economy while taking several factors and channels into account.
Vietnam’s stock market saw some life at the end of the trading session on Friday after the report that the nation is taking prompt action on negotiating with the Trump Administration about tariffs.
China’s finance ministry announced it would enact an additional 34% tariff on all goods imported from the U.S. in a retaliation move to Washington’s reciprocal tariffs. The new tariff imposed by Beijing will come into effect on April 10.
Following 111 days after the impeachment of Yoon Suk Yeol from office, South Korea’s Constitutional Court decided to uphold the impeachment of the now-former president, removing him from office completely.
