Thailand’s SET Index closed at 1,144.05 points, increased 9.34 points or 0.82% with a trading value of THB 35.68 billion. The analyst stated that the Thai experienced volatility with the index dipping in the morning before bouncing back into positive territory by the close. This recovery was driven by strong buying interest in big-cap stocks, notably CPALL and GULF, alongside a technical rebound. Although the pressure on banking stocks eased, the market continued to lack strong catalysts.
The analyst expected the Thai market to trade sideways-up within a limited range tomorrow.
Thailand’s industrial sentiment dipped in March amid apprehensions regarding U.S. tariffs. The industrial sentiment index plummeted to 91.8 from February’s 93.4. Additionally, an FTI index forecasting sentiment for the upcoming three months also saw its first decrease in three months, sinking to 95.7 from the previous survey’s 97.6.
Pichai Chunhavajira, the Deputy Prime Minister and Minister of Finance of Thailand, announced that the Cabinet has approved the appointment of Mr. Somchai Sujjapongse, a former Permanent Secretary of the Ministry of Finance, as the new Chairman of the Bank of Thailand.
Thailand’s Prime Minister Paetongtarn Shinawatra announced that negotiations over trade tariffs between the country and the United States have been delayed as Washington has requested Bangkok to reassess certain critical issues.
U.S. trade regulators have enforced significant tariffs on solar cells predominantly imported from Southeast Asia, marking a pivotal move in a protracted trade case.
The tariffs differ based on company and nation but are generally higher than those initially proposed late last year. Among these, tariffs on Jinko Solar’s products from Malaysia are at a lower end, set at 41.56%, while Thai operations of competitor Trina Solar face tariffs reaching 375.19%. Cambodian products face staggering duties exceeding 3,500%, due to non-cooperation with the U.S. investigation.
