Thailand’s SET Index closed at 1,270.49 points, decreased 11.60 points or 0.90% with a trading value of THB 43.21 billion. The analyst stated that the Thai market underperformed regional peers with weakened trading volume. The index has retreated around 8-9% year-to-date (YTD), with the Thai market under pressure from trade war uncertainties. Recently, President Donald Trump imposed duties on iron, aluminum, and other imports, while Thailand may not be directly affected, other countries in the region which exports the aforementioned goods could indirectly impact Thailand.
The analyst stated that, tomorrow, the Thai market is expected to be under continuous pressure from the trade war.
TSMC announced on Monday that its first-quarter revenue is likely to trend towards the lower end of its forecast range due to an estimated $161 million blow stemming from an earthquake in January on the island.
President Donald Trump said that he would announce an additional 25% tariff on all steel and aluminum imports to the US, on top of existing metal duties.
Furthermore, Trump stated that he would introduce additional reciprocal tariffs, matching the tariff rates imposed by other countries. This additional tariff may impact trade with Canada, Brazil, Mexico, South Korea, and Vietnam, as they are the US’ largest steel exporters.
Meanwhile, Indian Prime Minister Narendra Modi is preparing to introduce further reductions in tariffs prior to his upcoming meeting with Trump, aiming to potentially increase American exports to India and prevent a looming trade conflict.
