Thailand’s SET Index closed at 1,158.09 points, decreased 17.36 points or 1.48% with a trading value of THB 40.26 billion. The analyst stated that the Thai market plunged due to concerns over the implementation of U.S. President Donald Trump’s tariff policies on April 2, and higher-than-expected inflation figure fueling prediction of slower rate cuts.
Domestically, the Thai market experienced panic sell on banking and real estate stocks due to the March 28 earthquake.
The analyst expected the Thai market to continue its decline tomorrow.
As per analysts, Thailand’s economic forecast has deteriorated following the devastating March 28 earthquake in Myanmar, heightening calls for another interest rate reduction next month to bolster the sluggish economy.
The Bank of Thailand’s Assistant Governor, Sakkapop Panyanukul, discussed the potential impacts of the recent earthquake, stating it is still too early to fully assess the situation as continuous reports are being received, and a more comprehensive evaluation will need some time.
To promote regional trade, South Korea, China and Japan held their trade talk for the first time in five years while Trump’s “liberation day” draws near.
China’s manufacturing sector recorded its most rapid growth in a year this March, with the official Purchasing Managers’ Index (PMI) rising to 50.5. The figure was consistent with Reuters’ forecasts.
In response to Beijing’s recent commitment to support the economy through substantial banking sector support, four of China’s largest state-owned banks have disclosed plans to secure a combined CNY 520 billion ($71.60 billion) via private placements.
As U.S. President Donald Trump’s decision on the next wave of tariffs approaches this week, Goldman Sachs anticipates that the White House’s aggressive tariff strategy could lead to higher inflation, increased unemployment, and nearly stagnant economic growth.
