On Wednesday, Pi Securities expects the Thai market to plunge after the U.S. threatened to impose 104% tariffs on China last night, causing Wall Street to plummet, and weighing down the Asian markets. Japan’s stock market opened with a 3% decline, which will put pressure on the Thai market.
Meanwhile, oil prices have contracted 2%, which will become a downside factor for the energy sector. Thai baht is also weakening, as investors have withdrawn their investment in the kingdom due to fears of tariff measures.
The firm set a resistance level for the SET Index at 1,080 points and a support level at 1,040-1,050 points.
Yesterday, Thailand’s SET Index closed at 1,074.59 points, decreased 50.62 points or 4.50% with a trading value of THB 66.79 billion.
