Thailand’s SET Index closed at 1,133.95 points, increased 45.77 points or 4.21% with a trading value of THB 50.22 billion. The analyst stated that the Thai market soared by almost 60 points during the sessions following a global surge in speculative trading. The bull rally was a response to the U.S. President Donald Trump temporarily pauses his sweeping reciprocal tariffs for 90 days.
Meanwhile, the Thai market rally was headed by rebuying force in major stocks.
The analyst expects the Thai market to trade sideways-up tomorrow.
On Wednesday, President Donald Trump had issued a 90-days pause on his ‘reciprocal tariff’ to a minimum of 10% across the board for the majority of U.S. trade partners, aiming to facilitate negotiations with these nations. This announcement followed the United States’ imposition of enhanced reciprocal tariffs on products from about 60 different countries.
Thailand’s Minister of Commerce recently disclosed that the economic ministers from the 10 ASEAN countries and Timor-Leste convened a meeting to discuss their strategic approach in dealing with new U.S. trade policies. The aim of this meeting is to mitigate potential impacts on trade and investment in the region.
European Commission President Ursula von der Leyen has expressed approval of U.S. President Donald Trump’s decision to temporarily pause the majority of U.S. tariffs, though she withheld comment on whether the European Union plans to proceed with its own countermeasures.
Traders drastically reduced their expectations for Federal Reserve interest rate cuts following the U.S. President Donald Trump’s announcement to raise tariffs on China while deferring broader tariff increases on most other nations for 90 days.
In March, China’s consumer prices dipped by 0.1% compared to the same period last year, signaling continued deflationary trends after a 0.7% drop in February. According to a Reuters survey, analysts had anticipated no change from last year’s figures.
