Thailand’s SET Index closed at 1,128.66 points, decreased 5.29 points or 0.47% with a trading value of THB 34.66 billion. The analyst stated that the Thai market receded due to pressure from the escalating trade war, after the U.S. and China both aggressively raised their tariffs in a tit-for-tat manner.
Furthermore, investors have sold their stocks to mitigate risk before the Songkran holidays.
The analyst suggests closely monitoring U.S. tax policy to determine next week’s market movements.
As announced by the Finance Ministry on Friday, China has increased tariffs on all U.S. imports from 84% to 125%, effective April 12. This decision follows an earlier escalation in U.S. tariffs on Chinese goods initiated by President Donald Trump.
Meanwhile, Chinese President Xi Jinping is set to embark on his inaugural international trip of the year, visiting Vietnam, Malaysia, and Cambodia from April 14 to 18. This journey aims to reinforce China’s diplomatic ties with its Southeast Asian neighbors amid escalating trade tensions with the United States.
Vietnam is proactively seeking to address Washington’s concerns regarding the circumvention of duties on Chinese goods through its territory in a move that it believes will ease Trump’s anger.
The U.K. economy, in February, experienced a stronger-than-anticipated growth of 0.5% compared to the previous month, driven by a significant increase in services output. Initial projections by analysts had expected a modest 0.1% rise in the monthly GDP, based on LSEG data.
