Thailand’s SET Index closed at 1,159.53 points, increased 0.53 points or 0.05% with a trading value of THB 28.45 billion. The analyst stated that the Thai market traded narrowly as there were no supporting factors. Investors monitored developments surrounding the U.S.-China trade war and 1Q25 earnings announcements from listed companies.
Meanwhile, the index perceived a slight support from the better-than-expected 1Q25 performance of DELTA.
The commencement of the Thai ESGX Fund on May 2 is anticipated to bolster the market in the short term amid concerns over global trade war affecting Thailand’s economic growth.
For tomorrow, the analyst expected the Thai market to exhibit a dip as traders awaited the Monetary Policy Committee meeting and economic indicators from the U.S.
In the latest update from its 2025 outlook, the World Bank has slashed growth for 2025 in Thailand to 1.6%, a sharp decline from its economic forecast of 2.9% made in January this year. Meanwhile, GDP growth for 2026 is also cut to only 1.8%, down from 2.7% in early projection.
As U.S. tariffs begin to take their toll, Chinese manufacturers are halting production and seeking new markets, leading to a reduction in orders that is impacting employment.
Analysts noted that key export areas like Yiwu and Dongguan are experiencing these disruptions, raising concerns about potential expansion of the issue. Companies hope for a reduction in tariffs to resume normal operations, but for now, they are reducing workforces and slowing production.
On another development, China has announced plans to enhance its tax refund regime for international tourists, seeking to energize inbound spending as domestic consumption remains lackluster, especially amid the tit-for-tat trade dispute with the U.S.
The initiative aims to proliferate tax refund facilities across prominent shopping districts, tourist destinations, airports, and accommodations.
